USDC

Polygon

<ul>
 <li><strong>Mark Cuban proposes using blockchain to revolutionize real estate and urban development.</strong></li>
 <li><strong>Cuban aims to automate construction processes using smart contracts on a ZK blockchain, issuing NFT rewards tied to stablecoins for completed housing units.</strong></li>
</ul>
<p>Tech mogul Mark Cuban is making waves in the real estate sector with his bold vision for integrating blockchain technology into large-scale urban development projects. Building on entrepreneur Jason Calacanis’ city <a href="https://thenewscrypto.com/porsche-drifts-into-nft-market-chainlink-integrated-nfts-and-mark-cuban-betting-big-on-nfts/" target="_blank" rel="noopener noreferrer nofollow">proposal</a>, Cuban is supporting the use of blockchain to revolutionize real estate development.</p>
<p>On November 27, venture capitalist Jason Calacanis pictures building 10 new, well-planned U.S. cities with a million housing units each. Mark Cuban responded by revealing his purchase of the town of Mustang in Texas.</p>
<p>Also, Cuban’s innovative proposal centers around employing blockchain’s capabilities to automate and secure real estate transactions and project management. He envisions the creation of a smart contract on a zero-knowledge layer-2 blockchain platform, designed to streamline the issuance of construction permits.</p>
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  <p lang="en" dir="ltr">So you are saying you will have written a smart contract on a ZK L2 which will check for a construction permit being issued , which in turn will create and send me an NFT that unlocks and delivers 250k in USDC when the oracle checks property and utility records and…</p>— Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1728901132435730616?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 26, 2023</a>
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<p>Further, Cuban says, this smart contract would trigger the generation and transfer of a NFT when construction permits are verified. The NFT, tied to a popular stablecoin (USDC), would release $250,000 upon an oracle confirming the completion of a housing unit. Notably, the smart contract would adapt dynamically, creating new NFTs for each additional housing unit built as construction progresses.</p>
<p>To enhance security and mutual protection for transaction participants, Cuban suggests implementing a multi-signature wallet. Moreover, this ensures a collaborative and secure environment for both parties involved in these blockchain-driven real estate transactions.</p>
<p>Polygon founder Sandeep Nailwal weighed in on Cuban’s proposal, cheering the focus on zero-knowledge (ZK) technology. However, Cuban’s approach aligns with his previous endorsements of the <a href="https://thenewscrypto.com/mark-cuban-backs-former-sec-chief-over-gary-gensler-in-crypto-dispute/" target="_blank" rel="noopener noreferrer nofollow">crypto revolution</a>, where he highlighted shortcomings in traditional banking systems.</p>

What is Mark Cuban’s Take On ZK Technology and NFTs in Real Estate?

TheNewsCrypto

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