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Tech entrepreneur and billionaire Mark Cuban expressed interest in a transformative crypto real estate project to integrate smart contracts and non-fungible tokens (NFTs) to facilitate construction and urban development. 
This development follows a proposal by Jason Calacanis, a serial entrepreneur, to build ten new cities across the US, each housing a million units. These cities are envisioned to redefine urban living with an emphasis on sustainability and affordability. 
<h2 class="wp-block-heading" id="cuban-s-vision-for-crypto-driven-real-estate">Cuban’s vision for crypto-driven real estate</h2> 
Cuban took the conversation a step further. The billionaire investor’s proposal involves utilizing a blockchain-based smart contract that operates on a layer-2 scaling solution to ensure privacy and efficiency. 
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 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… <a href="https://t.co/KxmZ4RdlTH" target="_blank">https://t.co/KxmZ4RdlTH</a>— Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1728901814115078550?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">November 26, 2023</a>
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According to Cuban, the smart contract is programmed to verify construction permits autonomously using an oracle, a mechanism that feeds external data into the blockchain. 
Upon successful verification of a permit, the contract then produces an NFT. This NFT represents a developer’s entitlement to receive $250,000 in USDC, a stablecoin, as detailed by Cuban. 
Cuban also proposes the use of a multi-signature wallet to enhance security and provide mutual protection for the parties involved in the transactions. 
 You might also like: <a href="https://crypto.news/deutsche-backed-taurus-targets-tokenized-real-estate-market-with-dubai-office/"> Deutsche-backed Taurus targets tokenized real estate market with Dubai office </a> 
However, some have raised questions about the necessity of using a ZK-rollup, a complex blockchain solution, for this purpose. 
In response, Cuban highlighted the simplicity and security advantages of using a multi-signature wallet for managing project funds. 
Calacanis, on the other hand, recommended the adoption of a more conventional, trust-dependent approach for transferring funds. 
Cuban’s interest in this innovative blend of cryptocurrency and real-estate mirrors his broader advocacy for the practical and beneficial applications of cryptocurrency beyond mere investment opportunities. 
In an Oct. 2023 <a href="https://www.youtube.com/watch?v=Ko5AJh2J4xU" target="_blank" rel="noopener">interview</a>, he expressed concerns about the perception of cryptocurrencies, noting, “[m]any associate crypto primarily with speculation. However, that’s not the true essence of what cryptocurrencies represent.” 
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 “Crypto is really about creating new applications that make things better and easier. What crypto is missing is that one application that grandma really wants to use.” <cite>Mark Cuban</cite>
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Despite his passion for the industry, Cuban has encountered hurdles in his cryptocurrency endeavors. In Sept. 2023, he experienced a significant setback when he <a href="https://crypto.news/mark-cuban-loses-870k-in-metamask-related-crypto-scam/">fell victim to a cryptocurrency scam</a>, resulting in a loss of nearly $870,000. 
Cuban was taken by surprise, only becoming aware of the scam after noticing the absence of 5 Ethereum from his wallet, which was worth approximately $8,175 at that time. 
 Read more: <a href="https://crypto.news/elon-musk-and-mark-cuban-spoke-out-against-sec/"> Elon Musk and Mark Cuban spoke out against SEC </a>

Billionaire Mark Cuban eyes blockchain use for real-estate innovation

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