TL; DR
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Angel investor, Jason Calacanis, created a post on Twitter/X said he wanted to build 10 new cities in America with a million homes each.
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Mark Cuban saw this and offered a city he owns in Texas, and proposes using blockchain technology to manage the deal.
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Using blockchain technology means that no lawyers, brokers or managers are needed to ensure that both parties fulfill their side of the deal. It is fully automated, making the process faster and cheaper across the board.
Full story
This is kind of crazy.
Angel investor, Jason Calacanis, created a post on Twitter/X said he wanted:
“…build 10 new cities in America with one million homes each. Fully planned cities with exceptional affordability, walkability, sustainability and exceptional amenities that bring joy to children, the elderly and the working class who support them.”
Mark Cuban saw this and offered a city he owns in Texas, and proposes using blockchain technology to manage the deal:
“…wrote a smart contract on a ZK L2 that will check for a building permit to be issued, which in turn will create and send an NFT that unlocks and delivers 250k in USDC when the oracle checks the property and utility details and determines that house is completed…”
Here’s what Mark suggests in that answer:
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Write a piece of code that checks municipal records for building permits and utilities.
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Put that piece of code on a blockchain.
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If/when building permits are filed, send the money needed to start → complete construction.
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If/when utility records exist (showing construction completed), send the profits to the construction company.
Here’s why this is such an exciting concept:
Only two parties are needed to complete the (very complex) exchange.
That means: no lawyers, brokers or managers are needed to ensure that both parties fulfill their side of the deal.
It’s fully automated! Making the process faster and cheaper across the board.
The crazy part is:
Looks like it’s actually happening!
But for now…
The deal will be done the old fashioned way: thanks to a handshake and a trusted reputation.