Mark Cuban Plans to Use Blockchain For Real Estate Development
US Billionaire Mark Cuban thinks using blockchain can change real estate by automating payments and security with smart contracts and digital currencies.
Tech billionaire Mark Cuban has expressed his view of the blockchain, referring to it as a game-changer in real estate development. This interest was triggered by a proposal from Jason Calacanis who proposed building ten new sustainable and affordable cities in the U.S. Cuban suggests using blockchain for automating and securing real estate processes.
Cuban stated his idea of using smart contracts on blockchain to manage construction projects. These contracts would automatically issue funds for each housing unit completed, using NFTs and USDC stablecoin. The process is a continuous process of monitoring and issuing NFTs for every new housing unit. when an oracle verifies a construction permit, the smart contract creates and sends an NFT that releases $250,000 in USDC,
When Cuban suggested a multi-signature wallet, Some people questioned the need for sophisticated blockchain solutions like ZK rollups for real estate projects. Cuban responded by highlighting the security and simplicity of using multi-signature wallets for managing funds. However, Calacanis prefers a traditional trust-based method for funds transfer.
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