Augury Square: Building Innovation Hubs with Crypto in Mind
Dec 31, 2019
One of the main issues with integrating blockchain technology into essential infrastructure is the complexity of adapting and building on legacy systems without experiencing extended downtime, facing logistical and legislative challenges, and eventual stagnation of software that was intentionally built with continuous improvement in mind.
Augury Square intends to solve this problem by building out its entire 30-acre development with blockchain technology at the roots and continuous improvement and integration as part of the founding philosophy.
Some of the functions that Augury has in mind for their development include, an incubation hub for blockchain projects that are looking to be part of the Augury ecosystem, a rewards system within the development, and smart contract-based property management for real estate assets on-chain.
Some of the ways that blockchain projects in the space can benefit from the Augury Ecosystem include:
Test real-world use cases in a pseudo-sandboxed environment
Act as a real-world economic motivator for cryptocurrency projects with mature systems but low usage rates
Work with real large scale user groups in scaling and privacy testing
Working with private infrastructure in ways that would be hampered or outright limited through general public infrastructure.
Work within an ecosystem with democratized data for its users allowing for flexible use cases and healthy ethical software.
The concept of connecting smart ecosystems (particularly in the context of smart cities) with businesses and projects is not a new one, the Smart Cities Global Network (of which Arcadia is a member) headed by the Smart City Dubai project also is heading towards a blockchain-based infrastructure, albeit with a significantly lowered amount of freedom and flexibility due to the existing legacy systems that cannot be replaced.
With Augury acting as the bedrock ecosystem built with the concept of modular functionality, they definitely have an interesting road ahead.
Arcadia is looking forward to seeing the Augury ecosystem come to life, and are excited for an awesome 2020 with the Augury Square team