Real Estate in North Korea
Currently, North Korea is lagging behind in terms of their housing development in comparison to other thriving countries today, but it’s been rapidly developing over the past decade, the housing prices have increased up to 12 times over. North Korea has recently introduced the idea of private ownership, which is unusual for it to be tolerated in the country, as it is authoritarian. It exists, but it’s not common, as everything else is of state property.
Opportunities for North Korean Development Post-Reunification
With this system of essentially loophole-ing around the governmental regulations of real estate, more and more North Koreans are understanding the fact that their real estate is worth a lot of money, in addition to the anticipated further rise that is predicted in the near future. With reunification considerations, this real estate situation can become the liaison to addressing the wealth gap between South and North Korea.
Opportunities for Untouched Territory
When there is further development that can occur near the borders for North Korean territory, there are a myriad of opportunities that these developments are capable of, and I’m going to focus on the capability of building a decentralized system that can be constructed with these new developments. When these areas are being built from the ground up, the blockchain system can be utilized, with Proof of Location being utilized, and UnityCoin becoming the main currency, where it can extend the bridge between North Korean and South Korean finance.
FOAM: A Decentralized Method of Verifying Location
With all of this new development, decentralized verification can be used using a platform like FOAM, which can be used for a concept called Proof of Location. Proof of Location utilizes Zone Anchors, which are distributed beacons with radio transceivers. The initial steps for joining this network involves connecting on of these Zone Anchors. This system relies on synchronized clocks, where these anchors send messages until a consensus is reached. Once they are synchronized, these groups of anchors can establish a Zone, which pledges to give location services that are enforced by smart contract safety deposits. Finally, Zones include time stamped messages from customers in a competitive market for a transaction fee, while these Zones are resynchronizing clocks and publishing their time logs to a data store. Validators provide fraud-proofs, and constant triangulation is calculated to verify the final presence claims.