- A New York skyscraper with a blockchain network tower will host the world’s largest NFT museum.
- This is a joint venture project by Morley’s blockchain project, Overline Network, and JDS Development Group.
- The blockchain tower connects users to a new and faster crypto trading decentralized communication, ‘wireless communication.’
Investment behemoth Guggenheim Partners founder proposed the huge New York skyscraper with the first-ever blockchain network tower. To host the world’s largest NFT museum.
The midtown Manhattan-based tower will incorporate a wireless network that improves digital ledger access. For both public and private blockchains, providing faster and more efficient peer-to-peer communication.
The Blockchain Tower Project
The new building at 111 West 57th Street, expected by the end of 2021. It will, “like a hand radio operator,” connect users to a “crypto trading wireless communication.”
This all-new way to decentralized communication, “the wireless communication,” has been developed by Morley’s Overline.
Overline Network’s Technologies
It utilizes a unique ‘Proof of Distance’ protocol, which builds and improves upon Bitcoin’s “Proof of Work.”
Bitcoin users are already able to access blockchains through other means, like via satellite network. Overline’s ‘wireless communication’ technology could be “used at the speed that would even allow crypto mining,” revealed Morley.
By leveraging such technologies, anyone within a predefined radius will be allowed a wireless access to blockchains, “regardless of cellular plans or Internet connection.”
He also hinted at their plans to take the blockchain tower plans down to other cities.
Technology Announces New Technology
The proposed skyscraper is no ordinary building; apart from incorporating a blockchain tower, it’ll include the world’s largest museum for NFTs. In Morley’s terms, it’s far more than “just owning bricks and mortar;” with easier access, it’s “the utility function inside a building.”
The tallest NYC building is “the perfect place,” as “a symbol of technology to announce new technology.”
And Overline is developing different ways to utilize the tower.
Crypto Technology To Develop The World
About the crypto technology and cryptocurrency development, Morley said. “It’s fought a lot of headwinds,” and believes it’s “good for humanity.”
He explained, it democratizes investing and helps unlock the “dead capital” locked in the world. Unleashing “tremendous amounts of capital” opens up access to new possibilities.
Commenting on the current crypto market, he said, “it’s just typical of a young market.” For instance, “traders love volatility,” and its illiquidity results from its “still a very small market” size.
Simply put, the market’s negative aspects, including laundering, are “the same in the cash market.”
But with crypto and blockchain technologies spilling into other industries, offering the utility function, digitizing the firms is going to be “a very positive development for the world.”