Blockchain must move from the global-digital realm into the local-physical realm. Bushwick has the necessary cultural and economic conditions to become a living testbed for distributed consensus technologies.
Culturally, Bushwick already embodies the ethos of autonomous and cooperative creation that characterize blockchain. Not only is there a high concentration of blockchain developer talent, but there are also thriving freelance and artist communities.
Economically, the neighborhood has seen a tremendous amount of growth over a very short period of time. There is an ongoing explosion of small businesses (shops, restaurants, bars, etc.), new residents, blockchain companies, and real estate developments. At the same time, working class residents and existing local industries face the threat of displacement from this sudden influx of capital. Thus, the diversity of stakeholders have much to gain from the cooperative economic dynamics that blockchain technologies make possible.
These factors position Bushwick as an ideal locality for developing and piloting bottom-up management systems that solve real urban problems.
Blockchain solutions can capture value from local, spatial and cultural resources that are already part of everyday urban life. Crucially, these very same tools can be used by the community to decide how these new forms of value (data and revenue) will be distributed and utilized in local initiatives.
The BBA will help activate Bushwick as a hyperlocal site for rapidly prototyping empowering blockchain solutions. The resulting impact of this alliance will be transformational not only for the constituents of greater Brooklyn, but for blockchain-centric urban initiatives across the globe.