The scheme allows for Berkeley to build on blockchain to provide its citizenry with homes fit for human habitation, that are affordable and accessible, based on a bespoke Berkeley UC/City bond scheme, that could create a low-to-middle income economic boost in the area.

Transferring the municipal bond market to a digital platform will create a more efficient process than the paper-based process involving multiple stakeholders, Berkeley Councillor Ben Bartlett told Citylab. The city can create a public ledger that displays financial statements and cuts out the middle man, he said, which reduces the transaction costs normally associated with bond issuances.