It's officially the end of Silicon Roundabout.
The Old Street roundabout in Shoreditch which spurred the original nickname for the area now more commonly called Tech City after a rebrand, will be demolished after plans for redeveloping the area were approved by the public.
Now the more appropriate name for the spot will be Silicon Square after Transport for London's radical plans to turn the roundabout into a pedestrian and bike-friendly square gained overwhelming public support.
Work will begin next year transforming the beloved but brutal looking 1970's roundabout into a leafy spot with aims of completing by 2018.
The north west road between the north side of City Road and the west side of Old Street will be closed to create a large public space with seating and trees as well as a new entrance to Old Street station.
The remaining junction will gain new cycle lanes to improve road safety at the spot. A third of the traffic currently at the roundabout is made up of cyclists: 44 people have been injured in collisions there between 2010 and 2013, the majority of them cyclists and pedestrians.
The development will also lay the groundwork to improvements at Old Street station, and the new space could potentially include “pop-up” shops, which have become popular in the area.
Boris Johnson said: “These plans will dramatically improve safety for the thousands of cyclists and pedestrians using the junction, and also make it easier to access Tech City, which continues to nurture upcoming technology and creative talent from around the world.”