Billionaire Mark Cuban is optimistic about crypto and believes that it will change the way companies operate in the future
"Mark Cuban" is an investor, billionaire and veteran expert in entrepreneurship and is part of the evaluation committee in the "Shark Tank" TV show shown on "abc" channel.
Cuban recently stated that the crypto sector will fundamentally change the way companies operate.
Cuban told Jason Calakanis in the “Angel” podcast that blockchain and decentralized finance “DeFi” is about to revolutionize many industries.
The entrepreneurial giant explains that with the growth of the emerging DeFi finance sector, it is becoming easier to use new technologies.
Cuban added that companies and individuals can access what is essentially a simplified financial system and solve the problems and troubles embedded in traditional banking services, and stated in this regard:
Banking services ...If you have $ 10,000 in the bank and need to borrow $ 2,500 to go on vacation knowing that you will get a bonus at the end of the year, maybe you can put it on your credit card, you pay 19% ...If you would like to get an actual loan from your bank, that is troublesome given the procedures.For me, getting a loan from a bank is a problem ... no matter how much assets I have.Whereas if you go to "Compound", I use "Aave", and you put the money there, and if you want to borrow $ 2,500, it takes less than 15 seconds ...The important point is that transactions with crypto and blockchain protocols are much easier than traditional banking procedures.Crypto will change how all financial businesses operate.
Cuban says that as smart contract platforms have become more reliable and easy to use, the crypto space has reached a focal point and the idea of financial decentralization in other areas seems possible. He added:
For me, once people get a feel for the blockchain and its Ethereum and smart contracts, that will be a step forward.
By realizing that people use cryptocurrencies and blockchains, and that Bitcoin is not a currency, it is a valuable asset, and Ethereum is not really a currency although you can buy things with it on the blockchain, but rather a platform for smart contracts with which many things can be decentralized.
Cuban goes on to predict that with the rise in popularity of DeFi, the popularity of NFTs will also increase, describing the future as containing many physical assets that can be digitized.