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October 2, 2022
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Mark Cuban: DeFi and blockchain will change many industries –

Investor and billionaire Mark Cuban stated that the cryptocurrency market will fundamentally change the way companies operate. In a new interview with Jason Calacanis of Angel Podcast, he said blockchain technology and decentralized finance (DeFi) are close to revolutionizing many industries.

Mark Cuban talks about DeFi

As he explained, as the emerging DeFi sector grows and becomes more user- and business-friendly, many players in the market realize that they can access extremely innovative tools. Cuban especially cares about an aspect that is sometimes overlooked in investor analyzes – the potential to improve the financial system.

– If you want to get a real loan from a bank, it is troublesome. Getting a bank loan is a hassle for me … no matter how many assets I have – he explained. He further added what to do to overcome this problem. – Well, you go to Compound for example – I use Aave – and you just deposit funds there, and if I want to borrow $ 2,500, it takes me less than 15 seconds… This is crazy! It will change the way all businesses operate!

He also said that as smart contract platforms become even more reliable and user-friendly, the cryptocurrency space will reach a key point for itself. In addition, it can already be concluded that decentralization of finances in other areas began to seem possible.

– In my opinion, when people started to understand blockchain, especially Ethereum, and smart contracts began to become open and understandable to them, and applications started to be written so that they could be used by consumers, it was a step forward – he said. – W. at this point, people realized that Bitcoin is not a currency. It’s a store of value, Ethereum isn’t really a currency, even if you can buy blockchain-based stuff. Thanks to smart contracts, you can decentralize power – added.

NFT

Cuban continued its prediction and said that as the DeFi idea grew in popularity, non-exchangeable tokens (NFT) would also gain popularity. In his opinion, in the future, almost any physical resource can be digitized.

– Then last summer you really started seeing decentralized finance (DeFi) bloom and that’s what changed the whole game. People got involved in putting money in wallets, checking wallets you know, which made them profitable (…). Now I have a wallet, I have money in my wallet. I can go to Rarible.com, I can go to OpenSea … I can go anywhere … You can earn money effectively on anything digital. Period, end of story – added.

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