Billionaire Mark Cuban praises Defi Economy, calling it “the next big growth engine” – Bitcoin News

On June 13, billionaire investor and co-host of the television series Shark Tank, Mark Cuban, stated his fascination with decentralized finance (defi) in an editorial posted on his blog. Cuban details show that many defi organizations are different because they are not corporations or are based in the United States. He believes that “nobody has majority control” of these operations, which makes them “unlicensed” innovations.

Mark Cuban sees enormous potential when it comes to license-free funding

Entrepreneur Mark Cuban has been in the crypto space for quite some time and a recent blog post explains that his focus is on Defi-Innovation and Decentralized Exchange Platforms (Dex).

Cubans wrote to Opinion piece on his blog with the title: “The Brilliance of Yield Farming, Liquidity Providing and Valuing Crypto Projects”, which explains the Defi-Universe from his point of view. Cuban stressed that yield farming through staking and liquidity provision are the core features of Defi, and as for the economy, he believes Defi could be the “next big engine of growth”.

Cuban spoke about his interest in certain projects like Polygon / Matic and a number of Dex platforms that he personally uses. “Examples of such exchanges that I use are zapper.fi, quickswap.exhange, bancor.network, [and] uniswap, ”wrote Cuban. The investor further elucidated the benefits of these operations by explaining how financial firms need financial depth in order to offer certain services.

“You have to be able to afford to hedge the risk of price volatility between currencies. If you want to do this business on a large scale around the world, it can be very expensive and risky, ”says Cuban’s blog post. The Shark Tank co-host added:

Not for Defi Exchanges. What makes running a defi exchange so much better than a traditional centralized financial company of this and all kinds is that instead of the owners of the company, investors and their creditors providing capital for all transactions that take place, liquidity providers (LPs) do it for them.

“The rewards have to be high because it really is a laissez-faire market”

Cubaner notes that stock market competition is “brutal” right now, and he describes the rewards of this economy as “a laissez-faire market”. The investor talks about projects like Compound and Aave and how Aave is a “fully automated, permissionless platform where there are no bankers, no buildings, no toasters, no safes, no cash, no holding of your money, no forms to fill out, no credit ratings involved. “Kubaner further emphasized:

Everything is controlled by smart contracts. It’s fully automated. You don’t need to seek approval from anyone and it only takes a few minutes to get a loan. This is known as permissionless – this approach is the future of personal banking.

The Shark Tank co-host recalled giving a Zoom speech during the pandemic and saying he saw the world change after the events of 2020 and 2021. The companies of the world will change, said Kubaner at the time, and he envisions defi and crypto Corporations are an important part of this global transformation. Also, if the US is not careful, the country could be missing out on the “next big growth engine”.

“Under these [transformative] Companies are already certain that Defi and other crypto organizations will be at the top of the list, ”concludes Cuban’s blog post.

“Unlike the early days of the internet when we encouraged and supported innovation and entrepreneurs, we already see our politicians give a shit about the innovations that crypto is promoting. Hopefully that will change quickly or we will lose the next big growth engine this country needs. “

What do you think of Mark Cuban’s views on crypto and defi? Let us know what you think on this matter in the comments below.

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