What Mark Cuban is most excited for in the crypto space next year.
It’s no secret that billionaire Mark Cuban is bullish on the cryptocurrency market and the technology that underlies it.
Looking ahead to 2022, Cuban says he's most enthusiastic to see "new and distinctive" crypto applications that might "replace existing corporate processes." "Smart contracts have the potential to revolutionise the planet."
Smart contracts are code-based digital agreements that are stored on the blockchain. They're important for a variety of things, including decentralised finance (DeFi) applications and nonfungible tokens (NFTs).
This isn't surprising given Cuban's previous statements about his believe in smart contracts. He's even referred to himself as a "Ethereum maxi" in the past, owing to the blockchain's smart contract capabilities.
On Oct. 16, Cuban tweeted, "I like [ether] better [than bitcoin] because I can imagine a limitless amount of uses that will revolutionise the [business and] consumer world forever." "And you'll need to buy [ether] to use them."
In the coming year, the "Shark Tank" investor and Dallas Mavericks owner is hoping to see other use cases for smart contracts develop. Cuban discusses the possibility of using blockchain to monetize carbon offsets as an example.
Carbon offsets, in theory, should help you offset your carbon footprint by sponsoring environmental programmes that reduce greenhouse gas emissions. However, some experts have expressed serious doubts about the effectiveness and trustworthiness of carbon offsets.
Cryptocurrency and blockchain technology critics also point to its possible harmful environmental consequences.
Nonetheless, Cuban believes that using blockchain apps and tokens, carbon offsets may be verified and marketed. "I've already started talking to all of my firms that can produce carbon offsets to see if they can start selling them."
However, the concept of leveraging blockchain technology to monetize carbon offsets is still new. Experts advise that, like with any investment, thorough study be conducted before making a decision. When considering a cryptocurrency investment, experts advise just investing what you can afford to lose.
Cuban is an active investor in the field, with a cryptocurrency portfolio that includes a variety of digital coins, NFTs, and stakes in a number of blockchain startups.