{"id":8295,"date":"2021-06-15T20:54:08","date_gmt":"2021-06-15T20:54:08","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/billionaire-mark-cuban-commends-defi-economy-dubbing-it-the-next-great-growth-engine\/"},"modified":"2021-06-15T20:54:08","modified_gmt":"2021-06-15T20:54:08","slug":"billionaire-mark-cuban-commends-defi-economy-dubbing-it-the-next-great-growth-engine","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/billionaire-mark-cuban-commends-defi-economy-dubbing-it-the-next-great-growth-engine\/","title":{"rendered":"Billionaire Mark Cuban Commends Defi Economy Dubbing It the \u2018Next Great Growth Engine\u2019"},"content":{"rendered":"

On June 13, the billionaire investor and co-host of the television series Shark Tank, Mark Cuban, explained his fascination with decentralized finance (defi) in an editorial published to his blog. Cuban details that many defi organizations are different because they are not corporate entities or based in the United States. He believes that \u201cno one owns majority control\u201d of these operations which makes them \u201cpermissionless\u201d innovations. <\/strong><\/p>\n

Mark Cuban Sees Massive Potential When It Comes to Permissionless Finance<\/h2>\n

The entrepreneur Mark Cuban has been in the crypto space for quite some time now, and a recently published blog post explains he is focused on defi innovation and decentralized exchange (dex) platforms<\/a>.<\/p>\n

Cuban wrote an opinion piece<\/a> on his blog called: \u201cThe Brilliance of Yield Farming, Liquidity Providing and Valuing Crypto Projects,\u201d which explains the defi universe from his point of view. Cuban stressed that yield farming via staking and liquidity providing are the core features of defi and as far as the economy is concerned, he believes defi could be the \u201cnext great growth engine.\u201d<\/p>\n

Cuban discussed his interest in certain projects like Polygon\/Matic and a number of dex platforms he personally leverages. \u201cExamples of such exchanges that I use are zapper.fi, quickswap.exhange, bancor.network, [and] uniswap,\u201d Cuban wrote. The investor further detailed the benefits of these operations by explaining how finance companies need financial depth to offer specific services.<\/p>\n

\u201cYou need to be able to afford to hedge the risk of pricing volatility between currencies. If you want to do this business with scale, across the world, it can be very expensive and risky,\u201d Cuban\u2019s blog post insists. The Shark Tank co-host added:<\/p>\n

Not for Defi Exchanges. What makes running a Defi exchange so much better than a traditional centralized financial business of this and any kind is that rather than the owners of the business, investors and their creditors putting up capital for all the transactions to take place, Liquidity Providers (LPs) do it for them.<\/p>\n

<\/p>\n

\u2018The Rewards Have to Be High Because It Is Truly a Laissez Faire Market\u2019<\/h2>\n

Cuban remarks that currently exchange competition is \u201cbrutal,\u201d and he describes the rewards of this economy as \u201ca Laissez Faire market.\u201d The investor discusses projects like Compound and Aave<\/a>, and how Aave is a \u201ccompletely automated, permissionless platform where there are no bankers, no buildings, no toasters, no vaults, no cash, no holding your money, no forms to fill out, no credit ratings involved.\u201d Cuban further emphasized:<\/p>\n

Everything is controlled by smart contracts. It\u2019s fully automated. You don\u2019t have to get approval from anyone and it takes minutes to take out a loan. This is called being Permissionless \u2014 This approach is the future of personal banking.<\/p>\n

The Shark Tank co-host<\/a> reminisced about when he gave a Zoom speech during the pandemic and said he sees the world changing after what happened in 2020 and 2021. The world\u2019s companies will transform, Cuban said at the time, and he envisions defi and crypto firms being an important part of this global transformation. Moreover, if the U.S. doesn\u2019t pay attention, the country could miss out on the \u201cnext great growth engine.\u201d<\/p>\n

\u201cAmong those [transformative] companies, it\u2019s already a certainty that Defi and other crypto organizations will be at or near the top of the list,\u201d Cuban\u2019s blog post concludes.<\/p>\n

\u201cUnlike the early days of the internet where we fostered and supported innovation and entrepreneurs, we are already seeing our politicians shitting on the innovations crypto is fostering. Hopefully, this changes quickly or we will lose the next great growth engine that this country needs.\u201d<\/p>\n

What do you think about Mark Cuban\u2019s outlook when it comes to crypto and defi? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nFinance, Aave, billionaire, Billionaire Investor, Blockchain, Compound, Crypto, Cryptocurrency, Dallas Mavericks, DeFi, DEX, Dex Platforms, Exchange Competition, Global Economy, Growth Engine, Laissez Faire, Mark Cuban, mark cuban crypto, mark cuban defi, matic, Polygon, Shark Tank, uniswap, US<\/p>\n","protected":false},"excerpt":{"rendered":"

On June 13, the billionaire investor and co-host of the television series Shark Tank, Mark Cuban, explained his fascination with decentralized finance (defi) in an editorial published to his blog. Cuban details that many defi organizations are different because they are not corporate entities or based in the United States. He believes that \u201cno one…<\/p>\n","protected":false},"author":0,"featured_media":8296,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-8295","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8295"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=8295"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8295\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/8296"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=8295"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=8295"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=8295"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}