Mark Cuban expects new crypto applications and altcoin projects in 2022, with particular emphasis on smart contracts. Despite the recent crash that hit the cryptocurrency market, worth over half a trillion dollars last week, billionaire crypto investor Mark Cuban remains bullish and confident about the market and the technology that powers it. Details are on Kriptokoin.com.
Altcoin projects can change the world
Cuban told the CNBC program “Make It” that he expects “new and unique crypto applications that can replace existing business processes.” Mark Cuban: “Smart contracts can change the world”. Smart contracts are digital-based contracts stored on blockchains such as Ethereum and Solana, two of the most prolific crypto platforms carrying such applications. These smart contracts are crucial in the execution of DeFi applications and non-changeable tokens (NFTs), among others. The “Shark Tank” star and Dallas Mavericks owner has consistently expressed his belief in smart contracts in the past, saying that his token has become an “Ethereum maxi” due to its robust smart contract features. He stated that he likes Ethereum more than the top cryptocurrency Bitcoin because he sees an “unlimited number of applications” that will change the business and consumer worlds forever. He said that to use these apps, investors must purchase Ether.
Mark Cuban drew attention to new usage areas
In 2022, Cuban hopes that more use cases will emerge for the further growth of smart contracts. Cuban noted the possibility of monetizing carbon offsets on the Ethereum blockchain as an example. These carbon offsets help offset the carbon footprint by subsidizing environmental initiatives aimed at reducing greenhouse gas emissions. However, experts doubt the effectiveness and reliability of carbon offsets. Cryptocurrency critics also refer to the technology’s negative impact on the environment. Despite this, Cuban envisions the potential for carbon offsetting to be monetized through blockchain applications and tokens. He said he was discussing strategies with all his own companies that could produce carbon offsets on how to monetize them. With this tokenization of carbon offsets, climate activism using blockchains is becoming more and more common.
Similar to other investors, Cuban wants to have blockchain solutions to face the climate crisis directly. He urged Twitter to purchase $50,000 of carbon offsets and invest them in the chain as Tones of Base Carbon (BCT) every 10 days. However, the concept of such a carbon offset monetization is still new. Similar to other potential investments, experts will be pressured to do extensive research before actually buying. When investing in cryptocurrencies, experts have warned investors to only invest money in assets they can afford to lose at any given time, given the volatility of the market.
Cuban uses blockchain technology to purchase $50,000 of carbon offsets every 10 days. Cuban has a solid portfolio of investors in the cryptocurrency space: he has stakes in Bitcoin, leading altcoin Ethereum and meme token Dogecoin, NFTs, and various blockchain companies.
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