Mark Cuban Explains Why He Invested In Cryptocurrency!

Veteran entrepreneur and leading investor Mark Cuban says he is excited about the opportunities that smart contracts, which are still in development, present for end-user applications.

Billionaire Mark Cuban: “Smart Contracts Will Have a Significant Impact”

Dallas Mavericks owner Mark Cuban cryptocurrency He announced in a few words on Twitter that he had decided to invest in his products. According to Cuban, the revolutionary potential of smart contracts technology was most impressive to him:

“It’s a fundamental question. Why did I invest in crypto? Because I believe Smart Contracts will have a significant impact in producing valuable applications. As I have said from day one, the value of a token comes from the apps running on its platform and the utility they generate.”

He underlined that smart contracts can provide a technical foundation for valuable applications that address various use cases. Cuban says that the value of all tokens is determined by the value generated by applications running on blockchains.

A basic question. Why have I invested in crypto? Because I believe Smart Contracts will have a significant impact in creating valuable applications. I have said from day 1, the value of a token is derived from the applications that run on its platform and the utility they create

— Mark Cuban (@mcuban) November 13, 2022

However, not all decentralized apps will reach their target audience, according to Cuban. Only valuable and useful applications will attract new customers who will go through their “learning curves”:

“What has not yet been established is a common practice around the world. An app that everyone clearly needs and is willing to go through the learning process to use. Maybe it will never come. I hope and think about the future.”

According to Cuban, the modern cryptocurrency industry, with all its bottlenecks, is similar to what it was in the early days of the Internet of the 1990s.

*Not investment advice.