Get All Access for $5/mo

Why is Mark Cuban Fascinated by Crypto? Cuban drew comparisons of the up and coming crypto space to the early days of streaming. He claimed that people had to go through a tedious process just to make a 16k stream work and believed that if it didn't, people would often become a laughing stock for not using a radio

By Saptak Bardhan

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Wikimedia Commons

Shark Tank fame, Mark Cuban recently took to Twitter clarifying why he invested in crypto. "I believe smart contracts will have a significant impact in creating valuable applications," said Cuban in his tweet.

Cuban mentioned in the thread the success of crypto has been hampered due to the absence of an application that is 'ubiquitous' He strongly believes that the world needs such a platform. However, he is skeptical whether it would be made or not.

Cuban drew comparisons of the up and coming crypto space to the early days of streaming. He claimed that people had to go through a tedious process just to make a 16k stream work and believed that if it didn't, people would often become a laughing stock for not using a radio.

However, he mentions that the online streams were perfect for in office or out of market. The concept of streaming came in 1995.

He mentioned that concept of smart contracts is approximately five years old.

In another tweet, Cuban mentioned about the regulation of crypto. "The SEC says that they regulate crypto," said Cuban in the tweet.

The Crypto space has been going through a rough patch with FTX's implosion being one of the more recent events.

Cuban has invested in quite a few Web3 startups with a few notable startups being Polygon, OpenSea, etc.

Saptak Bardhan

Former Trainee Writer

Former Trainee Writer
News and Trends

"45% of All Ongoing Hydropower Projects in India are Ours": Patel Engineering

Patel Engineering reported a turnover of INR 4,400 crore in the last fiscal year, with a projected 10 per cent growth for the current year.

Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

Business News

Here's What the CPI Report Means for Your Wallet, According to JPMorgan and EY Experts

Most experts agree that there will be another rate cut next week.

Living

70% of Small Business Owners Experience Monthly Burnout. Follow These 3 Rules to Avoid the Same Fate.

Here are three guidelines to help entrepreneurs achieve balance, growth and success in both their professional and personal endeavors.