Billionaire Mark Cuban Commends Defi Economy Dubbing It the ‘Next Great Growth Engine’ – Finance Bitcoin News

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 “no one owns majority control” of these operations which makes them “permissionless” innovations.

Mark Cuban Sees Massive Potential When It Comes to Permissionless Finance

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.

Cuban wrote an opinion piece on his blog called: “The Brilliance of Yield Farming, Liquidity Providing and Valuing Crypto Projects,” 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 “next great growth engine.”

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

“You 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,” Cuban’s blog post insists. The Shark Tank co-host added:

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,…

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