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Mark Cuban is bullish on DAOs and smart contracts

 


Decentralized Autonomous Organizations (DAOs) have become popular in the crypto space in recent months.

Mark Cuban, the billionaire investor and owner of the Dallas Mavericks NBA team, recently stated that he is a fan of DAOs and smart contracts. He pointed out that his investments are in cryptocurrencies and not traditional financial assets. 

" The investments I'm making now aren't in traditional companies ," Cuban said.

Cuban recently indicated that he is bullish on decentralized autonomous organizations and smart contracts. He explained that DAOs could lead to disruptive organizations and change the way many companies around the world operate.

DAOs are entities within the blockchain space that are responsible for managing specific protocols. The amount of tokens an investor owns grants them some leverage over how the DAO should be governed.

According to Cuban, DAOs would adversely affect the banking and insurance sectors of the global economy. He added that banks and other traditional financial institutions should be afraid of the decentralized finance (DeFi) space and smart contracts. Cuban explained that smart contracts could change the world.

The billionaire investor is a big fan of Dogecoin, the world's leading meme coin. He has praised DOGE for the past few months, describing it as the perfect cryptocurrency as a payment option for goods and services.

Cuban mentioned that the cryptocurrency is still in its infancy and is therefore not for everyone. He added that the success of cryptocurrencies would be massive in the next decade and more people would enter the market.

The broader cryptocurrency market has underperformed over the past few months. Bitcoin is down more than 30% from its all-time high, while Ether continues to struggle below the USD 3,500 resistance level for the past few days.

However, market experts continue to expect Bitcoin and the other cryptocurrencies to surge higher in the coming months.

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