Mark Cuban: Billions Will Be Made Just Like Internet In The 90s

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Mark Cuban: Billions Will Be Made Just Like Internet In The 90s

The billionaire entrepreneur, owner of the Dallas Mavericks and now probably most famously known as the Shark Tank investor, Mark Cuban, revealed that going forward, with the exception of his Shark Tank Deals, he’s all in for investing in crypto. Cuban seems to have a wide range of assets in the form of cryptocurrencies, some of which he invested in, “just for fun.”

In a recent podcast with the comedian, Jon Stewart, Cuban said, “80% of the investments that I make that are not on ‘Shark Tank’ are in or around cryptocurrencies.” The reason he gave for switching to non-traditional investments was due to DAO, or decentralized autonomous organization. Since DAO’s are not regulated by a specific body and are a blockchain-based environment, Cuban’s view was that new businesses emerging from DAO’s will be a “game-changer.”

Cuban stressed the fact that DOA’s being governed by investors who hold their governance tokens, gives the crypto holder voting rights in case any of the rules or protocols need to be changed. In relation to this, Cuban also added that banking and insurance sectors are “going to change” once DOA’s are implemented in the financial sector too.

In the exact words of Mark Cuban in Jon Steward's podcast, “A decentralized autonomous organization (DAO) basically says that there is no central organization. It’s all decentralized and trustless. What we mean by trustless is there’s not a management group or board of directors or a CEO making decisions…

And so everybody who owns a token in that application then has an equal, not always equal, but typically equal vote to set the direction of the hull, of the network. That is changing decision-making and that is where I look to invest.”
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