Mark Cuban is an investor, billionaire, and veteran of entrepreneurship, and is on the evaluation committee of the “Shark Tank” TV segment, shown on “abc.”

Cuban recently stated that the crypto sector will fundamentally change the way companies operate.

“Cuban” told “Jason Calacanis” in Podcast “Angel” Blockchain technology and decentralized finance “DeFi” are about to revolutionize many industries.

The entrepreneurial giant explains that with the growth of the nascent DeFi sector, it has become easier to use modern technologies.

Cuban added that companies and individuals can access what is essentially a simplified financial system and solve the problems and hassles inherent in traditional banking services, and stated in this regard:

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Banking services…

If you have $10,000 in the bank and need to borrow $2,500 to go on vacation knowing you’ll get a bonus at the end of the year, maybe put it on your credit card, you’ll pay 19%…

If you want to get an actual loan from your bank, this is troublesome due to the procedures.

For me, getting a loan from the bank is a problem… no matter how much assets I have.

Whereas if you go to Compound, I use Aave, and you put the money in there, and if you want to borrow $2,500, it takes less than 15 seconds…

The point is that transactions with crypto and blockchain protocols are much easier than with traditional banking.

Crypto will change how all financial trading activities work.

Cuban says that as smart contract platforms become more reliable and easier to use, the crypto space has reached a pivotal point and the idea of ​​financial decentralization in other areas is starting to seem possible, adding by saying:

For me, once people get a feel for the blockchain and what Ethereum and smart contracts have to offer, that will be a step forward.

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With people realizing the uses of digital currencies and the blockchain, and that Bitcoin is not a currency, but rather an asset that preserves value, and Ethereum is not really a currency although you can buy things with it on the blockchain, it is a platform for smart contracts through which many things can be decentralized.

Cuban goes on to predict that as the popularity of DeFi rises, so will the demand for non-fungible (NFT) tokens, describing the future as having many physical assets that can be digitized.

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