Why Crypto Better Option For Many Financial Activities By Billionaire Mark Cuban

Mark Cuban believes blockchain technology is a better option for conventional finance activities.

Crypto beats the conventional banking system in various areas encompassing security and efficiency, said The Dallas Mavericks owner to his around 8.8 million twitter followers.

Furthermore, Cuban articulate that let’s consider conventional lending vs, crypto lending, it is just a subject of trust and process.

In banking there are many layers of management and systems to prevent corruption, social engineering tactics and more. Those layers of management increase the cost, time, and complexity and even worse, bounded to many who need it. While in crypto there are clear contracts with straightforward rules that are available to everyone. Both are exposed to hacking risk, but risk related to contracts declines over time.

Cuban added that appropriate regulation of crypto, like beefing up user safeguard, will only increase the integrity of digital assets, enhancing their boundary over conventional financial activities.

How funds are handled and stored is not changed by the regulations. In reality, both will make the benefits of smart contracts for finance powerful, enabling them to be safer and a better solution for various lending and finance needs. Again, with explicit regulations users can be safeguard and obtain the benefit of the technology.

Lastly, Cuban said that people should educate themselves about crypto via using technology before making hasty judgment.

Moreover, they added that you really need to understand it, true ChatGPT or smart contract to make a summary for you. It is all clear. But to banish it even without having the basic understating of what actually it can and can’t do us deceitful.