It is no secret that billionaire Mark Cuban is bullish on the cryptocurrency market and the technology that surrounds it.
And waiting for 2022, Cuban is most excited to see the “new and distinctive” crypto purposes that will “change current enterprise processes,” he tells CNBC Make It. “Sensible contracts can change the world.”
Sensible contracts are digital agreements written in code and saved on the blockchain. They’re important in powering decentralized finance, or DeFi, applications and nonfungible tokens, or NFTs, amongst different issues.
“I like [ether] extra [than bitcoin] as a result of I can see a limiteless variety of purposes that can change the [business and] shopper world ceaselessly,” Cuban tweeted on Oct. 16. “And to make use of them, you have to purchase [ether].”
Within the subsequent 12 months, the “Shark Tank” investor and Dallas Mavericks proprietor is hoping to see different use instances for good contracts develop. As one instance, Cuban mentions the potential to monetize carbon offsets utilizing the blockchain.
In idea, carbon offsets are supposed to help balance your carbon footprint by funding environmental initiatives that scale back greenhouse fuel emissions. However some consultants have expressed deep skepticism over carbon offsets in regard to their effectiveness and reliability.
Critics of cryptocurrency and blockchain expertise additionally cite their doubtlessly adverse impacts on the atmosphere.
Nonetheless, Cuban sees the potential for carbon offsets to be verified and monetized utilizing blockchain purposes and tokens, he says. “I am already speaking to all of my corporations that may create carbon offsets and discussing whether or not they can begin monetizing them.”
However this concept of monetizing carbon offsets utilizing blockchain expertise remains to be new. Like with any funding, consultants suggest researching completely earlier than shopping for in. When contemplating any funding in cryptocurrency, consultants warn to solely make investments what you may afford to lose.
Disclosure: CNBC owns the unique off-network cable rights to “Shark Tank.”