While explaining the potential impact of decentralized autonomous organizations on legacy businesses, billionaire investor Mark Cuban, who recently joined the cryptocurrency space, ironically denied referring to Cardano’s blockchain.
No, Not Cardano, Says Cuban
Mark Cuban used to be among the many critiques of the cryptocurrency industry in the past. However, as it happened with quite a few of them, he changed his mind recently and has become a vocal proponent of blockchain technology and cryptocurrency assets ever since then.
Cuban has displayed a rather optimistic approach towards disruptive technologies, including Ethereum’s network. In the latest Twitter message, the billionaire touched upon the potential changes coming to corporations prompted by decentralized autonomous organizations (DAOs).
The future of corporations could be very different as DAOs take on legacy businesses. It’s the ultimate combination of capitalism and progressivism. Entrepreneurs that enable DAOs can make $. If the community excels at governance, everyone shares in the upside. Trustless can pay
— Mark Cuban (@mcuban) May 31, 2021
Interestingly, some Cardano proponents took his words as an indirect advertisement of the blockchain project founded by Charles Hoskinson, which has been making significant waves lately.
However, Cuban was quick to ironically refuse any assumptions that he may have been referring to Cardano by saying, “lol. No.”
Interestingly, Cardano’s founder got involved in the Twitter discussion as well. Hoskinson responded with an ironic GIF post of his own.
Cardano’s Recent Developments
Although Cuban may have dismissed Cardano, the blockchain project’s popularity has actually been surging since the start of the year. It signed a few partnerships in Africa, with the Ministry of Education in Ethiopia and Tanzania’s government, to work on several blockchain-based products, including digital identities.
The project’s founder has been openly praising his brainchild, including outlining several reasons why he believes Cardano is better than Ethereum – another blockchain giant he helped establish years ago.
Cardano also plans to roll out a suite for DeFi and smart contracts next month. Responding to these developments, the price of the native token has surged in 2021. ADA entered the year at $0.18 and has expanded by nearly ten-fold since then to its current level of $1.7. Moreover, it registered a new all-time high weeks ago at well above $2.3.
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