In a recent video interview, the billionaire entrepreneur Mark Cuban has been digging deep into DeFi and has come to the conclusion that it will revolutionise the way we will do banking in the future.
During the interview he touched on a number of DeFi subjects including the introduction of personal banking and removing the friction of bankers, which is often a highly-frustrating and lengthy process.
Customers Will Take the Path of Least Resistance
Cuban claimed that customers will take the path of least resistance: if they can use DeFi just as easy as credit cards, then it will take off in adoption. He also mentioned that DeFi is currently very complicated to understand and has a long way to go in becoming simple enough for everyone.
Yield Farming: a Risky Game?
The co-host of Shark Tank believes DeFi yield farming is a dangerous place for the small investors. Comparing DeFi yield farming to a game of musical chairs, many players are liquidity chasing but the situation may be challenging when the music stops (and no one seems to know when it will).
Smart Contract Protocols Will Revolutionise the Way We Do Business
Cuban also explained that once standard DeFi protocols are in place, smart contract systems can then be built, potentially disrupting many industries. For example: once royalties can be managed by smart contracts then you’ll see an explosion in industries including healthcare, music, movies, photography sport and many others.
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