Billionaire Mark Cuban explains the altcoin market he believes will be the next big thing for the crypto industry. The Shark Tank investor notes that he sees many opportunities in this market.
“This altcoin sector presents great opportunities for the book industry”
Crypto billionaire Mark Cuban did a new interview with Forbes. Cuban says Non Fungible Tokens (NFTs) are a huge opportunity for the book industry. As you can follow from Kriptokoin.com news, NFTs such as Bored Ape Yacht Club, CryptoPunk, Moonbirds, Azuki are the most popular. Cuban explains his thoughts as follows:
I’m thinking of NFTs as books, especially textbooks. Now, whether we can get college textbook publishers accepted is another matter than the idea of kids buying books for classes… The whole book buying process. First, do you want new or used? Then, you take these books back. Then at the end of the semester you make the decision, ‘Yeah, I’m going to sell it. How do I sell? can i send it? Shall I take it to the bookstore?’ It’s just a nuisance and ridiculous in the digital world.
According to Mark Cuban, this altcoin industry allows you to impose royalties. Thus, when that book is resold, it is possible for the author, publisher and other people involved to receive a certain royalty fee. This means that the publishers who created the book can continue to get paid. When there is a physical book that is sold and resold, they have to hope that the book will disperse before they can sell a new book. That’s why Cuban says it’s a great app.
“It is possible that NFTs will also create opportunities for insurance”
The crypto billionaire says it is possible for the insurance industry to benefit from a crypto-focused platform as well. According to Cuban, health insurance would be much more efficient and honest if it ran in a decentralized blockchain environment that uses two assets for checks and balances. Cuban explains this view as follows:
I think insurance, I think I can buy insurance very easily. Things like health insurance, for example. The whole process of getting pre-approved or approved insurance is horrible. Nobody likes messing with the health insurance company. You never know if you will get pre-approval for approval in the first place.
Here Cuban said, ‘Okay, I need this. The doctor prescribes it for me, but I can’t pay it out of pocket. What do I do if my insurance company doesn’t approve it?’ raises questions. Then, “With Crypto, you can reinvent how insurance claims are pre-approved or approved by creating an environment where you have a thousand validators. “There are different kinds of optimistic rollups with validators and challengers,” he says. Cuban continues his statement as follows:
So you can train people to be validators and pay them every time they validate a claim, pre-approved or disapprove. Challengers on the side of optimistic rollups ‘You didn’t approve of this, but not for the right reason. Your training says you need to confirm this. I challenge it. That’s why I’m taking anything you put out to get paid for it,’ they’ll say.
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