Billionaire businessman Mark Cuban is investing in and advising Ethereum-based data project dClimate.
The Dallas Mavericks owner will be a strategic advisor to the company, according to an announcement today. dClimate, a decentralized network for climate data which uses EthereumEthereum as its base layer and relies heavily on oracle network Chainlink to function, declined to tell Decrypt how much Cuban would invest.
We are proud to welcome @mcuban to @dClimateNet as an investor and advisor. We believe his invaluable expertise will help build #dClimate into the premier platform for every business and entity that uses or builds with climate data. #Blockchain#DeFihttps://t.co/JFw9biv488
The move shows the tech entrepreneur’s growing interest in Ethereum. Cuban previously said that Ethereum will disrupt software companies, banking and healthcare.
“I could see just disrupting the fuck out of them [SaaS (software as a service) companies],” he told Decrypt in an exclusive March interview.
He also said last month that Ethereum has “greater long term value” than Bitcoin. Shortly after, he invested an undisclosed amount in Polygon, an Ethereum scalability startup.
Now, his latest Ethereum-related investment is targeting another big industry that may be ripe for disrupting: data.
dClimate works to provide businesses and entities with climate data. It provides a data marketplace for anyone from farmers to governments who need information about the climate so they can build projects or plan for future disasters. It relies on blockchain to cut out the middlemen and connect buyers and sellers of such data directly.
And it uses Chainlink—a project built on Ethereum that gets information in and out of a blockchain—to retrieve that data. Chainlink is a decentralized oracle network that aims to connect blockchains with real-world data in a trustless and reliable way. The network's growth surged last year, benefiting from hundreds of partnerships and integrations with crypto projects and resulting in a 1000% increase in the value of its native LINK token.
Sid Jha, a founding partner of dClimate, told Decrypt that “there are few people who uniquely understand the way Mark does how blockchain and smart contracts can help revolutionize and bring transparency and efficiency to industries like climate data.”
Published today, Chainlink’s new whitepaper reveals the startup’s plans for a "big leap forward" in the evolution of the hybrid smart contracts that co-founder Sergey Nazarov is convinced will come to define the blockchain industry.
“Hybrid smart contracts are about combining blockchain smart contract application capabilities, and the off-chain world’s proof and data and computations,” Nazarov told Decrypt last week, prior to the paper’s publication. “This is a big leap forward because it redefi...
He added: “His insights and expertise will be an invaluable asset to the dClimate team as we build a platform that can be leveraged by the many stakeholders who need reliable and secure weather data to build climate resilience.”
Cuban isn’t just involved in Ethereum though. The investor has also saidDogecoin (a cryptocurrency initially invented as a joke but now has a market cap of over $40.7 billion) has value. And his Dallas Mavericks started accepting Bitcoin for payment two years ago.
Daily Debrief Newsletter
Start every day with the top news stories right now, plus original features, a podcast, videos and more.
The Tony Blair Institute helped form a plan that proposed selling land in Gaza via blockchain tokens, the Financial Times reported Monday, after paying Palestinians to leave their land. The tokenization project would have also seen the region rebuilt with Dubai-style artificial islands and “blockchain-trade initiatives,” complete with Elon Musk and Donald Trump-themed areas.
The report was met with major uproar from Palestinian activists—one of whom described the proposed plan to Decrypt as “not...
Crypto exchange Gate crossed 30 million active users worldwide last week, with the crypto exchange's founder calling the milestone "deeply meaningful."
Gate CEO Dr. Han told Decrypt that the exchange's growth over its 12-year lifespan is "honestly incredible," especially considering the high levels of competition in the digital assets sector.
30 million and counting!
Gate just crossed 30M global users, and we're only getting started!
🔹Top 2 in 24h spot volume🔹Fastest growing CEX in derivative...
Hamak Gold, an early-stage mineral exploration company focused on discovering orogenic and greenstone-hosted gold deposits in Liberia, West Africa, is shifting part of its treasury into Bitcoin.
Listed on the London Stock Exchange since 2022, the company announced Thursday that it had raised £2.47 million through a share placement, though it did not specify when the funds were secured.
The "injection of new capital" makes Hamak Gold "well-positioned to pursue two core objectives in parallel,”...