Shark Tank star and billionaire investor Kevin O’Leary believes that as the world of blockchain expands and evolves, it may add value to problem-solving, and some of the major digital currencies. I am watching.
In an interview with Anthony Pompliano on The Best Business Show, O’Leary stated that cryptocurrencies should be viewed as functional “software,” not just alternative cash.
When it comes to deciding which blockchain project to pursue, investors say they rely on the same team and vision review process as traditional software companies. He mentions a practical approach using the Polygon Layer 2 Measurement Solution (MATIC) as a working example of the strategy.
“I’ve seen this movie before. I was investing in a software engineer at The Learning Company 22 years ago when I created an educational program.
What it was then is what it is now…
If you want to invest in polygons, I would like to meet an engineering team in Dubai. I met the team, heard their vision of what they were doing, and saw the economic reality of the result, and its potential.
The first is the team. If you tick the checkbox for Team (Smart Person, Good Engineer, Good Strategy, Good Group), you are interested. “
O’Leary says he wants to go beyond the original concept and see the potential for positive economic benefits.
“This is the second test. What economic value are they creating?
For polygons, it is wise to aggregate transactions to reduce Ethereum gas fees.
You have an economic reason to pursue it. You save money. Transaction fees will be lower. I think this possibility is great. “
Next, the Shark Tank character refers to the enterprise-wide Hedera Public Network (HBAR) that is tuned in for security and regulatory compliance.
“Great team, good engineer. What are the financial assumptions that make it grow?
Boeing wants a semi-centralized/decentralized platform and wants the best of both worlds.
can be provided by HBAR. Select the check box there. “
Finally, the billionaire mentions the Solana Smart Contract Platform (SOL) as a project looking for a unique solution.
They are trying to solve the problem in another way to speed everything up.
Select the check box. Who works on it? [FTX exchange head] Sambankman Fried and his team. Why don’t you bet on this horse? “
O’Leary concludes his remarks by reiterating the importance of looking at cryptocurrencies in a different way conceptually.
“They are software platforms. I say to the foundation, ‘Are you criticizing me for investing in Bitcoin?’” You have a great position at Microsoft [and] Yahoo 5% weighting. What is that? It is a programme.
“Why not do the same with Bitcoin? Why not in Ethereum? Why not in HBAR and Polygon? Why not in Serum? Why not in helium? Really?”
With this position, it is hard to say that I will only invest in listed software companies. One day, cryptocurrency and all of these software platforms will be S&P’s 12th sector.”
Bitcoin (BTC) and Ethereum (ETH) are probably the most popular cryptocurrencies. Serum (SRM) is a untrusted decentralized finance protocol and Helium (HNT) is an open source public blockchain for the Internet of Things.
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Featured Image: Shutterstock / Jorm S