Has Mark Cuban Changed His Mind on Cardano?
12 August 2022 - 07:40PM
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Billionaire entrepreneur, Shark Tank judge, and crypto investor
Mark Cuban locked horns with World Mobile CEO Micky Watkins this
week over the utility of projects built on Cardano. Cuban has
historically been critical of Cardano and its utility and recently
turned to Twitter to voice his skepticism around the potential for
success of Cardano-based projects in Africa. The post led to
Cardano advocates speaking out on Twitter. The community voiced
their perspective on the blockchain’s ability to deliver real-world
services. Cuban responded he had not seen much adoption of Cardano
applications or demand for payments in $ADA. The discussion quickly
moved on to the Cardano-based project, World Mobile Token (WMT),
which powers the World Mobile network as an example of real-world
utility and value. World Mobile delivers a sharing economy that
allows anyone to own a part of a network built by the people and
earn income for connecting people around the world. Cuban quickly
came back, stating the World Mobile network and token needed “a
real” business model to succeed, and asked whether it had even
begun to earn revenue from users on its network. At this point,
World Mobile CEO Micky Watkins entered the debate, responding with
a tweet citing the company’s average revenue per unit (ARPU) in
Tanzania of $3 per month. A Passionate and Public Debate This Tweet
off a long and passionate debate between Watkins and Cuban, with
Cuban grilling Watkins about World Mobile’s business model and
Watkins responding with data-led arguments around utility,
adoption, and scaling. Cuban was initially skeptical, but the
conversation quickly turned technical, with Cuban asking Watkins
about the type of mesh protocols World Mobile uses, customer
bandwidth, and more. Cuban and Watkins also argued over feedback
from end users, with Cuban stating: “I don’t see you retweeting
anything from actual end users. Which is why I’m so cynical about
this and all the cardano Africa project posts. They don’t come from
end users. Every great product lets the users do the talking for
them.” Watkins responded by linking to a series of testimonial
videos from users connected to and using the World Mobile network
in Zanzibar. The Change in Attitude Throughout this energetic
debate, Watkins and World Mobile seemed to score a few points with
Cuban, who commended the goals of the project and the idea of
reducing capital expenditure by allowing users to build out the
network and own infrastructure. Finally, after the lengthy
discussion on how the network nodes work, Watkins signed off the
Twitter debate with a friendly and open invitation for further
discussion. Cuban’s debate with Watkins served to show that
regardless of the scepticism surrounding the Cardano, all that
matters are the solutions blockchain has to offer. The value of
World Mobile and WMT lies in real-world utility and a sound
business model that holds up under fire from the “shark” himself.
Perhaps this is the project that makes Cuban fall in love with
Cardano after all. Image: Entrepreneur/Getty Images (Eric
McCandless)
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