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Billionaire Mark Cuban is among the bullish celebrities of cryptocurrencies and the technology that revolves around them.

Mark said he is excited to see the “new and unique” crypto applications that may “replace existing business processes,” in a CNBC Make It interview. “Smart contracts can change the world.”

Smart contracts are digital agreements written in code. They are stored on the blockchain and are essential to powering decentralized finance (DeFi), NFTs, and applications among others. 

Cuban has been vocal about his belief in smart contracts. The billionaire has even attributed being an “Ethereum maxi” to the capabilities of the blockchain’s smart contract.

“I like [ether] more [than bitcoin] because I can see an unlimited number of applications that will change the [business and] consumer world forever,” Cuban tweeted on Oct. 16. “And to use them, you need to buy [ether].”

The “Shark Tank” investor and Dallas Mavericks owner is hoping to see other use cases for smart contracts. Cuban suggested that carbon offsets could be monetized using the blockchain.

Meanwhile, the cryptocurrency market has enemies like it has supporters. The blockchain space is power-intensive and mining cryptocurrencies relies on excessive energy consumption. Dislikers of Bitcoin and other digital currencies argue that this is a massive detriment of cryptos since it negatively impacts the environment. 

However, Cuban believes that there is a potential for carbon offsets using blockchain applications and tokens. The billionaire added, “I’m already talking to all of my companies that can create carbon offsets and discussing whether they can start monetizing them.”

The idea of monetizing carbon offsets is still in its infancy. Similar to other kinds of investments, experts recommend running thorough research before buying them. On the other hand, experts recommend people — who want to invest in cryptos — to only invest what they can afford to lose.

Cuban is an avid investor in the crypto space, with a cryptocurrency portfolio of various digital coins, NFTs, and investments in many blockchain companies.