Mark Cuban seems to have weighed in on the current bitcoin sustainability debate, or at least, indirectly. As an investor and strategic advisor, the billionaire businessman and owner of the Dallas Mavericks basketball club has joined dClimate, a decentralized network for climate data.
Cuban’s investment comes on the heels of a $3.5 million seed round sponsored by CoinFund and Multicoin Capital in April. Sid Jha, dClimate’s founding partner, refused to comment on the conditions of Cuban’s investment.
What is dClimate?
The platform seeks to link data producers and purchasers in a decentralized marketplace for climate data, predictions, and models. It includes a built-in system that scores the data’s dependability as it’s provided, making the information more visible.
The project works with both Ethereum and Chainlink. According to a press release issued today, the owner of the Dallas Mavericks will serve as a strategic adviser to the business. Cuban refused to say how much he would invest in dClimate, a decentralized network for climate data that utilizes Ethereum as its foundation layer and primarily depends on oracle network Chainlink to operate.
The transaction demonstrates the tech mogul’s increasing interest in Ethereum. Ethereum, according to Cuban, will impact software businesses, finance, and healthcare.
dClimate’s mission is to offer climate data to companies and organizations. It serves as a data marketplace for everyone from farmers to governments that require climate data to plan projects or prepare for potential catastrophes. It uses blockchain to eliminate intermediaries and connect direct buyers and sellers of such data.
An Ethereum and Chainlink Based Token
To access that data, it utilizes Chainlink, an Ethereum-based technology that pulls data into and out of a blockchain. Chainlink is a decentralized oracle network that seeks to connect blockchains to real-world data in a secure and dependable manner.
Last year, the network’s growth exploded, thanks to hundreds of collaborations and integrations with crypto projects, resulting in a 1000 percent rise in the value of the network’s native LINK token.
For years, Cuban has been a prominent proponent of cryptocurrency investment and acceptance. His investment in dClimate, made via his venture capital firm Radical Investments, is the latest in a long line of crypto data companies that he has backed. This investment, however, is the first to show that Cuban is paying attention to environmental concerns raised by individuals like Tesla CEO Elon Musk.
Blockchain technology and smart contracts, according to Cuban, offer a means to guarantee the accuracy and openness of climate data. He’s also curious about the company’s history of partnering with Arbol, a New York-based insurance firm, to provide weather insurance.