Published by
Benzinga
Benzinga
Mark Cuban on Tuesday said that traditional banking systems possess an array of layers to protect against corruption and social engineering hacks, they also introduce drawbacks such as increased costs, complexity, and limited access for those in need. What Happened: Cuban was responding to a post from former Securities and Exchange Commission (SEC) official John Reed Stark who tweeted that the creation of a CBDC is perhaps the most absurd financial idea in the history of monetary policy. According to Stark, digital currencies are already functioning well and are trusted due to their regulation…