Bitcoin can solve DeFi integration crisis, says exec

Bitcoin.com CEO Dennis Jarvis believes Bitcoin can be a bridge that leads users into the decentralized finance space.< /p> New

As the decentralized finance (DeFi) space remains plagued by hacks, people have become less interested in getting started and engaging with DeFi. But according to Dennis Jarvis, CEO of Bitcoin.com, there is a way for DeFi adoption to move forward via Bitcoin (BTC).

In a keynote at the Blockchain Economy Dubai Summit 2022, Jarvis pointed out that massive losses of investor funds like the collapse of Terra and the hack of Axie Infinity Ronin have made DeFi unattractive to potential users. However, the exec believes that by using Bitcoin as a hook, DeFi can overcome the integration crisis caused by its declining reputation.

Bitcoin.com CEO Dennis Jarvis, at the Blockchain Economy Summit Dubai 2022.

Speaking to Cointelegraph, Jarvis explained why his team believes Bitcoin can be people's gateway to the DeFi space. He said:

"I think the vast majority of people want to learn about Bitcoin first. It's the first step in their crypto journey, and so that includes buying their first Bitcoin.

After getting their hands on their first BTC, the exec said that through a decentralized exchange (DEX), their team has the ability to help the community easily exchange some of the Bitcoins for assets like Avalanche ( AVAX), Polygon (MATIC), Ether (ETH) or other digital assets. Jarvis thinks this may eventually push Bitco...