As the decentralized finance space remains plagued with hacks, people have become less interested in jumping in and engaging with DeFi. But, according to Dennis Jarvis, the CEO of Bitcoin.com, there is a way for DeFi adoption to move forward through Bitcoin. In a keynote speech at the Blockchain Economy Dubai Summit 2022, Jarvis pointed out that massive losses of investor funds like the collapse of Terra and the Axie Infinity Ronin hack have made DeFi unappealing to potential users. However, the executive believes that by using Bitcoin as a hook, DeFi can overcome the onboarding crisis brought about by its declining reputation. Speaking to Cointelegraph, Jarvis explained why his team believes that Bitcoin can be people’s gateway to the DeFi space. He said: “I think the vast majority of people are mostly interested in finding out about Bitcoin first. It’s the first step on their crypto journey, and so that includes buying their first Bitcoin.”
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