During a panel discussion at the Blockchain Futurist Conference in Toronto on Tuesday, Ripple Labs' head of DeFi markets shared what he thinks is holding back the crypto and DeFi sector from mainstream adoption.
A “killer app” for consumers is what will be needed to bring the decentralized finance sector to a level that draws in a mainstream audience, said Ripple Lab’s head of DeFi markets Boris Alergant.
Alongside Alergant, Aventus Ventures CEO Kevin Hobbs, FLUIDEFI co-founder and CEO Lisa Loud, and Teller Finance CEO and co-founder Ryan Berkin also featured on the panel.will ultimately push DeFi towards mainstream adoption. Alergant suggested that growth will likely come from a user-friendly CeFi app that offers exposure to DeFi services:
“So I think institutional adoption is where it's going, and the institutions are what is going to enable [...] that killer app for consumers to really bring crypto and DeFi to the next level.” “We all use the internet right? The internet was a paradigm shift for us, but we don't know how to use TCP/IP. Right now, everybody who uses DeFi knows how to use the protocols, it's not sustainable, it's not a good model for adoption.”
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