Welcome to Forkast Forecasts 2023. In this series, blockchain leaders, innovators, and visionaries share their industry predictions for the year ahead.
Dennis Jarvis is the Tokyo-based CEO of Bitcoin.com, a Bitcoin exchange and cryptocurrency wallet developer. Previously, he held global leadership roles at Apple, Japan, e-commerce giant Rakuten, and blockchain startup Orb.
Forecast for 2023
Regulators may tip the scale in favor of DeFi
“We are closer than ever to creating it on the DeFi (decentralized finance) side. [user] experience. We are optimistic that in 2023, the experience gap between what centralized and decentralized exchanges can offer will narrow even further. And this will be combined with centralized exchanges and regulators that may crack down on CeFi as much as possible. And it is the industry that will surely close this user experience gap and allow people to explore the world of cryptocurrencies and use tools to control their own financial future and prosperity and financial freedom. It’s up to us. As easy to use as the centralized financial tools of the past, but for DeFi. ”
FTX Contagion Highlights Need for DeFi
“The future of centralized exchanges heading into 2023 does not look particularly bright. Centralized exchanges and corporate opaque trading will take time to undo the missteps that happened earlier this year and more recently with FTX. will go through that process, and will provide more news headlines about how they mismanaged their money, and it’s not good for the investors and customers of these companies. But shining a light on centralized exchanges is what the industry needs, and we will see many centralized institutions say goodbye to that business, and will continue to exist. The institutions that do so will likely be stronger and more regulated, but this will underscore the need for DeFi and decentralized exchanges in cryptocurrencies, and this will lead to self-ownership and We see it as a shift towards crypto fundamentals such as self-sovereignty over funds.”
Industry goes back to the basics of decentralization
“This is a welcome reversal from the massive amount of money that has been poured into cryptocurrencies over the past few years, but that has been in centralized custody solutions and exchanges. We have moved away from the basics of decentralization, censorship, resistance and transparency, which will facilitate a shift towards these fundamentals, an industry focus on DeFi and cryptocurrency fundamentals. It’s a great time to educate everyone, especially those who have recently joined the field, about how important it is to decentralize, resist censorship, and have sovereignty over your own funds. , we’re doing it with a centralized exchange education fund, and encouraging users to explore the entire DeFi universe through our token program.”