Last Updated on August 9, 2022 by Bitfinsider

By connecting Bitcoin (BTC) owners to the realm of decentralized financing (DeFi) and integrating new services like a decentralized exchange (DEX) onto its platform, cryptocurrency platform Bitcoin.com is trying to grow its ecosystem.

Corbin Fraser, head of financial services at Bitcoin.com, stated during a presentation at the Korea Blockchain Week (KBW) 2022 that the company is transitioning from being exclusively linked with Bitcoin Cash (BCH) to becoming a DeFi platform that serves crypto customers across many chains. Fraser cited the following: “We’ve got a lot of BTC users and a lot of these people want to do more with their crypto than just hold it. And they know there are opportunities in DeFi, but it’s a little bit complicated, a little bit scary.”

Fraser continued by saying that their team is concentrated on making the user experience simpler and offering a more “friendly” crypto wallet. The executive mentioned their DEX as well as their intentions to launch a token sale and issue a prepaid debit card.

The company intends to reward individuals who top up for their usage with the debit card. Fraser thinks that they can develop engaging reward programs by looking at what individuals are buying with their fiat currency. “Let’s say gas is through the roof, we could potentially go after and say, okay, anytime you top up your fuel tank with some petrol, we can add an extra 2% kickback in our verse token.” Fraser added.

This might be a method for Fraser’s company to assist people in overcoming their day-to-day difficulties, he said. According to him, that will be their way of stating: “sorry, inflation sucks so much, but there’s a little taste of crypto.”

The CEO said that the bulk of Bitcoin.com users are BTC users looking for Bitcoin and its wallets when asked about the demographics of the site’s community. However, the company can offer consumers who discovered Bitcoin to alternative paths like stablecoins, Ether (ETH), and other prospects inside the ecosystem thanks to its company’s debut into DeFi.

The CEO of the metaverse company Everyrealm, Janine Yorio, explained to the KBW audience at the same event that while the Ready Player One movie depicts the Metaverse in virtual reality, the majority of innovations in the virtual world are now being made for desktop computers.

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3. The Basics of Bitcoins and Blockchains: An Introduction to Cryptocurrencies and the Technology That Powers Them by Antony Lewis

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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.