Since the end of the last year, the cryptocurrency and blockchain industry has constantly been achieving new milestones. The industry has been gaining constant growth and adoption from the mainstream sector. There are several companies from all over the world looking for new and innovative ways to adopt crypto-blockchain technology.
The mass adoption of crypto-blockchain technology is not just limited to small individual investors or small businesses, but the technology has now gained mainstream adoption.
Initially, the mainstream adoption for the cryptocurrency industry came in the form of huge investments. Then the adoption came in the form of being integrated into the services provided by mainstream institutions. PayPal is one of the major examples that has now started offering major cryptocurrencies as payment methods.
However, now there are mainstream institutions who are planning to move to the crypto-blockchain system. This is where Shopify has come in and has taken the adoption to the next level.
Just recently, it was the Chief Executive of Shopify, who was seen sharing his interest in the blockchain/decentralized technology. The Shopify CEO was seen publicly expressing his interest in bringing his platform Shopify services to the decentralized finance (DeFi) ecosystem.
It was on Friday, April 2, 2021, when Tobi Lutke, the Chief Executive Officer of Shopify took it to the Twitter platform to public reveal his interest.
In the tweet, Lutke seemed to be seeking feedback from the decentralized finance sector. He asked them what kind of role the e-commerce platform like Shopify could play in the decentralized finance sector.
As soon as the tweet from Lutke went live, thousands of followers started sharing their thoughts and views about the decentralized finance sector. They were people who also commented on the vertical growth of finance in the running and the upcoming markets.
The Tweet did manage to gain the attention of many players from the decentralized finance (DeFi) sector. Some of the major personalities from the decentralized finance sector who commented on Lutke’s tweet was Alex Svanevik from Nansen.
According to Svanevik, proposed the idea of stablecoin payments to be allowed through the Shopify platform. He also proposed that the users should be allowed to earn yields through the Shopify accounts. Svanevik stated that this particular goal is achievable if the Shopify platform uses the decentralized finance protocols.
Another major firm from the decentralized finance (DeFi) sector “ConsenSys” gave the same kind of advice. The firm advised that Shopify can launch a hackathon that would allow the yield-bearing protocols to get money directly deposited into them.
As Lutke continued receiving responses from many notable personalities from the DeFi ecosystem, he continued thanking them all. He stated that although they won’t be able to fully shift to DeFi ecosystem, yet they want to reduce the amount of friction and barriers for online retail.
For them, there will not be any other sector than the decentralized finance (DeFi) that would help them achieve that goal.