Can DeFi Be Built on Bitcoin?

Published on
November 9th, 2021
Duration
44 minutes


Can DeFi Be Built on Bitcoin?

The Interview - Crypto ·
Featuring Edan Yago & Ash Bennington

Published on: November 9th, 2021 • Duration: 44 minutes

Edan Yago, co-founder of Sovryn, understood early on the promise of Bitcoin and seized on the opportunity to upset the feudal dynamic of Web 2.0, an environment within which a few key players own a vast majority of networks. This proved to be a revolutionary moment for Yago, who set out to develop a DeFi infrastructure through his company, Sovryn. In this interview, Yago explains why, in his view, Bitcoin is so important and why it provides freedom and equal access to individuals. He says, “When I read the Bitcoin white paper, what I saw was the ability to have a digital commodity, but more importantly the ability to have digital rights, digital property." He also discusses why he believes smart contracts and other DeFi functions can operate competitively on a Bitcoin sidechain, disrupting the common trope that Bitcoin would likely function as a less liquid reserve asset in a crypto-dominated future. Interviewed by Ash Bennington on November 1, 2021.