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Shopify CEO bullish on DeFi

2 min read

  • Shopify CEO goes bullish on DeFi.
  • ETH hits ATH.
  • Lutke fascinated by ETH smart contracts.

Shofiy CEO goes bullish on DeFi

The popular e-commerce platform Shopify, is riding the crypto waves. Earlier this year, Shopify had partnered with CoinPayments. Tobi Lutke, the CEO of Shopify, has gone full bullish on DeFi.

The e-commerce boss took to Twitter to request that users should recommend viable commercial opportunities within the DeFi community that Shopify could take advantage of. Already Shopify has integrated crypto payments on its platform. Users can now shop and pay via BTC, Ether and some other crypto far back 2014.

The Shopify CEO is acutely aware of the evolution going on within the payment space and wants Shopify to stay on top of the pack. Lutke said Sopify existed before cryptocurrencies and is in total conformity with the concept of decentralization. Over one million businesses worldwide depend on Shopify.

Lutke is curious about how smart contracts work and seeks to understand its deployment in ERC-20 ecosystem. The Shopify CEO is asking about how Oracles are used within the crypto industry and EIS Uniswap protocol.

ETH price hits ATH

Just yesterday, ETH price set a new all-time high of $2,143. Many analysts believe this could be directly related to the approval of EIP-1559 for London Hard Fork.  EIP-1559 would seek to reduce the soaring gas fees for ETH transactions. This time around, miners will not be able to choose transactions that have higher transaction fees. Instead the system will allocate transactions at a flat rate and give a bonus on the transaction verification.  The miners have however kicked against this proposal although it was given a thumbs up by developers.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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