"DeFi isn't decentralized at all": Former Blockstream CSO Samson Mow

Samson Mow, the former CSO at Blokstream and founder of JAN3, believes that most decentralized finance protocols cannot compete with Bitcoin when it comes to creating an effective monetary network due to their lack of decentralization.

Mow stressed that DeFi projects are run by organizations that can change the protocol at will.

"Bitcoin is fundamentally money and should be immutable," Mow said. "If you can change that at will, then you're no better than a fiat currency controlled by the central bank."

The decentralization of Bitcoin ( BTC ) makes it very difficult to change the protocol. Therefore, Mow believes it is a unique candidate that can become a truly global monetary system.

Mow explained that despite the immutability of the Bitcoin base layer, developers can still build applications on top of the Bitcoin blockchain by working with the Layer 2 scalability solutions.

In particular, Mow is a strong supporter of the Lightning Network, which enables instant, cheap Bitcoin transactions. By promoting Lightning technologies, Mow is trying to accelerate what it calls Hyperbitcoinization. In such a scenario, people exchange bitcoin without having to exchange it for fiat currency.

"Lightning is going to supplant Visa, Mastercard and everything else," he explained. "And it lowers costs for merchants, which in turn means better experiences and lower costs for consumers."

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