The traditional adoption of decentralized finance (DEFI) on emerging markets like India is blocked by a fragmented user experience, according to Rohit JainCEO of Okto wallet.
Speaking in an interview with Benzinga, Jain identified the complexity of web 3 interactions as a main obstacle, in parallel with the need for regulatory clarity, such as key challenges preventing to reach a wider audience.
His ideas highlight the struggle of industry to simplify access while maintaining his decentralized philosophy.
Jain has identified the convoluted nature of the DEFI processes as an important obstacle.
“The experience in Web3 is completely broken,” he said, adding that “simple transactions become very archaic and very complicated for users”.
He noted that users must navigate in several wallets, seed sentences, asset bridging, gas tokens and chain specific shades – tasks that also loads developers.
This complexity, he argued, alienates both new users and institutional actors on markets like India, where rationalized access could unlock significant potential.
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Despite these obstacles, Jain sees a path to go through technological innovation, citing the growing movement of “the abstraction of the chain” aimed at simplifying web3 interactions.
He also underlined the world momentum towards regulatory clarity as an adoption catalyst.
“On a global scale, I think that, more and more, we are heading towards more regulatory clarity in general, not only in India, but around the world,” he observed, suggesting that lighter executives could attract institutional participation once user experience problems are resolved.
Jain’s optimism on regulatory progress extends to India, where he thinks that an understanding of blockchain technology improves between regulators.
“Global regulators and India include Web3 and Blockchain as a technology,” he said, predicting that this change will eventually lead to executives that balance innovation and consumer protection.
He considers the regulatory alignment of Cross -Country – transferred by developments such as Mica and clarity of the United States in Europe – as inevitable, although the calendar remains uncertain.
While Jain recognized the post-Ftx Debate on self-careful platforms compared to centralized platforms, he pleaded for a hybrid future where the two coexist, adapted to user preferences.
Its emphasis on improving the accessibility of DEFI reflects a broader thrust of the industry to fill the gap between the promise of web3 and its practical adoption on emerging markets.
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