Jordan Jefferson, the founder and CEO of DogeOS, spoke at the Consensus conference about the evolution of Dogecoin (DOGE) beyond its meme origins. He argued that DOGE is aligning with the original ideals of Bitcoin as a peer-to-peer cash system. However, he pointed out that the majority of DOGE transactions currently occur on centralized exchanges, which hinders the ability of holders and developers to capture the economic value generated by DOGE. Jefferson stated, "Almost all Dogecoin sits on centralized exchanges. There is no DeFi. There aren't decentralized venues with any critical mass to trade Dogecoin."

To address this, DogeOS is focused on building an application layer for DOGE, starting with a user-friendly wallet that has gained popularity among new crypto users. Jefferson believes that Dogecoin's accessibility is key to attracting retail participants who may not be familiar with decentralized finance. He also acknowledged the influence of Elon Musk in popularizing Dogecoin but stressed that the cryptocurrency has matured and is now larger than just Musk's endorsements. Jefferson concluded by comparing DOGE's potential to established ecosystems like Ethereum and Solana, emphasizing the need for decentralized trading options.