One month ago we introduced Bakkt, a new company designed to bring digital assets to the mainstream and help unlock the potential of this important technology. We appreciate the response to our announcement and the conversation since.
The internet, where we see this dialogue unfolding transparently, is a global network that today we take for granted. But nearly 20 years ago when the web was in its infancy, the spark for digital assets was there. It sticks with me that back then, Nobel Laureate Milton Friedman predicted that e-cash would emerge. And now are we seeing the promise of a true digital currency.
Whether you’re an investment manager seeking federally regulated, institutional trading and security solutions or a consumer looking for more choice in transacting, we’re working to make the vision for wider application of digital assets a reality.
I wanted to share a couple of quick observations from the last month. First, the response to our news worldwide was very strong. The credit for that goes in large part, to a premier group of partners and the vision for Bakkt we collaborated on for months. Equally important is the widespread need we’re hearing for trusted infrastructure for trading, storing and spending digital currencies.
To achieve that, we’re starting with a proven framework that underpins exchanges, including:
- a consistent regulatory construct
- transparent, efficient price discovery, and
- an institutional quality pre- and post-trade infrastructure
The concept of “price discovery” might sound bland for something as exciting as Bitcoin. However, trusted price formation is a fundamental part of advancing the promise of digital currencies.
A critical element to price discovery is physical delivery. Specifically, with our solution, the buying and selling of Bitcoin is fully collateralized or pre-funded. As such, our new daily Bitcoin contract will not be traded on margin, use leverage, or serve to create a paper claim on a real asset. This supports market integrity and differentiates our effort from existing futures and crypto exchanges which allow for margin, leverage and cash settlement. Coupled with a secure, regulated warehouse solution, you can begin to see how this market infrastructure can help more institutions and consumers participate in the asset class.
Recently, the Wall Street Journal headlined that the aggregate market capitalization of digital assets slid below $200 billion, down 70% from the peak at the start of 2018. At the same time, there are numerous reports that venture investing, initial coin offerings, and corporate R&D related to blockchain and digital assets are all on track to surpass 2017 levels. With the potential for efficiency and innovation, the focus on new applications and infrastructure indicates a strong appetite for this market and technology.
It’s exciting to do this work as the end of a busy summer approaches and an even busier fall awaits. Thanks for your interest and feedback.
Message from our CEO, Kelly Loeffler.
Bakkt - With our solution the buying and selling of bitcoin is fully collateralized or pre-funded.
Welcome to Steem @bakkt.
Do read A thumb rule for steemit minnows - 50:100:200:25 for starter tips.
Spend time reading Steem Blue Paper to know how Steem blockchain works and if you still have any queries ask them on our Ask me anything about Steemit post and we will try to answer that.
All the Best!!!
Welcome to Steemit bakkt. Let me know if you got any questions about Steem or anything related to it! The official FAQ can be found here and has A LOT of information https://steemit.com/faq.html - Also remember, Steemit is just ONE of the sites built that uses Steem the blockchain. We also have DTube - our very own Youtube, DSound for Soundcloud and Steepshot if you prefer Instagram like experience. I'd also like to mention ChainBB - forums, Busy - Steemit with more modern look basically, DMania for memes and Dlive for streaming just like in Twitch! You can also earn Steem by gaming now! Search for Steemgar if that's more your thing. Welcome to the blockchain! :)
Welcome to Steem, @bakkt!
I am a bot coded by the SteemPlus team to help you make the best of your experience on the Steem Blockchain!
SteemPlus is a Chrome, Opera and Firefox extension that adds tons of features on Steemit.
It helps you see the real value of your account, who mentionned you, the value of the votes received, a filtered and sorted feed and much more! All of this in a fast and secure way.
To see why 3163 Steemians use SteemPlus, install our extension, read the documentation or the latest release : SteemPlus 2.21: Earn more by posting to DTube via SteemPlus.
Congratulations @bakkt! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :
Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word
STOPCongratulations @bakkt! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :
Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word
STOPDo not miss the last post from @steemitboard:
SteemFest³ - SteemitBoard support the Travel Reimbursement Fund.
Game changer! This is probably the biggest news for Bitcoin.
Congratulations @bakkt! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
Click here to view your Board of Honor
If you no longer want to receive notifications, reply to this comment with the word
STOPDo not miss the last post from @steemitboard:
Welcome to Steem Community @bakkt! As a gentle reminder, please keep your master password safe. The best practise is to use your private posting key to login to Steemit when posting; and the private active key for wallet related transactions.
In the New Steemians project, we help new members of steem by education and resteeeming their articles. Get your articles resteemed too for maximum exposure. You can learn more about it here: https://steemit.com/introduceyourself/@gaman/new-steemians-project-launch