Aug 21, 2018 11:28 UTC
Oct 17, 2018 at 11:08 UTC
CEO of Bakkt Clarifies Details About the Upcoming Platform
The CEO of the Bakkt platform, which is aimed making digital assets accessible to a mainstream audience, has released a statement via a post on the Medium, that details the specifics of the blockchain platform soon to come. The platform will attempt to explore and harness the immense potential that the technology has and is eagerly awaited by industry insiders.
The platform has managed to get a pretty warm response to its development in collaboration with premier partners, such as Microsoft and Starbucks, both nothing short of being behemoths in their respective fields. This great response turned out to be this positive since these large corporations lent their name to the project to allow it to expand on its vision. The statement noted that the platform is eager to fulfill the increasing need for having a reliable infrastructure that takes care of crypto storage, trading and spending concerns.
The platform operates on a tried and tested framework that lies at the core of the exchanges. The exchanges involve a consistent framework of relevant regulations, price discovery that is efficient and reliable and pre and post trade infrastructure of an institutional quality. It further notes that price discovery is a particularly important part of advancing cryptocurrencies since reliable price information plays an imperative role in that.
In addition, the platform also tries to make sure of another important part of price discovery, the physical delivery. It is also launching a new daily contract for Bitcoin, which will make sure it’s never traded on a margin, or leveraged to create a paper claim on an actual asset.
These features will take the platform towards supporting the overall integrity of the market and also draw a clear line of demarcation between themselves and the existing trend of crypto exchanges that already allow margin, cash settlements and leverage. The statement emphasized that if brought together with a secure warehouse solution that is well-regulated, the market infrastructure can go a long way in aiding customers and institutions participate much more in the assets in question.
This post has generated quite a lot of interest among various Bitcoin enthusiasts. The company is now looking forward to receive some more feedback and implement them accordingly as they continue developing and fine tuning their solution.