December 2017 was only in the month when a bitcoin price reached 20,000 dollars, b & # 39; It's also a month after the date; received the ecosystem revenue contracts. By 2018, it was anticipated that Bakkt was launched, a platform that aims to create a Bitcoin market with the center and management to offer BTS its first income.
It's not a moderate and regulatory platform that's just about the exchange of criptocurrency, that is why the Cripto work is something we do; explains the key features of Bakkt, which will begin in 2019.
Bakkt, the Bitcoin-backed market
Published in August this year, Bakkt is a moderate platform who wants to submit a & # 39; is the most prestigious in Wall Street stock market infrastructure. Consideration, according to its founders, born after five year planning. Bakkt will work as a bitcoin exchange system, but it will be protected by United States security laws, as stated.
The intention is "to introduce new inventions to existing structures" to attract traditional investors to the crypto market. Therefore, Bakkt's activities are similar to those at an exchange house, with the difference that they offer compensation and storage packages under the control of the United States Toms Trade Commission (CFCT) and the Commission. Stock Company and Priorities (SEC).
This repaid folder, which was the first one to # 39; refers to cryptocurrencies, ensure the limitant of the purchaser or his / her failure, salary for missing in the contracts. In addition, Bakkt offers a & # 39; buy bitcoins and their future contracts through a broker, which is an essential requirement to comply with the Know-Your-Customer (KYC) regulations, as part of their storage service.
The Bakkt foundation establishes a set-up, interim market structure for the introduction and storage of Bitcoin corporately into global markets.
In contrast, Bakkt is planning to & # 39; look after a purchased crypto-property resource and hold on private keys. This feature may be attractive to traditional investors who are used to submit their assets. However, this Bakkt proposal opposes one of the key practices that promote a bitcoiner community: being your own bank, take responsibility for your finances.
It must be remembered that the identity identity of the users with the KYC policies means that they are Providing private information thereafter to the governing authorities. It is considered that this is the most privacy solution for some surveyors. However, Kelly Loeffler, Chief of Bakkt, says that the security of the platform is set up that some of the keys will be online.
The private keys will be stored, according to Loeffler, in accuracy that "highlights" security, technological and information protection "levels, and including bio-machining scans, fragmentation and many signatures.
Not only is the offer incredible for traditional investors working under the regulatory standards they are familiar with, but Bakkt expects to be the first company to contract in bitcoins directly. This is the reason why they say that the contract bitcoins need to be protected.
Although Bakkt was designed as an exchange, he initially expects to offer Bitcoin contracts in the future. This first result, compared to CME and Cboe, will be & # 39; finishing one day. In addition, according to its web platform, Bakkt Bitcoin (USD) will be issued by 1 BTC as opposed to US dollars. The equality is based 1: 1, contract, bitcoin. That amount may appear high for the meanings of the cryptoeconomy, but as the rest of their recommendation, Institutional investors of the future Bakkt contract target.
As Bakkt is an international international co-operative company, buy and offer Bakkt Bitcoin through ICE Futures (Exchange International). In addition, according to Loeffer, these contracts will be funded in advance, a procedure that attempts to eliminate the risk of contract breach.
Consideration of a bull market that has received the remaining contracts and its; Looking at the collapse of a crypto market in the last few months, it's a & # 39; question how will Bakkt futures affect market?
According to some surveys, the future distribution of contractual lending can only be beneficial to the ecosystem in bitcoins. This would be related to increasing public, secure and regular trade and storage in institutional and clarity demand, which could reduce the incapacity of cryptoactives.
And the regulation?
The sale of the Agreement Contract Agreements must be approved by the United States Revenue Exchange Commission, that is, to be designated as a contract contract with the CFCT. However, Bakkt can authenticate its future results without immediate agreement from the governing body, according to the legal expert Jake Chervinsky, falling under rule for the rule.
To begin to sell bitcoin income Bakkt needs to show his papers. So far, there is no date for the publication of information about the contract of Bakkt in the future, but its contract marketers can take up their self-certification papers to one business day before registering it in their provocation house.
Remember that Bakkt is a trading platform that is linked to many of the ICE Futures US, known as the New York Trade Board. ICE Futures is one of the six glass houses run by the International Exchange (ICE) company, which has been operating since 2000, when it was set up by Jeffrey Sprecher.
ICE Futures is the second largest owner of financial transactions with revenue, behind the Mercantile Trade Company, and its company that started its sales. offers bitcoin income last year. In addition, ICE is owned by NYSE American, New York Stock Exchange, and Arca, the leading future market. Therefore, the structure of ICE and its subsidiary companies has agreed with US regulators to run financial markets, and that's what they expect to take advantage of.
Despite the special dependency that is in the process of being a IKE is pleased, Bakkt can not completely abandon the CFCT settlement, as the Exit Trade Commission still has a self-certified financial outturn. However, one-day self-determination was the measurement made by CME and Cboe years ago, so it is expected that a similar situation will come to the Bakco Bitcoin.
The long-term bet
It is not a competition with other companies that offer basic border investment, such as Coinbase, Greyscale, Ledger, Gemini and BitGo, long-time Bakkt, since this stage is designed to provide a service Help Wall Street's long stay & # 39; and they are supporting them. business payments. According to Loeffer in an interview with Fortune, this responds that Bakkt is a & # 39; business development in two stages.
The first one is connected to a & # 39; launches the Bitcoin contracts in the future. From second level to this stage there is no further information, but Bakkt's co-founders say the intention to change change in the way users have paid in centers shops and online. "We are working to build an open platform that will help to protect the innovative capacity of digital property from global markets and trade," said Loeffer.
It is important to be aware that Bakkt has collaborated with Microsoft, who is a leader in electronic trading services with Azure services from the outset; Starbucks, a big coffee that inspires its customers to be in a position; pay by telephone payment services instead of credit cards and Boston Consulting Group, a strategic advisory company.
It is expected that Bakkt bitcoin futcoids will be launched on 24 January 2019. This date was announced by the financial executives after deleting the future exchange announced for December 12.
In addition to the new opening date, Loeffer published in November to consider a link to a & # 39; future futures with other cryptocurrencies, but they are initially expecting to & # 39; count on market development and customer opinion.
The future markets and in particular Bakk's people have created many expectations throughout the year. However, those who say that this expectation should be given. On the other hand, Diar's survey estimated that traditional repositories would like to overlap markets for exchange houses.
One month after launching the futures, the questions are good.
Will it change something that the futures have been demolished in bitcoins? Will it affect BTC price?
Featured by ZIQUIU / stock.adobe.com