the In a Blog post on Medium, Adam White, in his capacity of Chief Operating Officer (COO) at Bakkt discussed, the Status quo in terms of Bitcoin Futures. One thing is clear: In terms of safety, the New York Start-up is serious it is.
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30. April 2019BTC$5.286,00 1.26%part Facebook Twitter LinkedIn xing mail
crypto-bulls”, the arrival of institutional investors” the opportunity to nourish the Narrative of rising rates. Because the crypto market, so the argument that you present all of crypto-savvy small investors. Here is the difference with the traditional financial sector is revealed. Finally, institutional investors such as banks or Investment funds, where the vast majority of the invested volume.
The reasons for the hesitant to enter professional investors in the crypto-market – in spite of the dream returns – are many and varied. A series of misunderstandings exist about the Use of Bitcoin & co. – prejudice, as we know, persistent. On the other, the options on a regulated market environment, access are sown, simply rar. In short: Those who want to expand their portfolio of securities to Bitcoin that can currently rely only on the two Chicago exchanges CME and Cboe. The recurring reports about Fund-losses of crypto exchanges such as QuadrigaCX scare off institutional investors.
Bakkt is the source of hope
It seems to be changing, however slowly. So the Bitcoin community linked to the founding of Bakkt, a cryptographic branch of the Intercontinental Exchange (ICE), with great expectations. Finally, it is in the ICE to a well-known stock exchange group has, among other things, the prestigious New York Stock Exchange under his wings.
Since its founding in the summer of 2018, it has Bakkt, therefore, always in the headlines managed – not least because of the ambitious plans, the first physical Bitcoin Futures. Originally, the launch of the Bitcoin-derivative was announced for the beginning of 2019; however, it was not to be for the time being. Now the launch is postponed to unknown time. Breastfeeding is not observed in Bakkt, however, to stand. The New York Start-up in a Funding forecast-round and write 182 million dollars to collect. As we reported, is one of the investors by none other than Microsoft.
deposits are SAFU
A new Blog entry of 29. April by Bakkt-COO Adam White is now to the details of what the company intends to the capital injection. It can be summed up in one word: security.
Because the cryptographic structure of crypto-currencies such as Bitcoin can define ownership clearly. It makes the Depositary but also vulnerable to attacks that can result in total loss of the customers ‘ deposits. These are cases such as Mt.Gox, Quadriga and others-is sufficiently demonstrated.
package of measures presented to the
And so White presents a whole series of measures to guarantee the safety of the physical Bitcoin. To anticipate it: In terms of safety Bakkt Best Practice is practiced.
Bakkt want to use a combination of Hot and Cold Wallets. Only resources that are immediately prior to the withdrawal, are in the Hot Wallet. The bulk of the deposits is kept on an insured Offline Wallet.Both types are secured by Multi-Signature.The Private Keys are fragmented by means of Sharding and distributed geographically.This, in turn, are stored in the vaults of the asset Manager of BNY Mellon.No Bakkt employee can move deposits independently.
All these measures Bakkt in the hope to get the long-awaited title of a so-called “Trust Company” on the part of the New York Department of Financial Services awarded. Then, the startup could offer up as the first financial services provider in the world, a fully regulated market environment, with trading of Bitcoin and Bitcoin derivatives such as Futures. In this context, it is also the latest acquisition of Bakkt to see: The Digital Asset Custody Company is now part of the business environment, such as White tells.
With all of these measures will help the ICE-the daughter of the crypto-market to more professionalism and, above all, efficiency.
in the meantime, you must wait for the large capital, however, is a little. The launch of Bitcoin Futures is postponed to unknown time.
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