"Bitcoin's biggest benefit this year" finally started.

On July 18th, Bakkt held a celebration of the exchange's test transaction on the NYSE boardroom. Dan Morehead, one of the exchange's investors and Pantera Capital's CEO, said at the event: "This is the first time we have been sitting in the NYSE boardroom due to bitcoin."

Miss Dovey made a microblog and commented: "Baktt, a digital currency exchange under the New York Stock Exchange, has closed a round table in New York. Although there are very few people, each is a big money with a face on the street."

This is what I think is "the biggest benefit of Bitcoin this year" is finally going to start.

In fact, as early as the end of last year, Bakkt CEO Kelly Loeffler said a few points in Medium:

1. Two bitcoin contracts will be put on the line, you can understand it as "day knot" and "monthly knot".

2. In these benchmark contracts, the formation of prices will be supported by reliable tools to detect abuse or disruptive trading practices;

3. The futures contract will be provided by ICE Clearing House (USA) with a margin, including the initial margin collateral and the change margin used to manage the risk;

4. Bakkt will invest $35 million in the Notes Exchange to share the risk of the participants.

5. Bakkt's qualified custodian will provide a comprehensive hosting service for physical delivery and secure storage of Bitcoin.

At this point, Bakkt will provide the first compliant, physical delivery futures contract in the industry:

But Bakkt's biggest problem is to constantly "put the pigeons". I believe that the non-stop extension should not be a technical issue. After all, can companies that have so much money be able to recruit excellent technology? Therefore, the continuous delay should be due to regulatory obstacles, or some compliance problems, have to temporarily stop waiting for "audit."

In fact, in Bakkt's view, the time to put pigeons is only about half a year. The time in the Internet industry for half a year is not long, let alone in the traditional financial industry. In the traditional financial industry, buying a wealth management is a year, and half a year is really not a long cycle.

But I don't know that in the currency circle, I have experienced several rounds of bulls and bears in the past six months.

Although Bakkt said that pigeons have been kept, in fact, it really only gave two dates, one is January 24, 2019, this is already a pigeon. The other one is July 22, 2019, the first user test. Fortunately, this time everything went well, as normal:

And user testing is conducted in cooperation with ICE (American Intercontinental Exchange).

In a related article on Shallot, I mentioned a report from the report of Fundstrat Data Science Research Director. The focus of this has been circled for you:

Why is Bakkt the most worthwhile bitcoin this year? I have already said a lot in the article "Probably the biggest benefit of this year". If you haven't read this article, I will simply summarize it:

Bakkt received a large amount of financing in January 2019. What is the situation in January this year? Should everyone still remember it? When a large number of companies in the currency circle were unable to survive, bakkt easily obtained nearly $200 million in financing, valued at more than a billion dollars. For an exchange that has not even launched a product, this is really a slap in the face, and it is enough to show how small the size of the currency circle is in the eyes of the traditional financial world.

This shows what? It shows that as long as Bakkt brings in funds, it is completely extra-circle funds. It is entirely from the mainstream Internet, finance and other fields. Every penny will become a stepping stone for the rise of Bitcoin market value, and it will also become a huge cryptocurrency. Fresh blood from the market.

In addition to bringing in a lot of money, the symbolic meaning behind Bakkt is also very large. Like the traditional enterprise that eats crabs under the wave of “Internet transformation”, Bakkt is the first one, and also wearing a lot of halo and look forward to. How to solve the compliance problem? Can you make money? Will it be called to stop? How about the enthusiasm Waiting for the unknown and curiosity of these traditional companies in the cryptocurrency market will find answers in Bakkt.

They are looking forward to it. In fact, we are also in the midst of this . This is the biggest benefit of Bitcoin this year , isn’t it?

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"This is the biggest benefit of Bitcoin this year."

Author: William Chen