Sunday

Bakkt - To The Future?

Cool, so you can now spend your Bitcoin at Starbucks? Not quite, but the creation by the Intercontinental Exchange of a new company, Bakkt, is a start in that direction. This one got attention since some of the players involved are Microsoft (yes, that Microsoft) and Starbucks themselves, among others.
The new company is working with a marquee group of organizations ... to create an integrated platform that enables consumers and institutions to buy, sell, store and spend digital assets on a seamless global network.
Interestingly, although perhaps inevitably, this gets away from the concept that created Bitcoin in the first place, as seen below in an excerpt from the original paper by its creator (emphasis mine):
A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending.
Be careful what you wish for, I guess.

BusinessWire


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