Bakkt CEO: “we are on the verge of a cryptocurrency revolution”
The CEO of the upcoming cryptocurrency platform Bakkt, which is being developed by the operator of the New York Stock Exchange ICE, together with Microsoft and Starbucks, said it intends to carry out a "revolution" in the industry, similar to the one that happened with energy resources fifteen years ago.
On Monday, during a conversation with the publication of Fortune, Kelly Loeffler announced the appointment to the position of executive director of Bakkt former vice president of Coinbase Exchange Adam White. She also spoke about the possibility of a repetition of the situation in the past decade.The launch of Bakkt was announced at the end of July, and since then the development of the project has been closely watched by the entire cryptocurrency community, linking with this event the hopes for an inflow of institutional investors into the industry. Platform launch is scheduled for next month.
"The digital market is fragmented like the energy market in the early 2000s. ICE was the pioneer attracting more and more institutions to trade energy, which is what created today's liquid market," Loeffler explained. "We're about to see a revolution on the same scale in cryptocurrencies."
Adam White, for his part, recalled that institutional investors show interest in cryptocurrency space, but so far prefer to take a wait and see attitude.
"…But the level of infrastructure of the existing trading sites often didn't meet their expectations. That's why they're waiting on the sidelines," he said.
"…Cryptocurrency markets go their own way, we see bull and bear markets. But what matters is that the number of daily transactions for all cryptocurrencies is up year over year."
