The president of Bakkt spoke about the future application of the company in the World Economic Forum
During a panel organized by The Block portal at the World Economic Forum in Davos, Switzerland, Bakkt President Adam White provided more details about the company's future application, which will be launched in partnership with Starbucks.
White said Bakkt's consumer application sees cryptocurrencies as any form of digital value, including cryptocurrencies. This means that the application can also support virtual products, such as loyalty points and share rewards, without being limited to payments with Bitcoin.
With the possible inclusion of stock trading, a portal for merchants and a wide variety of other assets, the application would be more like a traditional fintech, such as PayPal or Inter Bank, than simply an application that allows payments through Bitcoin.
Until now, Bakkt is known for its institution-oriented products, which include Bitcoin futures and options. Bakkt also offers institutional custody services, which have companies like Galaxy Digital and Tagomi as customers.
Even so, the recent change of the CEO and the president of the company shows that the company remains firm in its goal of launching consumer-oriented products. Bakkt named Mike Blandina as its new CEO at the end of last year, replacing Kelly Loeffler, who was appointed senator by the state of Georgia.
In fact, in a text published on Bakkt's blog in October, Blandina said the company focused on creating the consumer application and the merchant portal, for which Starbucks will act as a launch partner.
On the panel, White also commented on the general state of the encryption market, noting that a »has not yet been launched» killer app »( killer app original). "I don't think we're there yet," he said. “What gives me optimism is that we are seeing many developers interested in creating such a tool. I'm sure someone will create something «.