While there's quite a lot of panic in the markets as a result of all the FUDs that have been all up in our shoes. The progress in crypto adoption is rather keeping a steady pace. Originally, crypto was never created to be a get rich quick scheme, nor was it even created as a charity program. Decentralization of money is one out of a million topics that's still being placed under the feet of members of the political system, but notwithstanding, it is quite clear that they are losing their grounds much faster than they realize it.
Crypto was created to place assets ownership in the owner's palm, and from the looks of things, it's quite clear that it's a success story. However, not just placing ownership, the utilization of Cryptocurrencies as a trade pair or payment currency in the exchange market is another vital stance. It's the biggest move that might take a bit longer to fully play in. That said, this is actually my first time hearing of "Bakkt" and I must say, this is just a few of those projects one should consider if at some point there's ever a doubt in the full potentials the crypto industry holds.
What Is Bakkt?
Bakkt is actually older than I thought, probably more than 2-4 years old. However, Bakkt is an online tool that enables its users to manage all digital assets in one unit. On Bakkt you can save, track, and spend your cash, crypto, or gift cards.
What's their vision?
"We’re putting the control over your digital assets in your hands – you earned ‘em, now spend ‘em"
There's been quite a few debates on spending cryptocurrency. People say they've in one or two points spent their crypto earnings, but I say, if you had to convert to Fiat first then it actually wasn't spending, you just sold your position and utilized your Fiat currency. Spending or using crypto directly as a payment currency is all that's keeping the industry from massive exposure, and by having the tycoons and their multi billion dollars industry hint at accepting cryptocurrency for payment is just exciting to think about, cause just maybe, Fiat is close to its end, or maybe not.
Then, to today's news!
"New Visa Card Allows Bakkt Users to Spend Bitcoin in Stores and Online"
According to a post published on news.bitcoin.com
"Customers using the Bakkt app can now apply for a debit card which will enable them to pay with bitcoin at merchants that don’t currently take crypto. The virtual Visa card can be added to Apple Pay or Google Pay to purchase items at thousands of retailers supporting the mobile payment systems."
"The card can be used through the popular Apple Pay or Google Pay mobile wallets which opens the door to thousands of retailers around the world. Commenting on the announcement, Bakkt CEO Gavin Michael pointed out:
"Our goal first and foremost is to offer more choice for consumers, and the Bakkt Card untethers bitcoin owners from their online-only past into a world with countless options to leverage the digital assets in their day-to-day lives."
From a few information picked up from their website the in-app features of Bakkt are quite a lot, and there's just a couple of ways to spend and earn, so it could be worth it.
However, I don't know much about Bakkt in terms of security, it is barely available in my country to be able to utilize, however, maybe to some people, it may just bring a lot of ease on how they spend their crypto money.
