WA-founded Bamboo seeks to provide a safe, simple way to make small investments in your everyday life…
Perth based company Bamboo has recently launched an easy way for people to make investments in blockchain and cryptocurrency, on one simple platform.
All users need is a mobile phone and a bank account, the company says.
Bamboo is a new micro-investing platform, a method that has been argued can encourage positive financial behaviour change and assist users in achieving their monetary goals.
Bamboo works by rounding up everyday purchases (such as credit/debit cards) to the nearest dollar and investing this spare change into digital assets (like Bitcoin).
It is low cost (in terms of time and money) and yet can be a high impact way to participate in the digital assets revolution, its proponents say.
If users want to accelerate your investments they can also make instant one-off contributions.
For most people, the phrase “digital asset” immediately brings to mind Bitcoin. It’s much more than that, according to Bamboo’s CEO Peter Hume.
“We believe ‘digital asset’ covers a much broader concept than just cryptocurrencies,” said Peter.
“The technology that launched the blockchain ecosystem will be expanded to cover almost anything that holds value or title, for example precious metals, fractional ownership of assets such as fine art… even a collection of property in Manhattan for the more imaginative investors out there.”
Bamboo’s big bet is that digital assets done right will be easier to acquire, more transparent and help level the playing field so that access to a broad range of investment options isn’t unfairly limited to the already-wealthy.
The idea for the company first originated in 2016, over a casual coffee conversation.
Two of Bamboo’s founders – both technically savvy – had a collection of digital assets scattered across different blockchains, wallets and exchanges. After many hours they had managed to find and account for ‘most’ of their digital assets.
The new and highly technical nature of this technology meant the process was both complex and exhausting. The question arose – how is everyone supposed to participate in the blockchain ecosystem if it is this confusing and intimidating?
And their answer was … Bamboo.
Peter projects a bright future for the company.
“We believe that the world will transition away from opaque traditional asset ownership towards diverse and transparent digital assets, traded with ease through a unifying platform.
“Our hope, of course, is that Bamboo will be that platform” he said.