Bamboo is a people-focussed mobile application that makes the microsaving of diversified parcels of cryptographic assets easy, automated and fun. All you need is a mobile phone and a bank account to get started.
We are inspired by and admire the speed of innovation in the blockchain ecosystem. However, we have been discomforted by the fact that, unless more people gain exposure to blockchain, those innovations will only benefit a select few. The community requires a simple, secure, accessible and global platform.
With over one thousand cryptocurrencies on the market, knowing what and how to buy is a complicated process that involves digital wallets, exchanges, passphrases, and other security requirements. Bamboo takes the confusion and complexity away by easily facilitating the automatic purchase of a diversified portfolio of cryptographic assets with as little as one dollar. By enabling microsavings, participation in the blockchain ecosystem becomes a simple part of our users’ daily routine.
The community requires a simple, secure, accessible and global platform.
Building upon industry leading best practice, the Bamboo platform manages cryptographic assets securely and transparently. We accomplish this through public cryptographic means called Proof of Solvency. This functionality is currently limited in the market, and Bamboo’s implementation enables a level of transparency and user confidence beyond current global banking standards.
The Bamboo platform rethinks the blockchain on-boarding process, focusing on inclusion and widespread accessibility. By leveraging existing anti-money laundering (AML) and know your customer (KYC) checks, our links to banking infrastructure, and our focus on friendly design, we allow those who would otherwise be left behind to participate in the blockchain ecosystem.
We have global ambitions, and a pathway to get there. Our launch markets are Australia, the United States and Switzerland, before we expand further into Asia and Europe over the course of 2018 and 2019.
The token sale raises funds for development and marketing of the platform. The BAM utility token (ERC20) powers the Bamboo platform by being a distinguishable and transparent unit of account that allows users to pay for discounted fees.
Attention. There is a risk that unverified members are not actually members of the team
The BAM token is the unit of account on the Bamboo platform. It is an ERC-20 token, which is fully compatible with the Ethereum network. BAM tokens can be freely transacted as holders see fit, and are used to pay fees on the Bamboo platform. Fees paid in BAM tokens on the platform are maintained for the following key reasons:Auditability: Fees charged in BAM are logged on the public blockchain ledger and remain transparent and available to be audited at any time.Borderless unit of account: BAM is a consistent unit of account across the platform, regardless of any user’s geographic location, and the token acts as the native future of value exchange.Counterparty risk reduction: BAM fees are collected and settled immediately, which reduces exposure to counterparty risk.Network effect: The price of the BAM token is driven by the network effect of all users, and a significant increase in the number of BAM users should lead to an increase in the token’s value. The market capitalisation of BAM is separate from the revenue stream that Bamboo generates for providing the service. The amount of BAM that Bamboo levies is determined by the value of the underlying portfolio assets, and any change in the price of BAM is realised by holders of BAM.The Bamboo team believe that the use and integration of the BAM token within the Bamboo ecosystem will enable future transparent and borderless economic activity.
Main positives:Bamboo was founded on the desire to make purchasing cryptocurrencies easier, and there is a definite gap in the market for an efficient, easy to use app that allows any mobile phone user to invest in cryptocurrencies. Over the last few months, major cryptocurrency exchanges such as Coinbase, Binance, and Bitfinex have experienced a huge surge in signups, which shows that there is demand for a service that provides easy access to the blockchain economy. As mainstream media continues to focus on digital assets such as Bitcoin, Litecoin, and Ripple there will be a natural increase in the number of individuals aiming to invest in cryptocurrencies.
Main negatives:The project is still in the early stages of development. The full whitepaper is yet to be published, and the platform is currently in closed beta testing. The platform is expected to be released to initial target markets in mid 2018, with additional markets scheduled to be added afterwards.As with all wallets, exchanges, or asset management services, adoption is crucial and marketing plays an important part in increasing both visibility and interest in the project. Bamboo’s social media channels need some work, as the Telegram channel has less than 1000 members and the Twitter account only has around 100 followers.The Bamboo team also face competition from more developed projects such as Ethos, Bread, and Eidoo.
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