Phil George, the chief executive and co-founder of cryptocurrency micro-investment app Bamboo, aims to ‘democratize finance’ and wants to provide easier access to investment opportunities. George states, “Our platform aims to provide access to different investment opportunities like cryptocurrencies”.
Bamboo function, in a manner similar to the popular Raiz Invest App (formerly known as Acorns), allows its users to put their spare change to use in their portfolio. It is set to launch in Australia and the United States. The spare change that users have lying around the house, thanks to Bamboo, can now be invested in cryptocurrencies such as Ethereum and Bitcoin.
Bamboo also has more use cases for it apart from micro-investments as it also has plans to extend its reach into sectors such as real estate and commodities. The budding blockchain startup has the entire team onboard its vision of extending the benefits of blockchain technology with the rest of the world. George commented on the sentiment by saying, “We believed that blockchain represented new technologies and opportunities but were far too difficult to have any level of exposure to. We want to make products and tools that made it easy for anyone to get involved. We call it democratizing finance. The micro investment app is really the first and most obvious thing we do to make these opportunities accessible to everyone”
Bamboo’s chief technology officer and co-founder, Peter Hume, states that Bamboo was created and designed in order to make the process of investing in cryptocurrency as simple and accessible as possible. He adds, “Cryptocurrency investment is niche, cliquey and highly technical. We see the potential and promise of blockchain and wanted to extend the opportunity to everyone. A lot of the third world nations are eager, if not more eager, because the barrier to entry is so low with the app that everyone feels that they have an opportunity to be a part of it and they do.”
Bamboo announced yesterday via its Twitter page that it would be bringing onboard Colton Dillon and Taylor Culbertson to help direct their acquisition strategy till they time they reach their target of two million downloads. Currently Bamboo has over 4,100 potential users that have expressed their interest in using the app.