Partnering with Bamboo to develop a Proof of Solvency protocol
We are pleased to announce a new strategic partnership between Albacore and Bamboo, a micro-investments platform that allows anyone to seamlessly purchase cryptographic assets.
Cryptographic assets now form a larger part of people’s investment portfolios, and as a result more and more companies dedicated to buying and managing crypto-focused assets have come into existence. Thanks in part to the open and decentralised nature of the blockchain, these companies are in a unique position to provide an unprecedented level of transparency to clients while traditional institutions have fallen behind.
Albacore are excited to be working with Bamboo to jointly develop a Proof of Solvency (PoS) protocol for their flagship product. The protocol will allow users to independently and publicly verify at any time that Bamboo has a sufficient amount of assets to covers its liabilities. This has the benefit of giving their users the peace of mind that their funds are always available should they choose to withdraw it.