Unveiling our newest feature!
As a custodial service, we should provide our customers with best-in-class security and peace of mind about their investments.
Digital assets are difficult to safely manage, and the ecosystem has been plagued by scams and thefts over the last few years. Millions of dollars have been lost, and investors have had little opportunity to recoup their losses.
It’s no wonder that people are skeptical about using third party custodial services to buy and store digital assets. For many, however, the complexity associated with buying and safely storing these assets on your own is just too high. Unless you can safely store and manage digital assets, you can’t participate in investing in them!
This gets to the core of why we started Bamboo: to make investing in digital assets accessible and safe for everyone.
Today, we are excited to announce a brand new feature that will take us closer to that goal, and we think makes Bamboo the most transparent custodial service ever.
Bamboo will be the first custodial service in the world to implement a true Proof of Solvency. We will be regularly releasing reports to prove that we have all customer funds safe and accessible (i.e. we have not lost any funds or stolen them). And because we want to be more open and transparent with our customers, we’re letting them verify our reports for themselves. This means that YOU the customer will be able to audit us and have the peace of mind that your funds are there.
Bamboo will be the first custodial service in the world to implement a true Proof of Solvency.
This is akin to a bank opening up its books for all users to see, inspect and audit. This sounds like a radical strategy but we believe that this level of unprecedented transparency is what is needed to ensure that people feel safe when investing in digital assets.
This feature will be rolled out over the next five weeks, but beginning next week, we’ll release a series of blog posts where we will discuss why we think this is important, how it will work and how our customers will be able to participate.
– With 🌱 from the Bamboo Team
The Bamboo App is now available for download on the iOS App Store.
If you have any feedback about your experience we would love to hear from you.
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