Nesh Sooriyan of Bamboo Blockchain on Crypto Clothesline
From start-ups in San Francisco to cafes in LA to offices in Switzerland to television in Korea to reviving villages in Sri Lanka: Bamboo is an international organisation, with an Australian influence, taking care of people on the ground floor level of crypto-acquisition, all over the world…
Bamboo’s system is based on how to make it easy for everyday people.
Firstly you download an app on your smart phone, which connects to your bank account and credit card. Within 46 seconds you could have used $1 from rounding up your purchase of a coffee for example, towards a high-performance cryptocurrency.
You get to choose which cryptocurrency you prefer to acquire – from a menu that includes Bitcoin, Ethereum, Monero and more. You end up with a collection of micropayments, like spare change you get to save in the form of crypto. These mini-spends hardly break budget as you’re not having to acquire thousands or even hundreds of dollars in contributions towards crypto, you’re just literally getting some crypto, albeit small amounts, every time you make a purchase with your card.
You choose how much you want to round the amount up to. For example, say you buy a coffee for $4.50. You decide how much extra from that purchase you want to allocate – like 50c, in which case the transaction would result in you spending a total of $5.00, or more if you wish.
You can switch currency so instead of buying Ether you can buy Bitcoin, you can sell your crypto back into cash and see that reflected back into your bank account, and you can even switch your Ether into Bitcoin for example, if you wished. So in that sense Nesh says the Bamboo app reflects some functions of an exchange.
This system makes it easy for everyday people to ‘get in’ to crypto, without having to learn all the information you need to know in order to understand what’s going on and how to stay safe in the hacker-rich crypto online environment. There appears to be a strong humanitarian drive to empower people on the street to be part of this massive wealth exchange, based on an individual’s appetite for risk while at the same time ensuring that your purchases are kept safe.
We discussed whether this application might be introduced to developing countries, and Nesh commented that while this would be their wish, users would need to have access to both a smartphone and a bank account, so perhaps that would be a focus for the future.
Nesh confirmed that cryptocurrency is an asset class that will change the world, and that people are suffering also here, in our so-called ‘developed nations’.
“Wealth distribution occurs while technological revolutions are happening.”
What this means for people who are rushing along in the maelstrom of daily life, barely coping with the demands of working long hours, commuting, managing a household, playing psychologists to the challenges of our children and families and simply dealing with the myriad of attention-clustering demands that beseech our worlds…is that we drift off and miss these technical revolutions because it’s ‘all too hard’ to remain abridge of what the $&^% is going on.
Most Ma and Pa Kettles will miss the crypto boat, unless they have easy access to facilities like the app being developed presently by Bamboo. Does your grandma know how to contribute towards an Ether? Do your in-laws know about crypto? (Do you care?) Does your husband know how to buy a Bitcoin?
The fact is, that most of us could count nine and a half fingers’ full of people we love and care about, who don’t know, don’t care about, or can’t be bothered with… Crypto. Chances are they are subject to the influence of questionably biased information on conservative media channels and don’t want to know about it.
But those of us are in the know, those (relatively few) of us who are contributing some of the family budget towards this ‘bubble’ of the future, are nervous and worried, not that it’s a bubble – but that our loved ones will miss out.
Find out more:
Find out more:
Matt Morrisonof BlockBoxx on buying crypto through FOMO
Bonnie Yiuof Consulere.io on The Right to be Forgotten