We will become a leading corporation in building global Bitcoin financial infrastructure.
Lee Jang-woo, CEO of Uproot Company, expressed this aspiration. Uproot Company is a startup operating the solution 'BitSaving,' which automatically accumulates and invests digital assets through data analysis. Lee established the company in January 2022. Since 2019, Lee has been a part-time professor at Hanyang University's Global Entrepreneurship Center, teaching blockchain business. Previously, in 2017, he operated a blockchain academy.
Digital assets are being recognized as rapidly growing assets and a new investment avenue for the MZ generation. Earlier this year, a Bitcoin spot exchange-traded fund (ETF) was approved in the United States.
However, most people experienced losses after investing in digital assets. According to Lee, 5 out of 10 office workers have experience investing in digital assets, and among them, 70% have suffered losses.
Lee noted, "To address the issue of individuals experiencing losses from investing too easily in highly volatile digital assets, we developed the BitSaving platform." BitSaving only invests in verified Bitcoin and Ethereum among thousands of cryptocurrencies.
BitSaving automatically invests when customers set the amount and duration they wish to invest. They only need to connect with the virtual asset exchange they are using. BitSaving recommends options to customers, but the final purchasing decision lies with them.
BitSaving has applied on-chain data analysis and artificial intelligence (AI) technology. Lee stated, "On-chain data refers to the data recorded on the blockchain, which can help us determine whether the market is overheated, at the bottom, or in an opportunity zone," and added, "Essentially, when the market is overheated, you should buy less, and when it is at the bottom, buy more."
Currently, the number of BitSaving users has reached 9,000, a 4.5-fold increase over the past year. Additionally, the daily Bitcoin purchase amount has increased 35 times compared to the beginning of the year.
Uproot Company is actively pursuing overseas business as well. In the first half of this year, it expanded into Peru.
Lee remarked, "South America has an unstable currency value and high inflation, which is increasing expectations for alternative currencies such as Bitcoin," adding, "We plan to use Peru as a foothold to expand BitSaving services throughout South America."
Lee continued, "Next year, we will expand into Vietnam, which has a young population and a high interest in cryptocurrencies," emphasizing that they will create a K digital financial boom in the Southeast Asian market.
Uproot Company is also pursuing environmentally friendly energy projects linked to the Bitcoin business. One of the drawbacks of hydropower and other green energy sources is that surplus electricity is often generated, which will be utilized for Bitcoin mining through a 'green energy financialization solution.' In the long term, it can also secure carbon emission rights.
Uproot Company is preparing to launch a green energy financialization solution service in the Kyrgyz Republic. The plan involves installing micro-hydropower generators along a 3,000 km artificial waterway to sell the generated electricity to local communities and use any excess power for Bitcoin mining.
Lee mentioned, "We are conducting a consortium with Sungkyunkwan University and domestic generator manufacturers to advance the green energy financialization project in the Kyrgyz Republic," stating that "Currently at the proof testing stage, we plan to complete the testing by April of next year and aim for commercialization in the second half of the year."