When I learned that Bitcoin had risen to more than $20,000 per coin (is that the right way to say it?), I scoured my emails from 2009 on to see if, just by chance, I had bought some Bitcoin from some tech geek I had known sometime in my days of WiFi. Nope. Nothin. I hadn’t heard of Bitcoin until 2013 when I met one of the founders of BitPay, so there’s no chance I would have invested in Bitcoin before then. I have friends who deal in cryptocurrency today, but I have no idea how they go about buying and selling. There’s no option for that in my Fidelity account.
Who is the entrepreneur?
Brandon Elliott started Javvy. That’s all we know. Turns out he’s a network engineer with some solid certifications. In such a new space like cryptocurrency, any audience is going to need some idea of the founder’s background in the subject matter at hand. If Brandon is a cryptocurrency uber nerd and has conducted hundreds of cryptocurrency trades, that might be all we need.
What is the problem?
It’s incredibly difficult to buy & sell cryptocurrency. Just this morning I saw an announcement that Fidelity (total coincidence) will roll out cryptocurrency and blockchain products by the end of the year. That tells me, a total newb at cryptocurrency, that the buying and selling of these currencies is not yet mainstream, but it’s coming.
What is the solution?
A mobile app for all platforms to make it easy for anyone to buy and sell cryptocurrency. That’s all we need, as long as we know he’s the guy to make it.
Who is the customer?
“Anyone”? No, everybody or anyone is not your customer. Since Javvy will be making a mobile app, the target is by definition individuals. However, buying and selling cryptocurrency does not have the same broad appeal as Instagram or Snapchat. Instead, he should define his target audience as those individuals who actively engage in trading individual stocks, currencies, and other high risk investments.
What is the ask?
Brandon is looking for an assistant. This ask reinforces my point above that Brandon should give us just a hint about who he is and why he’s qualified to make this app for cryptocurrency trading. If he only needs an assistant, then he’s got everything else under control. At least that’s my assumption. Turns out, Javvy has quite the team!