Dear J.P. Morgan’s CIB team,

It is hard to be short with the most important letter in my life but I will do my best!

My name is Andrew and I want to change the world! I love blockchain because it makes such a loud

intention real as never before. Financial sphere – is the best one to start from, as soon as people tend to feel

changes first of all in their pockets. There is a huge, tremendous potential, which crypto opens to the whole

world and financial specialists in particular. The market is borderless for the moment as for exchanges, as

for wallets and other services as soon as this market is brand new in terms of technology and possibilities it

provides. Flexibility and multifunctionality of a new technology, virginity of the market let us to create

new services or features “on the go”, to create demand. New economy is full of possibilities, fundamentally

new possibilities which should be realized asap.

Bitcoin is the fastest growing startup investment area because it is the brightest representative of powerful

blockchain technology. Money is the wisest substance on the planet. Money loves Bitcoin and feels its

potential, investors understand that there is a lack of time to get a piece of sweet pie. USD 1 billion

investments proves it and lets to accelerate sector growth, to extend new economy footprint to more

markets. I am sure, investors’ choice is based on facts that operational expenses are dramatically cut,

borders become more nominal for money rivers and oceans, decentralization is growing by hours – it

impresses so much!

There are numerous settings and tools inside new born financial products/services to get a new customer

and fix it. I see a crucial and often mistake – thus a market opportunity – in crypto space: CEOs and their

teams forget about a level of their clients’ crypto-education and financial in general. Support, client

following through all processes (e-mail and FAQ, contact center) is a major factor to win that client

keeping balance between functionality and usability (software is only as good as its GUI; some projects

still use CLI – crazy!). It should be Lego but not an aircraft panel. Majority of market players’ target

audience is geeks and new wave financial specialist (mini-“quants”). I prefer Gartner’s “Hype Cycle” and I

am sure the Bitcoin has passed “Trough of Disillusionment” already – “Slope of Enlightenment” is

coming! Hot times!!! The winner will cover mass market with its needs and wants, with its level of

understanding the technology. By the way, providing knowledge not only through FAQ but starting

branded school/courses (separate or in terms of specialized events like conferences, exhibitions etc.) will

become an efficient marketing tool and will contribute to the common cause of money and society’s future.

“Coinbase” aggressive marketing with its triple bonus is archaic (but they should spend investors’ money).

Security – the next top importance factor! Lots of projects were killed because of internal system

weakness. Stakes are too high as for service/product owners, as for “hunters”. Top level security specialists

(with equity), two factor authentication (either “Google” and “Authy” soft or “Yubikey” hard),

understanding of security issues and applying of these tools from client’s side – “must have” security set.

Additional marketing tool is getting insurance partner because clients (common people) will get the fact

easier as a guaranty of their assets than TFA. Unfortunately, we have an example when “BitPay” and

“Massachusetts Bay Insurance Company” shows us a failure of such a scheme of cooperation, but it seems

to be a question of a right settled agreement which would provide the client (“BitPay”) with 100% position

to avoid claiming. Or there is an example of a marketing tool also – to create newsbreak. Risky but it

works!

The Bitcoin technology is rather flexible – we need to keep abreast! E.g. because of debates on a block size

and stress tests the wallet feature “fee size” may become crucial being already very important for users

which have “time of confirmation” as a key factor for their business. Wallet built-in analytical tool will

become additional bonus for the audience: mechanism will analyze current mining market situation

proposing the client to make the choice between time and fee size showing mutual changes according to

client’s preferences (less time – more fee and vice versa) in a user friendly graphical manner.

Combination of old and new technologies provides additional impulse for growth. E.g. “BitX” early

strategic move with “Zazoo” provided its clients with mobile virtual card (MVC). Will a debit card become

the next step which let their clients forget about the difference between old school fiat and new era assets?

“E-Coin” did the same step and even trying to get USD 3 for each card. Strange thing which creates

additional barrier for a new client to enter. I contacted them and asked about this strange payment request –

the answer was “…to prevent freebie-lovers who will never ever use the card”. What is the problem with

providing lots of MVCs? Are there huge transaction costs? I do not think students will run like a wave to

get millions of cards, but (I am sure) lots of your potential clients will smile, when they read about USD 3.

Again, it is a question of transaction costs, but the market is very dynamic and there is a lack of time to risk

so much losing potential clients by building so little but so visible wall of USD 3. By the way, “BitX”

marketing guys even say that I can have separate MVC for each of my transaction. I did not try, but I have

this info in my mind - I am not limited with any entry fees or smth! I can have lots of MVCs! Marketing

move? Maybe... But I (the client) have it in my mind!

Technology let us be as creative as it is possible – codding has no boundaries! Thus we can put exchange

function into the wallet. Easy to use multisig accounts would make wives happy to control family budgets

like any financial boss would be happy also to have 100% expenses control instrument (personal or

department, project etc.). We can propose additional profit instruments for our exchange clients through

providing PAMM accounts or start liquidity providers program. Because of a lack of time I will not deep

inside of cross-border payments and remittance market but it is a top interest and mega profitable business.

For sure – it will become hard to keep clients only with wallet functions.

The task is really hard but we do not pray for an easy life, we pray for the strength to endure a difficult one

(as Bruce Lee said). “Slope of Enlightenment” challenges us to be as fast and as high-quality as it is

possible. It is a question of team and investments. “J.P. Morgan’s CIB” has both and what is more

important – it has a significant result, growth and improvement of innovative products and services.

Bitcoin/blockchain is international thus an international expansion must be! New markets allow increasing

company’s revenue and “blur” many costs (e.g. development), to fix its presence for the future and start

learning local audience and getting experience just now. European market is rather interesting despite its

third place in BTC-trading volume (with its 5% EUR in total) with “Bitstamp” and “Bitfinex” exchanges as

leaders. Plus there is a good climate – Bitcoin has been recognized by the leading European economy

(German Finance Ministry) as a "unit of account" two years ago. While the US seems to be speeding ahead

of other nations in terms of incorporating Bitcoin (tighten the screws at the same moment), the

cryptocurrency’s adoption level is still likely to be increased maximally in developing economies like

Poland which is a rocketing emerging market. Being CEO of Postman Europe – international postal

operator in Poland (which launch I was responsible for) – and analyzing the market I saw a significant

dynamics in Polish trade in general and e-commerce sector in a particular with +25% stable turnover rise

annually – a really nice base to start the expansion from!

I would be happy to strengthen the team sharing all my 20 years’ experience, which last two years I was a

part of “PGK Groupe” – one of leading Ukrainian logistics group of companies (has merged with “Meest

Group” in 2015). I have started as a project manager in “TOCHKA” – online purchases support service

chain – in April 2013 and was set as a CEO of the project for a month. I was responsible for budgeting,

interacting with contractors (tenders and contracts), top and middle level human resources interviewing and

approval, support contact center launch, communication with key clients, setting basic marketing pool

(brand book, site, corporate identity etc.) keeping launch timelines and working with state bodies through

all Ukraine. It was the hottest summer in my life with no weekends but we have achieved a goal in

previously set up terms in all 28 cities (several Crimea points were closed)! I was appointed as a CEO of

the fulfillment start-up in “PGK” and started its development just after the previous mission had been

completed successfully. The task was to build an executive team (with strong internal discipline), to set up

budgeting and formalize all processes, develop staff-motivation program, to build communication with

clients and promote business raising revenue – to make a business out of a “let’s try”-company. One of key

roles was the software development project management (WMS – warehouse management system, which

was used by us and was ready to launch as SaaS). It was a very challenging project because of its huge

volatile scaling in terms of clients and appropriate company’s resources. An international project “Postman

Europe” was launched since December 2013 simultaneously with business activity in Ukraine –

international postal operator which was based in Poland (Warsaw) and targeted on ex-CIS market. Being

CEO (Prezes Zarzadu) I coordinated registration procedures through communicating with local law office

in Warsaw, developed work-flow including as internal processes (postal operator side) as external like

interaction with clients and state bodies (Customs) including the whole documents turnover (both export

and import) – it was the most challenging task as soon as I have had no experience in this rather

complicated business with lots of rules and restrictions. Easy part of duties was to choose temporary

outsource transportation company (tender and contract), to find support staff and warehouse workers, to

find right location. There was also a piece of work – to prepare private documents to make my migration

process legal. I am absolutely ready to move worldwide anytime and anywhere. Please find more

information about my background and work experience here.

Let me assure you – “J.P. Morgan’s CIB” team gets creative and business oriented partner which shares all

his ideas and projects! I would be happy to launch all of them with you. The best one is remittance service,

which is similar to “Abra” (too slow despite investments), but more decentralized and flexible in a meaning

of fees, terms and conditions which are provided to Clients – it is more open and based on supply and

demand model, but not a fixed rate proposition from just ONE player. And it is not about defocusing

because of non-core projects – it is about using current unique market situation and getting extra-profits!

I strongly believe that being concentrated on just one service is risky and profitless. To build and develop

the financial platform but not a single-service provider – success strategy! It is not only about hedging risks

(closing of “Harborly”, “Buttercoin”, “Vault of Satoshi” and acquisition of “Cavirtex” – this is only about

North American market) providing future investment diversification – it is the smartest strategy on almost

empty market getting clients through omni-channel service structure. I analyzed the market and found only

two significant players, which get investments and follow this strategy for the moment – “BitX” (USD 4,8

M in 2 rounds) and “BitPay” (USD 32,5 M in 3 rounds). Investors do like the strategy!

They know something ))

As full is the cycle – get-hold-manage-exchange – as successful and profitable is the whole group (e.g. due

to a lower customer acquisition cost and higher growth rate), as stable and more risk free is the investment.

Of course, vertical oriented development needs high qualified team in each direction as soon as mistake on

one level will reflects on the whole chain in customer’s mind. Team – is the key to success. Money needs

team, which is able to convert investors’ USD into service and product improvements, into quality, into

satisfied customers – into revenue. I am your team!

Dear team, I truly believe that “J.P. Morgan’s CIB” will become my family for years. I truly see myself as

an entrepreneur who creates and loves to see the result either team or personal (which is also team

eventually). To be a part of international team – is my goal. To be a crypto/blockchain/Bitcoin evangelist –

is my mission as soon as this base of new economy is my first and (I am totally sure) last love which I will

give all my passion.

Looking forward to hearing from you soon!

Best regards,

Andrew Zaichenko.

https://www.linkedin.com/in/gnosteek skype: pi.crew mail: gnosteek@protonmail.ch mob: +380 67 218 81 89