Alternative banking: Interview with Eric Alexandre of Jetcoin Institute

Forget the traditional banking system and get educated on the alternative — cryptocurrency

What is Jetcoin?

Jetcoin is a cryptocurrency I created, influenced by my experience when I was Managing Director of Elite Model Look. At that time, I had several meetings and talks with investors and bankers on the concept of developing a fund for talents. The fund I had envisioned would enable people to directly invest in talent and earn revenues according to the talent’s performance. Shortly after, a close friend of mine involved in both investment and cryptocurrency invited me to a Bitcoin Conference.

It was a real eye-opener for me. I quickly saw the potential of leveraging on the blockchain technology to create a marketplace where anyone in the world could invest and benefit from their favourite talents.

I decided to launch Jetcoin in the fields of sports and entertainment, industries dominated by powerful agents and large international labels and agencies. When starting their careers, aspiring talents can face several challenges, such as getting noticed and signing a contract. In many cases, if a talent hasn’t got the right advisers and financial support, he’ll end up being seriously taken advantage of.

We want to tackle these challenges, ensuring talents receive the right support. Jetcoin intends to encourage this through personal investment in talents, directly from the fans.

How do you intend to do this?

Jetcoin provides fans with the opportunity to receive a portion of the talent’s future earnings. The more successful the talent becomes, the more his or her fans benefit financially.

Jetcoin envisions driving this fan-to-talent relationship with what we call “Proof of Social Engagement” (POSE). This rewards fans and supporters with JETS (the Jetcoin currency) when they engage in social media activities.

In the early stages of a newly-signed Jetcoin champion, it helps to create strong and fast social media awareness by creating a buzz, drawing interest from potential sponsors and early investors of the champion. In the second phase, POSE is even more relevant as it gives a true metric of the Jetcoin champion’s social media popularity, hence helping to valuate the Jetcoin champions’ potential contracts with sponsors and brands.

As a champion’s performance improves, the value of their assets increases, which in turn creates revenue for the fans and supporters.