• Bitcoin to the People

    In Croatia, a small startup project called Coinsulter aims to link the digital currency Bitcoin to the world of the consumer-market.

    When Luka Klancir comes home from his regular job as project manager in a digital agency in Zagreb, Croatia, he hardly ever calls it a day. His second job and primary passion, Coinsulter, still awaits. The app shall change people’s money matters and will allow them to use the highly talked-about digital currency Bitcoin. Moreover, a personal financial advisor is included in the service.

    Together with his former fellow students Filip Rafajec and Vinko Horvat, Klancir runs www.crobitcoin.com, a Croatian Bitcoin information portal. They founded Coinsulter in 2014 as an “extended arm of the portal, that is now in the project phase and will be launched in the summer of 2015.”

    Bitcoin or bit-what?

    Bitcoin is a digital currency not issued by a state. It operates by a “virtual ledger” called the blockchain. To use Bitcoin, e.g. to make payments or investments, you only need a key-phrase and an app on your mobile device or computer.

    Luka Klancir first got in contact with the idea when he lived in Graz as an exchange-student in 2013. “Back then, Austria already had a good community of digital currencies – unlike Croatia at that time,” remembers Klancir who returned to fill the gap.

    The three entrepreneurs financed Coinsulter by keeping their day-jobs and are still not looking for investors. “I think waiting until we have more things accomplished will make us more interesting to investors.” And while the young entrepreneur admits that working two jobs does take its toll on his private life, he says he is willing to make that sacrifice.

    Social Impact Rewarded

    Besides the prospect of financial success, Coinsulter proposes a financial and social revolution, as the founders are well aware. “By excluding the banks, digital currency gives people more freedom. In countries where the banking-system is underdeveloped, this can be a way of getting paid or financing your business.”

    Winning the Social Impact Awards in 2014 added to their insight into the business-world. “On the way to the SIA we attended workshops, learned about pitching and proper business-planning. If you propose an abstract topic like Bitcoin, you have to learn to speak plainly about it. And of course, winning the award boosted our motivation,” he adds.

    The next goal after launching the app is to establish a company. The Coinsulter-app will only be the first in a line of a series of services. “We are already talking about possible applications and ideas around ‘the internet of things’, which I think is going to be the next big trend.”

    Whereas Klancir does not believe Bitcoin will replace the euros one day, he thinks that digital currencies will become increasingly important for international online-payments and for professional currency-investors.

    What would you say to others like you?

    Do not think starting a business will be an easy ride. It is going to take some sacrifices, but these can pay off nicely and maybe make the world a better place.

1 Comment

  1. Rofi says: 20.02.2016 at 21:28

    Well, the un-traceability is slightly ovtetsared, as I understand it. If you’re willing to go to a lot of bother, you can make it more untraceable, but you can’t make it completely absolutely untraceable.Is the word dangerous the correct one? I’m thinking disruptive is more accurate. The Internet is described as dangerous , too, but it’s disruptive not dangerous.But if he’d used disruptive , would he have gotten as much attention?It’s not *just* a political statement. If it works for some purposes micropayments or convenient meso-payments or alternative to national currencies or inflation hedge it’s an asset, much like a natural resource. Gold. Petroleum. Fish. Only it’s artificial. An artificial resource, like a reverse phone directory, or a bourse, or precious metal made into coins.If a major currency takes a Zimbabwe-style nosedive, we can expect bitcoin bans, that end-user prosecution . Suppress the symptom and create a scapegoat. A two-fer.

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