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Exclusive Interview with Adam Kitain: MyCoinSolution


Exclusive Interview with Adam Kitain: MyCoinSolution


MyCoinSolution’s mission is to:

Our mission is to make bitcoin widely accessible. We help our clients understand the benefits and risks associated with Bitcoin, enabling them to make the best decisions for payment processing.

Regarding Adam, according to MyCoinSolution’s website,  has a background in Electrical Engineering and CS at the Georgia Institute of Technology. He has since worked for IBM leading strategic enterprise transformations. Currently, he devotes his time to making Bitcoin more widely accepted.

Joseph Fiscella co-founder and programmer, actually introduced me to this project, which also happens to be core developer for FlorinCoin, read my article with him here.

Also according to MyCoinSolution’s website, He is a programmer, miner, alt-coin core developer and founding member of a Bitcoin protocol software technology company, Joseph has been full time Bitcoin since early 2014. He specializes in taking the powerful technology behind Bitcoin and implementing it in user-friendly web-based applications.

I will be talking to Adam today, but I thought it was good to know whom we are talking to here. And now for the questions!

1. Can you tell the story of how MyCoinSolution was created?

My Coin Solution was born out of the ashes of Mt. Gox in the sense that the resilience and promise of the Bitcoin community at that time inspired me to create this company. I recognized the potential in Bitcoin as well as its underlying technological innovation, the blockchain. However, I also appreciated that there was a gap between the technical Bitcoin community and those in a position to leverage Bitcoin to help their business. Enter My Coin Solution, we bridge that gap and help managers at businesses understand how Bitcoin can benefit them and also do their integrations. We feel that although Bitcoin has made a significant splash in mainstream media, most companies that are leveraging it are a fairly niche market and we’re trying to change that.

2. Future development plans?

Right now we’re working on expanding our customer base and gaining credibility. In due time, we plan to work with a wider range of customer types, sizes, and industries. Going forward we’d also like to offer a wide range of Bitcoin resources to our clients, including merchant services, full nodes, web and wallet hosting, etc.

3. What made you turn to Bitcoin?

It sounds cliche, but I believe Bitcoin is the next big thing. The day I learned about Bitcoin was in January 2013 from my current business partner, Joseph. He explained it to me and I was admittedly skeptical. A week later after letting all of the facts settle and doing some research of my own, I had a knot in my stomach. It was one of those moments when you think “Wow! This is pure genius, it’s such an elegant solution to such a big problem”. From then on, I’ve been an enthusiast and advocate for Bitcoin, trying to understand its strengths and weaknesses from every angle. To this day, I truly believe that its inherent advantages will change the way we think about sending money.

4. Do you pay employees and/or services in Bitcoin?

We are all about flexibility. Our employees have the option to be paid in Bitcoin or in cash.

5. How do you HODL BTC? All of it, or convert to fiat or what?

Typically we convert our Bitcoin to fiat for tax purposes. The only exception is when we pay our employees in Bitcoin, because the tax mechanism behind our compensation plan and our employees preferences allows us to do this easily without having to worry about complicated tax returns or high overhead costs.

6. Anything else Adam?

Nothing specifically, but there are a few points I want to emphasize. My Coin Solution was started to make Bitcoin accessible to people without the technical background or expertise. Our vision is that one day Bitcoin is used by the masses, potentially knowingly or unknowingly. Although there is a large movement in this space, we are the only company working directly with consumers and merchants trying to accelerate this process.
I also want to point out that we have an amazing team in place. I have a background from IBM in consulting where I did business strategy and enterprise level big data. I worked with data analysts as well as C-level executives to help them drive business value through deep statistical and big data analytics. Joseph is a programming wizard – you’ve heard people talk about 10x programmers, well Joseph is a 100x programmer. He’s extremely well versed in the entire crypto space as well many related technologies. He leads the development on Florincoin and creates low-level applications built on blockchain technology. Finally, our newest member, David Drexler, has a background in sales and has been instrumental in working on our brand and marketing strategy. Together, we bring many different skills to the table and complement each other.
Adam also wanted me to include the contact information of their communication director, which you can see below as well as their website.
David Drexler
Director of Communications

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