Live Case – Project
Develop a Growth Strategy for Coinsource’s New B2B Bitcoin ATM Platform as a Service Model
A Collaboration Between
SPRING 2020 ACAM LIVE BUSINESS CASE COMPETITION
Coinsource is the world's leader in Bitcoin ATMs and also the largest global operator. Since launching in 2015, Coinsource has focused on providing consumers around the US with access to Bitcoin ATMs. Now that they've validated their B2C model and are reaching consumers across 44 US States, Coinsource has just officially launched a B2B approach, which enables enterprise customers from around the world to leverage their technology and infrastructure to own and operate their own network of Bitcoin ATMs. This turnkey Platform as a Service model will ideally enable Coinsource to grow into the global leader and go-to standard for Bitcoin ATMs. The goal of this case is to help Coinsource better define their growth strategy with their new B2B approach, including a market, competitor, and target audience assessment. They're also eager to explore novel ways of reaching their target audience through unique and effective sales and marketing tactics.Project Topics
Data Management
Growth Strategy
Product Design & Development
Reporting, Financial Planning & Analysis
Sales & Business Development
Company Information
| Company | Coinsource |
| HQ | Texas |
| Revenue | Unlisted |
| Employees | 25-50 |
| Stage | High-Growth Startup |
| Hiring Potential | Follow-on Projects, Formal Internship, Entry Level Full-Time |
| Website | http://www.coinsource.net/ |
Company Overview
Coinsource makes buying and selling Bitcoin with cash easier and faster than ever with its state-of-the-art, proprietary software. Coinsource offers the fastest, easiest and most secure way to purchase Bitcoin with cash. It offers a remote enrollment feature which allows our customers to create their Coinsource account at home or on the go, greatly reducing the time needed at the physical ATM. Coinsource plans to grow through their Bitcoin ATM Platform as a Service Model, which enables anyone in the world to own and operate their own network of Bitcoin ATMs. Founded in 2015, the Texas-based company gives any person the ability to buy and sell bitcoin with US dollars at physical kiosks located around the country. Coinsource now has a portfolio of over 1000+ machines across 50 US States.
Experiential Learning Program Details
| School | The International Accreditation Council for Business Education (IACBE) |
| Engagement Format | Live Case - Think "Hackathon" or Case Competition with a whole class of students! This learning format allows educators to deliver experiential learning to students at scale. Students are often split into groups to work on a live case (or a series of cases) from a real host company that directly relates to key learning objectives. |
| Course | Coinsource Spring 2020 IACBE Live Case Competition |
| Level |
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| Students Enrolled | 40 |
| Meeting Day & Time | Tuesdays @ 12:00 PM ET |
| Student Time Commitment | 4-7 Hours Per Week |
| Company Time Commitment | 2 Hours |
| Duration | 4.43 Weeks |
Program Timeline
| Touchpoints & Assignments | Due Date | Type | |
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MATERIALS AVAILABLE FOR STUDENT PARTICIPANTS @ 9 AM ET
MATERIALS AVAILABLE FOR STUDENT PARTICIPANTS @ 9 AM ET
Students will officially be provided access to competition project charter so they can learn more about the company and competition prior to the kickoff.
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February 26th, 2020 | Event na | |
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STUDENTS MUST COMPLETE COMPETITION KICKOFF
STUDENTS MUST COMPLETE COMPETITION KICKOFF |
March 1st, 2020 | Evaluation evaluation | |
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OFFICIAL COMPETITION KICKOFF WEBINAR @ 12:00 PM ET
OFFICIAL COMPETITION KICKOFF WEBINAR @ 12:00 PM ET :We’re hosting a webinar to explain the competition. This will include a quick presentation about the host company (history, business model, industry overview) and an overview of the Live Case.
Watch the recording:
https://www.youtube.com/watch?v=xST1YzWt0Qo
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March 2nd, 2020 | Event na | |
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COMPANY OFFICE HOURS
COMPANY OFFICE HOURS Coinsource will be hosting virtual office hours for each of the student teams during the week of March 16th. The groups will identify a time to speak with the company’s leadership via Calendly. Each group will have one 30-minute session to ask questions and receive feedback. Link to schedule time: https://calendly.com/coinsource/ |
March 16th, 2020 | Event na | |
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STUDENTS MUST COMPLETE COMPETITION CHECK-IN
STUDENTS MUST COMPLETE COMPETITION CHECK-IN |
March 23rd, 2020 | Evaluation evaluation | |
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STUDENTS SUBMIT WRITTEN MEMO
STUDENTS SUBMIT WRITTEN MEMO
All teams must submit their 3-5 page (+ appendix) written memo in PDF format by 5:00 PM ET on March 27th, 2020. Late submissions will not be accepted.
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March 27th, 2020 | Submission Required submission-required | |
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STUDENTS SUBMIT FINAL PRESENTATION
STUDENTS SUBMIT FINAL PRESENTATION
All teams must submit their final presentation by 12:00 PM ET on March 31st, 2020. Late submissions will not be accepted.
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March 31st, 2020 | Submission Required submission-required | |
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FINAL PRESENTATIONS IN DALLAS
FINAL PRESENTATIONS IN DALLAS
Student teams will be presenting their insights directly to Coinsource\'s leadership team in addition to other local business leaders and academicians.
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April 1st, 2020 | Event na | |
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RESULTS ARE ANNOUNCED
RESULTS ARE ANNOUNCED
Host company will announce winner at the keynote at the conference.
DEBRIEF & WINNING TEAM EXHIBITION: We\'ll be debriefing and learning more from the winning team.
DALLAS EXCURSION: After the competition, we\'ll hop on a bus to explore Dallas, Texas!
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April 2nd, 2020 | Event na | |
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STUDENTS MUST COMPLETE COMPETITION WRAP-UP
STUDENTS MUST COMPLETE COMPETITION WRAP-UP |
April 10th, 2020 | Evaluation evaluation |
Key Project Milestones
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March 2, 2020 - Get Up-To Speed on Blockchain Technology, Bitcoin, and Coinsource's Product & Business Model
- What is Blockchain technology? How is it being used?
- What is Cryptocurrency? What is Bitcoin? How does it rely on Blockchain technology?
- How can Bitcoin (and various other Cryptocurrency) serve as an alternative to fiat currency and traditional banking?
- Why does Coinsource’s model rely predominantly on Bitcoin as opposed to other Cryptocurrencies?
- What is the purpose of a Bitcoin ATM? How are they different from traditional ATMs? How is it different from a Bitcoin Exchange?
- What is the Coinsource current B2C business model?
- Who are Coinsource’s users?
- How does Coinsource on-board new users? How does that make them unique?
- Why is compliance so important for Coinsource’s business?
HELPFUL RESOURCES FOR GETTING UP-TO-SPEED
What is Blockchain?
- https://coinsource.net/can-blockchain-technology-be-used-outside-of-cryptocurrency/
- https://coinsource.net/opening-the-gates-of-the-digital-economy/
What is Bitcoin?
- https://www.coindesk.com/learn/bitcoin-101/what-is-bitcoin(recommended)
- https://coinsource.net/what-is-a-bitcoin-worth/
- https://coinsource.net/how-many-bitcoins-exist/
- https://coinsource.net/what-is-bitcoin/
- https://coinsource.net/bitcoin-101/
- https://coinsource.net/18-common-cryptocurrency-terms-explained/
- https://coinsource.net/what-bitcoin-has-in-common-with-mark-twain/
- https://coinsource.net/is-bitcoin-legal/
- https://coinsource.net/take-me-for-a-trip-upon-your-magic-swirling-ship/
- https://coinsource.net/bitcoin-how-where-and-what-can-i-buy/
- https://coinsource.net/cryptocurrency-for-the-unbanked-and-underbanked/
- https://coinsource.net/private-keys-public-keys-addresses-and-wallets/
- https://coinsource.net/how-can-i-spend-bitcoin/
- https://coinsource.net/can-i-use-bitcoin-to-send-money-to-a-person/
Bitcoin Exchanges vs. ATMs
- https://coinsource.net/why-buy-bitcoin-from-an-atm/
- https://coinsource.net/the-problem-with-bitcoin-exchanges/
News & Current Events
- https://coinsource.net/coinsource-adds-dai-stablecoin-to-bitcoin-atms/
- https://coinsource.net/celebrities-and-bitcoin-whales-two-different-animals/
- https://coinsource.net/bitcoin-atms-growing-exponentially/
- https://coinsource.net/leading-bitcoin-operator-deploys-machines-throughout-upstate-new-york/
- https://coinsource.net/who-are-the-bitcoin-millionaires/
What is Coinsource? Why use their service?
- https://coinsource.net/frequently-asked-questions/
- https://coinsource.net/coinsource-rolls-out-2-way-bitcoin-atms/
- https://coinsource.net/enroll-before-you-go/
- https://coinsource.net/how-does-a-bitcoin-atm-work/
- https://coinsource.net/how-to-send-cash-to-someone-using-a-bitcoin-atm/
- https://coinsource.net/can-i-withdraw-cash-from-a-bitcoin-atm/
- https://coinsource.net/how-to-sell-bitcoin-using-a-coinsource-bitcoin-atm/
- https://coinsource.net/buying-bitcoin-with-cash/
The Future of Coinsource:
Suggested Deliverable:
- Prepare questions for the kickoff meeting 12:00 PM ET on March 2nd, 2020
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March 9, 2020 - Analyze B2B Strategy
Globally, there are currently over 6,000 Bitcoin ATMs. Over 4,000 of those are located in the US alone. The growth rate is 250% faster compared to the launch of traditional ATMs in the 80s and 90s. Coinsource anticipates there will be over 100,000 Bitcoin ATMs within the next 3-5 years. The goal for Coinsource is to provide the underlying software that powers at least 80% of those Bitcoin ATMs through their B2B Strategy. Watch this video to learn more about Coinsource’s B2B Strategy, helping interested business owners establish their own network of secure Bitcoin ATMs…
- What is the Coinsource B2B Strategy? How is it different from their B2C strategy?
- Who are the key stakeholders in Coinsource’s B2B Strategy? How do they benefit from owning and operating their own network of Bitcoin ATMs?
- Why offer Coinsource ATMs as branded or white-label with their new model?
- Why is the company going in this direction? Do you feel that’s a good choice? Why or why not?
- What is a Crypto-friendly bank? Why is it important to Coinsource’s B2B model? Who do they serve? How?
- How difficult is it to find crypto-friendly bank?
- How is Coinsource’s relationship with a crypto-friendly bank a competitive advantage?
- Why is compliance crucial for this new business model?
Suggested Deliverable:
Showcase your understanding of Coinsource’s B2B strategy in your final deliverables. Prepare for Q&A with the Coinsource team during Office Hours the week of March 16th.
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March 16, 2020 - Analyze Market Size, Segments, and Competitors
- Do you agree with the assumption that there will be over 100,000 Bitcoin ATMs within the next 3-5 years? Is this an appropriate metric for market size for Coinsource? What other metrics would you recommend using to analyze market size and market growth YoY?
- Who is the target audience for the B2B Bitcoin ATM Platform as a Service model?
- Consider: Traditional ATM Network Owners/Operators, Cryptocurrency Enthusiasts/Entrepreneurs/Angels, Financial Institutions and Service Providers, as well as others.
- What is the size of the market based on each of these segments?
- What segment of the market is likely to be the earliest adopter for Coinsource’s B2B product? What about most valuable customers for Coinsource? Support your argument with research and data.
- Are there other companies operating in the Bitcoin ATM Space? How large is the current market for Bitcoin ATMs? How do the various stakeholders take part in the ecosystem?
- Explore: https://coinatmradar.com
- How does Coinsource differentiate from its competitors from a product, strategy, and service perspective?
Suggested Deliverable:
Prepare for Q&A with the Coinsource team during Office Hours the week of March 16th. Include insights from your market research in final deliverables.
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March 26, 2020 - Propose Coinsource's B2B Growth Strategy
Based on your understanding of Blockchain, Bitcoin ATMs, and Coinsource’s new B2B business model and strategy…
- Who should Coinsource target first with their new B2B strategy?
- Where does this target audience hang out? What channels can be used to reach them?
- How can Coinsource improve their messaging and marketing materials to improve conversion?
- What should be the call-to-action for their prospective customers?
- What marketing strategies would work the best to convert this type of audience, consider:
- Digital
- In-Person Trade-shows and Conferences
- Influencer
- Engagement Channels and Mediums
- How would you measure success over the next 6 months, 1-year, 3-years, 5-years?
Suggested Deliverable:
Propose a growth strategy for Coinsource’s new B2B Bitcoin ATM Platform as a Service model so they can achieve their growth numbers as expected.
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March 27, 2020 - STUDENTS SUBMIT WRITTEN MEMO
Please submit your 3-5 page written memo (+appendix) in PDF format to [email protected] by 5:00 PM ET on March 27th, 2020. Late submissions will not be accepted.
Suggested Deliverable:
All teams are required to submit their written memos by email.
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March 31, 2020 - FINAL PRESENTATIONS DUE
Please submit your final presentation to [email protected] by 12:00 PM ET on March 31st, 2020. Late submissions will not be accepted.
Suggested Deliverable:
All teams are required to submit their final presentations by email.
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