JCF's Crypto Startup School application

90 second explainer of JCF for a16z Crypto Startup School

Joint Commonwealth Fund (JCF) is a crypto index fund to make basic income truly universal, and we aim to provide the safest and most accessible passive income vehicle out there that could one day potentially provide Universal Basic Income (UBI) for billions of people, by riding the crypto/blockchain mega-trend.

We’ve launched with a test fund in Oct. 2018 that has since gained 66% in value, doing monthly re-balancing of the top 10 crypto assets in the market, and did the first dividend payment (where the top-most contributor gets 7.6% RoI, while the bottom-most got 428% with just USD $10 of contribution, thanks to our wealth re-distribution design). Please visit our official site at: https://jcf.world to learn more.

We’ve recently learned of the wonderful 7-week, part-time “Crypto Startup School” course Andreessen Horowitz (a16z) is offering and decided to apply.

As with the same spirit of sharing our YC’2020 application, so people can understand us better and we can keep record for history, we’re sharing our application here as well, in hope that it’ll benefit the community at large. Enjoy! :)

Crypto Startup School Application

How did you get interested in crypto? *
I saw the massive creation & shift in wealth potential of crypto / blockchain and its potential in social goods.

Tell us about an important lesson you’ve learned through your career, hobbies, school projects, or products that you’ve built.
I’ve been a startup founder since late 2010, and recently realized that doing startup is basically learning how to execute a product/service/company vision with the correct steps and approaches. This is learnt through building 3 startups in the past 9 years.

Tell us in a few sentences about the most impressive thing you’ve built or achieved.
Joint Commonwealth Fund (JCF), our current company and service,
which may potentially eliminate poverty for good!

Video Introduction *
In under a 90 seconds, please introduce yourself or your team, and explain why you want to come to a16z crypto startup school.

Which of the following best describes your career stage? *
Interested in exploring a crypto project, but not sure where to start
Early stages of a new project idea
* Launched

Describe your product in a sentence or two. *
The safest, 0% entry/manage fee crypto index fund, with monthly dividends to make basic income truly universal.

What are you going to make?
* 0% entry/manage, 2% exit fee crypto index fund
* invests in top 10 cryptos with monthly re-balancing
* ALL profits go into a ‘dividend pool’ that pays out 1/4 monthly
* dividend breakout: 3% team, 7% donation, 45% common, 45% shared
* team token: to support operation/marketing
* donation token: must be given to someone else or an org
* common dividend: paid by holding shares (like stock)
* shared dividend: equally divided among all KYC holders

Tell us more about your product. Why do you want to work on this?
Tech has deepen the wealth/income gap in the last 20–30 year, society overall may have gained convenience but not equality or
well-being. It’s a pity if the crypto/blockchain tech will repeat this history. We do believe that an almost automatic wealth creation + redistribution mechanism will eliminate poverty (in different senses) for good!

What’s new about what you’re making? What substitutes do people resort to because it doesn’t exist yet (or they don’t know about it)?

Nothing new about its components (blockchain/index fund/UBI),
but the novelty is in the combination & application.
*: current approach
-: what’s lacking

People wanting passive income:
* real estate, high dividend stocks, index funds for stock markets
- need to invest heavily in knowledge / capital / time

People wanting to see UBI happen:
* lobbying, educating
- likely will take years to decades to move things politically

People who wants to invest in crypto:
* most do trading, few do investment, fewer really understand
- inaccessible to most people (lack of knowledge or trust)

Product URL

Are you currently part-time or full-time on this idea?
Full-Time (40 hours a week)
* Part-time (20 hours a week)

How long have you been working on this?
since Jan. 2018

Tell us more about your progress, e.g. what’s been built, growth, etc.
2018/01 project start
2018/04 alpha launched
2018/05 whitepaper
2018/07 company formed in Taiwan
2018/10 service launched
2019/03 5-crypto re-balancing
2019/06 10-crypto re-balancing
2019/10 1st dividend payment (7.6% RoI for top contributor, 425% for USD $10 contribution)
2019/11 WebSummit’19 alpha startup, start public onboarding with local BNI (business network international) chapter members

Do you have users? How many?

Do you have revenue? How much?
not yet

Have you raised funding?
* No
Yes, <$250K
Yes, $251K-$500K
Yes, $501K-$1M
Yes, >$1M




crypto index fund to make basic income universal

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Shun-Yun Hu

Shun-Yun Hu

Founder of Joint Commonwealth Inc. (JCF), Co-founder of Imonology Inc. Someone who enjoys to observe, to think, and to create…

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