Who Is Youssof Altoukhi ? The 16-Year-Old Entrepreneur
Youssof Altoukhi is the Chief Executive Officer at Y Coin. Youssof grew up in London, U.K., and given his young age has had a surprising number of encounters with entrepreneurship.
His first foray into business involved selling products to his friends in school. He received a 3-D printer as a gift when he was in primary school and had learned how to create custom products. He decided he would create custom phone cases for friends and whilst there were some errors he eventually created a case that people would buy. He then set up a basic website that people could order through. There were not many orders but it proved to be a valuable experience in the world of online business.
His next business idea was in an area he had an authentic interest in which was reselling sneakers and limited edition clothing. He set up an Instagram as well as a website and bought some sneakers. However, demand was limited and there was a significant amount of fraud in the space. Additionally, tying up money on inventory and the risks associated with that was something Youssof learned. He opted to push marketing through working with influencers. However, a turning point came for the business when he advertised the business on Google Maps which none of his competitors were doing at the time as they were focused on other social media platforms. The name of the business was called ‘Little Kicks’ so when people typed in ‘kicks’ or ‘where to buy kicks’ the brand would come up at the top of search results. Once he added the store they got an immediate spike in traffic which subsequently led to sales. He ran this business for just over a year before realizing that the logistics, warehousing, and physical side of the business alongside school and other commitments was too much.according to Forbes
Youssof Altoukhi And Y Coin
Youssof Altoukhi recruited a team and developed Y Coin ($YCO) which is a transfer and payment coin using a democratic governance model. It will be a community coin where everyone has equal say regardless of how much they own. This model will not favor the rich and will make it less likely for ‘whale’ behavior to occur. The application ‘Y Hub’ will be launched on iOS, Android, and Desktop at the end of September 2021. In addition to democratic governance, there will be free transfers with no fees to users who send transactions via the application. They intend to utilize simpler wallet addresses where you can reference people’s usernames, removing the clunkiness associated with many apps, and the community will also be able to earn extra Y Coin by watching advertisements on the app. Ultimately the objective is not only to create another coin but a community where people can have a seamless experience and are incentivized to continuously engage with the platform.
It’s a very ambitious project for someone so young but Youssof Altoukhi is passionate about making change, entrepreneurship, and the ability of crypto to change the world if done correctly.