AlchemyCoin — Respect your elders

“Respect your elders” is an Asian philosophy going back centuries.

Alchemy Coin felt enormous pride when a handful of local Taipei business executives with decades of experience came to our office last week for a primer on blockchain and cryptocurrencies.

Alchemy Coin Chief Operating Officer James Fan led the discussions and delved into much detail about the peer-to-peer lending platform we are now in the process of building.

Working with our team of veteran Wall St. bankers, James Fan is leading a team of engineers in Taiwan through the arduous — but exciting — process of coding the design of the platform.

In 1962, Taiwan had a nominal per-capita GNP of $170, placing its economy on par with the Democratic Republic of the Congo.

Today Taiwan has a dynamic, capitalist, export-driven economy with gradually decreasing state involvement in investment and foreign trade. In keeping with this trend, some large government-owned banks, and industrial firms are being privatized. Real growth in GDP has averaged about 8% during the past three decades. The trade surplus is substantial, and foreign reserves are the world’s 5th largest.

The stunning economic turnaround in Taiwan is a testament to men like these who graced Alchemy Coin with their esteemed presence.