AlphaNu’s is comprised of team members from a diverse background including hedge funds, blockchain, quant finance, IT, and cryptography. But we also have an assorted team of advisors from various backgrounds. Over the next week, we will be highlighting our advisors and their backgrounds. This Advisors Series allows us to introduce our advisors’ backgrounds so you may have a deeper understanding of AlphaNu.
The first advisor we like to introduce in our series is Allen Sung, Vice Chairman of Allis Electric Co., LTD. Allen is one of the prominent advisors for AlphaNu. He has an exciting background and is currently the Deputy Chairman of Allis Electric in Taiwan. Allis is always on the lookout for new technologies and is heavily researching into the use of blockchain technology and fintech to design smart grids of the future.
1. Tell us about your background.
I was born in Taiwan but did my education the United States of America. I worked in Japan for several years before I returned to Taiwan. I am presently the Vice Chairman of Allis Electric Co., LTD, an industrial electrical power supply company based in Taiwan. It has been listed on the Taiwan Stock Exchange since 1994 and have recorded a profit for 49 out of 50 years of operation. I also serve on the board of several related companies and as an independent board member for a Taiwan OTC listed company.
2. How do you feel about blockchain’s future development?
I believe that blockchain acts as one of the most effective tools to establish trust and connect two parties without an intermediary, especially for contractual or value transfer. Its potential in this regard is limitless; there are hundreds of use cases for it in the financial world and in any situation requiring disintermediation of trust.
3. Can you see any potential impacts that blockchain will have on your industry?
With respect to AlphaNu, I believe that their vision of enabling access to algorithms for everyone is very similar to the key tenets of blockchain technologies; although the initial version will still be run in a centralised manner, as the technology for blockchain ages and becomes more reliable and stable, it will become possible to operate decentralised marketplaces that reward value creation.
In my main industry (the electrical and power industry), blockchain actually creates huge potential to be integrated into existing efforts to disintermediate the power grid. At the moment, a lot of research is being placed into the future of micro grids, a decentralised format of allowing electricity users to invest in and generate their own power (such as through renewable means) or even sell power back into an open grid as compared to having to purchase power from a provider. These micro grids are extremely complex to set up at an infrastructural level, and blockchain is expected to handle the transactional requirements of verifying electricity transfer and payment in a multi-party situation (where an entity/user can switch from being a provider to a consumer at will).
4. How did you first meet Alphanu team?
I have been a close friend of one of the founders, Paul Hsu, who I met through our shared interest in surfing. This was all the way back in the 1990’s! I have come to trust and respect the efforts of the rest of the team through interaction and believe that if there is a company with the experience, expertise and understanding to deal with the complexities of growing an algorithm marketplace, it would be Paul and the AlphaNu team. Therefore, I have agreed to be an advisor and provide strategic connections as well as my network for their benefit.
5. What motivated you to become an advisor?
Having been very interested in the possibilities of how blockchain can be applied, I was very curious to see how it could be used in the manner that Paul approached me with — a marketplace is one of the most complex ecosystems to operate and being able to introduce blockchain elements to increase the level of trust and disintermediation in the industry is an excellent idea. Furthermore, as my own company is traded on the Taiwan Stock Exchange, I strongly resonate with the value proposition that the AlphaNu team is offering to the algorithm trading industry and believe that their business model is one of the few that would be accepted by governments all across the world as a feasible approach to supporting automated trading.
6. How do you think AlphaNu will create change?
The AlphaNu team will be able to provide the average investor with all the complex tools of quantitative analysis and big data analysis that was previously only available to large funds or brokerage houses. With their model in place, every investor and trader will not only be able to maximize their investments, but do so in a safe way that allows them to get a good night’s rest. At the same time, the knowledge powerhouses who are developers of algorithms and AI for Fintech are able to explore new geographical markets that were previously closed off to them without the intervention of the AlphaNu team.