Hsuan-Ting Chu of DINNGO on Security, UX and Aliens
DINNGO is one of many small businesses in the crypto-sphere which hopes to eke out a name for itself amongst the sea of ICOs, start-ups, and blockchain projects in 2018.
Its team collectively possesses experience from traditional banking giants Deloitte and Citi Bank and furthermore, the project has a technically robust architecture and an exciting-yet-achievable product roadmap.
Hsuan-Ting and DINNGO
We are talking to Hsuan-Ting Chu: Chief Executive Officer and founder of Australia-based company DINNGO, a decentralized digital-currency exchange that operates primarily on mobile devices.
Whilst at SITA, Chu worked for a wide portfolio of clients – one of which being the National Aeronautics and Space Administration (also known as NASA). There, he was given the opportunity to make use of the agency’s proprietary distributed computing network to, of all things, “find aliens”.
This was long before Bitcoin had started to become a household brand, at a time when distributed computing networks were limited to hardcore enthusiasts, illicit botnet operators, and blue-chip / government R&D.
He is also a serial-entrepreneur who has been mining Bitcoin since the early days of crypto.
Hsuan-Ting Chu opted to use more conventional means to source his relatively terrestrial executive team.
“She’s pretty energetic, really interesting and very passionate about refactoring the financial system… She was going to transfer from Citibank Taiwan to C-SPAN Europe (the headquarters) which is a very good promotion, but she gave it up for the opportunity to work with us… She said she wanted to start something new, to rebuild a system from the ground up.”
Ho, in common with her fellow executive team members, is equipped with strong experience from traditional finance and other industries. The rest of the team has a combination of personal and professional history.
Ben Huang for example, the company’s Chief Blockchain Officer, is a friend of Senior Software Engineer ML Chen. And Chief Financial Officer Johnny Chuang was Chu’s “high school classmate” –possessing prior experience at institutions such as Deloitte and Boston Consulting Group, as well as a Master qualification from Columbia University.
“I’ve known him for a very long time. I know he’s very good at math and science, and he’s very good at using different spectrums of thinking for many kinds of things. I trust him to take care of our money.”
Speed, security and transparency are three of the most common buzzwords used to describe blockchain solutions, as well as the benefits of the technology itself. These sentiments are echoed in both the website and marketing of DINNGO as well as the words of Hsuan-Ting Chu.
“Security is the most important thing about cryptocurrency exchange or a bank. Most of the exchanges right now… [make] it too difficult. When you want to do a transaction, they will send you an email which requires you to click a link which then drags you to their website; where you are was any email and you. You click the email link and then they will drag you to their Web site ask you to enter 2FA.”
Conversely, DINNGO’s user experience is centralized on the mobile phone itself.
Chu describes how modern smartphone interfaces from the likes of operating system developers and manufacturers such as Google and Apple have greatly increased technological accessibility for a greater number of people.
Those who had not been catered too previously, such as the very young and elderly have since become users and consumers of computer technology due to their ease-of-use.
How it Works
One of the key features presented by the company’s marketing team is the claim that DINNGO will mark the “first hybrid exchange implementing in-depth integration with cold wallet service” with an “optimisation of asset allocation due to smart transaction matching mechanism” – along with a ‘customisable interface’.
There is an internal eco-system surrounding a proprietary cryptocurrency called the ‘DGO token’ which acts as an intermediary trading asset with the promise of benefits such as a 50% trading fee discount, numerous airdrop campaigns promised, and the promise of access to “premium customer support and trading functions” (what that means is not explained however).
The team launched a successful crowdfunded smart contract development and implementation which has been fully audited and deployed to the Ethereum network. You can also find out more about the technical inner-workings of the system in their public whitepaper.
Featured image courtesy of Shutterstock.