‘DNotes Will Be Known as the Currency with a Purpose’

After a life-long fascination with how computing power can be used to solve problems, Alan Yong, founder of DNotes, wanted to add a human element to cryptocurrency.

“DNotes must be built as a digital currency for everyone, irrespective of financial standing — from the poor to the super rich; from the unborn to the most senior. It must deliberately attempt to include and assist women to help close the gender gap.”

— Alan Yong

After being introduced to cryptocurrencies in 2013, and conducting some serious research, Yong went on to found three cryptocurrency-based organizations:

  • The Cryptocurrency Investment Savings Plan (CRISP) — A student-centric, self-directed investment plan that utilizes DNotesVault to release 100 DNotes to willing participants, without requiring them to pay for it. The first 200 accounts to register will be awarded 100 DNotes, plus 10 DNotes each month thereafter, until the account reaches 500
  • CryptoMoms — A dedicated mission to increase women's participation in cryptocurrency
  • DNotes — An altcoin with a holistic aim

In 1989, Yong founded Dauphin Technology, Inc. and quickly became a well-regarded visionary in the early days of mobile computers. In 1992, his company became the Pentagon's largest supplier of laptop computers after winning a US$395 million contract. The Dauphin DTR, a handheld computer that competed head-on with the Apple Newton, was among their best-known products.

Cointelegraph spoke with Yong to learn more about his most recent projects.

Cointelegraph: What about bitcoin influenced you to create DNotes?

Alan Yong: I feel that the concept of verifiable public ledger for every transaction using ingenious consensus technologies will have world-changing implications, leading to a quantum shift in how we conduct global business, resulting in a large-scale disruption of existing systems, especially in the financial services industry.

“No one has sufficient self-interest to promote and protect Bitcoin, with an over-emphasis that it is a trustless system. [...] How could I hand over my life savings, if no one could be held responsible or would stand by it to give me the confidence that it is in good hands?”

In addition to business, I also have a background in behavioral science and it did not take me long to conclude that the industry has already developed a culture of its own. It is a culture of self-destruction, high stress, and blatant disrespect for other’s properties and human emotion. I had never seen any business that had a chance of survival in that kind of hostile environment. No wonder the male population has dominated it by a ratio of 95 to 5, male to female.

I made one other observation. No one has sufficient self-interest to promote and protect Bitcoin, with an over-emphasis that it is a trustless system. I thought, what is trustless is the transaction between two parties, where it does not require a trusted intermediary.

My goodness, how could I hand over my life savings, if no one could be held responsible or would stand by it to give me the confidence that it is in good hands? To me, it is hard-earned money no matter what you call it; commodity, property, or virtual currency of no intrinsic value. These I believe are the serious problems confronting our industry, keeping it from gaining traction towards mainstream acceptance.

DNotes decided since day one that, to be successful, it must create a new culture. That new culture must be built with trust and integrity, promoting mutual respect and cooperation, collaborating in a highly productive environment, focusing on the accomplishment of long-term mutual benefits.

Starting with a shared-stake concept, DNotes must be built as a digital currency for everyone, irrespective of financial standing — from the poor to the super rich; from the unborn to the most senior. It must deliberately attempt to include and assist women to help close the gender gap.

CT: How is cryptocurrency as a platform helping to solve the student debt crisis? What benefits has it posed over fiat?

AY: Coming from a very poor family, I am passionate about using education as the most effective tool to help others move up the social economic ladder. It bothers me a great deal to take notice of students’ increasing debt burden.

As a society, instead of giving graduating students a head star