What is NEO?
NEO is a Chinese-developed Blockchain platform for developing Blockchain applications. NEO is similar to Ethereum and was formally known as AntShares.
Following the Chinese crackdown on ICOs, NEO has restricted its activities and growth, awaiting when the Chinese governments finishes setting up its regulatory framework so it can resume full operations.
Why could NEO dominate the world?
Government recognition and support
As we have already said above, China is only re-organizing itself to able to regulated cryptocurrency so it can resume trading.
Regulations will mean that every cryptocurrency traded in China will have too be government approved. No other cryptocurrency(aside Bitcoins) will impress the Chinese government than their very own NEO.
The Chinese government will find it easier to deal with a native enterprise than one from Russia.
As we have already seen, NEO is not s cryptocurrency but a Blockchain application platform just like Ethereum. This will mean that it could become the hotspot for the creation of licensed and regulated ICOs in China.
China is perfect for cryptocurrency
China has everything NEO will need to be successful:
- Strong cryptocurrency developers - China's performance in the Bitcoin economy proves it has enough skilled human resource in cryptocurrency.
- Cryptocurrency literate population - the Chinese people do not need introduction to cryptocurrency.
- Mining resources - China alone provides upto 70% of all Bitcoins' mining power.
- Native support - NEO is a native Chinese venture and will not struggle to get acceptance among the Chinese community.
- Economic wealth - China is not just a developed economy. They are the world's factory and produce everything used in the world. China has got lots of money.
NEO could be superior to Ethereum and EOS
NEO is designed to be a smart economic network by integrating;
- user identity systems
- digital asset management
- digital signatures
- smart contracts
- cross chain interoperability protocols
- quantum-resistant cryptography
- distributed storage protocol
- secure communication protocol
Even now, NEO is already the 10th largest cryptocurreny according to Coin Market Cap. The fate of EOS and Ethereum hangs in the balance until NEO returns.
What do you think?