NEO is marching forward towards a Smart Economy that will drive its value to the top of the blockchain industry. Many experts have pointed out that NEO holds an unrivaled spot as China’s biggest cryptocurrency project.
NEO is the main reason China is set to reverse its tough stance on cryptocurrencies and ICO projects in the country. Many crypto projects have faced a serious censor-like approach from the Chinese authorities, yet NEO seems to have been left untouched, “secretly encouraged” to claim its position in the cryptocurrency world. Since it’s in the strategic interest of China to have such a strong project in crypto space.
Da Hongfei made his speech at the inaugural DevCon at the end of last month, Hongfei effused ambition and confidence on the future of the NEO project. It was a speech that outlined what the community of developers gathered wanted to hear: NEO was shooting for the moon.
NEO wants to focus on building a Smart Economy where everything was digitized and programmable; transparent and more importantly, an economy that was trustless. In short a new vision for the cryptocurrency.
NEO managed to create a system that drives a world smart economy, it’s simply safe to say that they are going for Zion itself top spot.
How will they do that?
The City of Zion will take NEO past the moon. At the DevCon, Da Hongfei spoke of what he envisioned for NEO. One very clear message was that NEO was destined for greatness as an ecosystem. The main player, according to Hongfei, was the City of Zion. This community of open-source developers and designers is spearheading the development agenda of the NEO blockchain. Already the City of Zion is credited with developing the NEON wallet, NEOScan, NEOMon and NEO portal; all essential in driving project NEO forward.
The crypto’s team has set their eyes on penetrating the friendly Japanese market. Last week (10th-11th Feb 2018) the company hosted two community events in the Japanese cities of Tokyo and Osaka. According to NEO’s official Twitter page, the events featured 03Labs and HashPuppies. One more thing, getting into China confirms experts’ views – NEO is the future.
The other advantage is China is keen to NEO platform, meanwhile, they restricted their citizen’s possibilities to invest in ICOs and cryptocurrencies with great firewall. But they haven’t done so with NEO, this means Chinese investors will start to invest a lot of their money in platforms that are supported by their government. This could be a huge gamechanger for NEO since Chinese investors are one of the largest floats of fresh money in cryptocurrencies. This could mean that NEO could easily reach $1000 USD by the end of the year.
Ethereum and NEO compared to a one-year period as an investment
365 days ago, NEO ( (Antshares) Bittrex) traded for 0.12 USD (closing)
today (13 February 2018) 111.83 USD (closing)
investment in 365 days = 931x
Ethereum was traded 365 days ago for 11.40 USD (closing)
Today ((13 February 2018) Binance )
846.19 Usd (closing)
Investment in 365 days: 74x
Which of these two smart economies has the better technology?
Ethereums ERC20 tokens dominate the market.
NEO’s NEP-5 are still in their early stage. So far, there has just been a handful of Neo based ICO’s like DeepBrain Chain or TheKey BDMI International Foundation Ltd. But Binance announced the listing of NEP-5 tokens in near future, that is a start of a great journey.
NEO ”Ethereum of the Far East” has a potential to surpass Ethereum and even Bitcoin by market cap in the long run, but that doesn’t mean that Bitcoin and Ethereum are doomed, it’s just that East is taking over the West by their efficiency, cheaper labor end ability to adapt to the market like a chameleon.
You should keep an eye on NEO in the coming months.