Hot search keywords

Hot search keywords

Equating NEO With ETH As Platform Goes ‘International’

Going by the recent cases of Chinese government’s involvement in the Blockchain space in China, the ground seems being cleared for less foreign third party player platforms to participate in the sector since – in a way – they may be averse to going by the laid down rules of the country’s regulatory bodies.

After the ICO ban and few exchanges winding down trading activities, the government supported the launch of a “trusted” Blockchain lab which connotes its willingness to be associated with the players involved and the outputs they churn out. It also, in a way,  vouches for the credibility of those invited to the government-led initiative which include NEO co-founder, Da Hongfei.

dahongfei1

Da Hongfei, CEO and Founder of NEO

The lab would particularly be in the interest of China-based projects such as NEO which is reportedly recognized by the Chinese government as the only Blockchain

platform in China with the Ministry of Technology’s license.

Though not completely clear, the initiative could also signify the beginning of a Blockchain alliance that would promote the technology’s shift from being an abstract idea to real life application which – with the government’s interest – would be accompanied by some form of self-regulation and standardization. If this be the case, it would be a huge step from the widely-known use of most blockchain projects’ tokens for trading purposes.

Plus for NEO
While this move may seem to show China’s involvement, it may not really harm NEO’s recent redirected marketing focus of being an ‘international’ project and not necessarily the ‘Chinese Ethereum.’ NEO’s upward trend in popularity and use suffered a setback following the uncertainty that spread after the Chinese government’s ban on ICO-related activities in the country. A key issue that came up at the time was the project’s being hyped mainly as meant for the Chinese – or as “China’s Ethereum.”

The spread notion could be seen as hurtful to NEO’s effort at gaining market share at some point. However, with the permeating sense of alliance with the government, it could mean a sane environment is being created for NEO to compete favourably with the likes of Ethereum. Its compliance with standardization efforts could help develop its proposed smart economy-based platform that will comprise the combination of digital identity, digital assets as well as smart contracts.

Its working with the government should not come as a surprise especially going by the fact that it has reportedly approached the Chinese Government and PBoC – while still at the development phase as Antshares – to inform of its plan and eventually launched the platform  from inside one of government buildings.

What’s Next
It is imperative to state that NEO’s interaction with the government today could mean something bigger soon. Whatever it would be, it is certain that NEO is positioning to take over China, become a real competitor to its perceived global rival, Ethereum, as it capitalizes on the Chinese market background and being listed on more exchanges – especially the top three – to increase its market base with more pairs than just ETH and BTC.

NEO’s ability to come up with a few use cases in the next couple months will serve to make the platform gain its trend and rise above previous market heights – among the top five with the largest market capitalization on CoinMarketCap.

COMMENTS(30)

  • neonerd1
    4 weeks ago neonerd1

    This is absolutely phenomenol news. Even if this only partly plays out ….. top 3 here we come !!!

  • YungFambruhgini
    4 weeks ago YungFambruhgini

    This article is pure speculation. It’s like every second word is “could”. I’m rooting for neo but man..

  • Fitzgerrald
    4 weeks ago Fitzgerrald

    “China’s Ethereum”
    Phrase is gettin’ old.

  • Badeindi
    4 weeks ago Badeindi

    I cannot hear the phrase NEO the ETH of the east. This is a different project!

  • darkvador1900
    4 weeks ago darkvador1900

    too much ifs and coulds.. however ill hodl for i know neo has a long way to go

  • Fitzgerrald
    4 weeks ago Fitzgerrald

    I like a world that’s got both of ’em thriving.

  • CriticalStrike87
    4 weeks ago CriticalStrike87

    Of course, I agree. Still think they need to ditch the motto.

  • TerminusEst00
    4 weeks ago TerminusEst00

    AFAIK, NEO team isn’t the one who coined Chinese Ethereum. They have nothing to do with that motto.

  • CriticalStrike87
    4 weeks ago CriticalStrike87

    Oh wow you’re right… I remember reading that’s how they dubbed themselves but I guess it was everyone else who did that. Well that’s good

  • Fitzgerrald
    4 weeks ago Fitzgerrald

    It seems like something that could have originated as copy that a marketing firm pooped out, but the devs seem pretty united in despising it.

  • TerminusEst00
    4 weeks ago TerminusEst00

    I think some journalist of twitter personality or someone like that used it, and it’s been a shitty nickname that’s stuck ever since.

  • Fitzgerrald
    4 weeks ago Fitzgerrald

    It’s so bad that’s kinda admirable. It manages to call it a knockoff of another chain and load it full of China FUD in three words. Very efficient shittiness.

  • ardieD2
    4 weeks ago ardieD2

    welcome to crypto

  • Chowdahhhh
    4 weeks ago Chowdahhhh

    Why do you believe NEO will surpass ETH?

  • minminminmin
    4 weeks ago minminminmin

    There’s a strange abundance of you people in this community.

  • CriticalStrike87
    4 weeks ago CriticalStrike87

    The fact that hackers we’re able to steal $32,000,000 worth of Etherium through exploiting vulnerabilities. That’s a permanent scar for Etherium.

  • Chowdahhhh
    4 weeks ago Chowdahhhh

    It was proved that the vulnerabilities were due to poor implementation by Parity wallet tho. It had nothing to do with the Ethereum platform itself. Do you think NEO will be invulnerable to exploitation?

  • CriticalStrike87
    4 weeks ago CriticalStrike87

    And that’s the last time I answer any of your questions ✌️

  • Chowdahhhh
    4 weeks ago Chowdahhhh

    LOL ok. Not doing any favours for the fanboy reputation there, buddy.

  • CriticalStrike87
    4 weeks ago CriticalStrike87

    Look who’s talking

  • Chowdahhhh
    4 weeks ago Chowdahhhh

    I think my question was pretty innocent. I was just wondering why you think NEO is going to be much better than Ethereum, but you didn’t explain; you only brought up something in the past that has since been fixed

  • max3pin
    4 weeks ago max3pin

    So is “China’s first blockchain”

  • friedricekid
    4 weeks ago friedricekid

    Chinereum

  • Fitzgerrald
    4 weeks ago Fitzgerrald

    Ew, yes, absolutely. I’m 100% okay with not attaching “China” at all.

  • 3nraged
    4 weeks ago 3nraged

    It was probably White people. They give nicknames to everyone.

  • 3nraged
    4 weeks ago 3nraged

    I doubt it will surpass ETH.
    Just look at what has happened with a few of Chinas words.
    It needs to be relatively independent of China to be honest.
    And i dont think that will ever happen.

  • Dopesack
    4 weeks ago Dopesack

    He wasn’t referring to the parity wallet exploit, he was referring to the DAO exploit.

    Most people who believe NEO will do better than eth are those that believe in a need for centralization. That’s NEO’s advantage, depending on how you view it. NEO doesn’t need to reshape our economy, it just needs to make it digital.

  • Biocyte
    4 weeks ago Biocyte

    Say it with me: Ethereum

  • CriticalStrike87
    4 weeks ago CriticalStrike87

    Yeah seriously Neo needs to drop the whole “Chinese Ethereum” nickname. Neo is going to be much better than Ethereum.

  • CriticalStrike87
    4 weeks ago CriticalStrike87

    Ethe®eum

Please sign in first