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NEO: the 2019 financial report

As previously announced by the Neo Foundation, the financial report for 2019 was released today. This allows checking, for example, how the funds were managed and what investments were made with the profits.

The report highlights how 2019 was a year full of development and achievements: for instance, the NeoFS file storage was launched.

In addition, 2019 was the third anniversary of the project, and in 2020 the NEO Foundation has set itself the goal of continuing the transition to Neo3, which will integrate several protocols to make the blockchain competitive with the others.

In fact, the report clearly indicates how the team wants to optimize the developers’ experience, creating better tools and a governance system to involve the community in the development of the Neo ecosystem.

“First, we are dedicated to facilitating a smooth transition to Neo3 for dApps, infrastructures, and integrated services. Second, we aim to continue optimizing our developer experience in various ways, including enhancements to our protocol and improvements to development tools. Third, we will develop a forward-looking governance mechanism to incentivize community participation in the decentralization process and ensure the sustainable development of the Neo ecosystem”.

The report also shows the investments made by the Neo Foundation across the various funds: for example, they invested in Travala.

A partnership with the University of Zurich has also recently been announced to promote blockchain solutions throughout Europe, starting with Neo. The agreement also includes a scholarship for deserving students.

As a result, this blockchain is expected to have an interesting year, with the value of its crypto, currently ranked 22nd on CoinMarketCap, being just under $8.

Alfredo de Candia
Alfredo de Candia
Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.