banner
NEO: “how the blockchain will help after the Coronavirus pandemic”
NEO: “how the blockchain will help after the Coronavirus pandemic”
Blockchain

NEO: “how the blockchain will help after the Coronavirus pandemic”

By Amelia Tomasicchio - 16 Apr 2020

Chevron down
Listen this article
download

is the title of today’s speech held by NEO founder Da Hongfei during the BlockDown event which is being held online due to Coronavirus, in augmented reality, today and tomorrow.

Among the many speakers today there’s the founder of the NEO blockchain, who talked about how this technology can help in the recovery after Coronavirus.

"Blockchain in a post-pandemic World"

Live from his office in China, Da explains that the team is currently healthy and everyone has always worked remotely, even from Sydney and Zurich, hence it’s a decentralized team.

The pandemic will certainly bring many social problems, but of course, Da focuses on economic and financial issues by talking about inflation, which will result in trillions of dollars created from nothing within the US economy and so while on the one hand, it helps the population, on the other, it creates the problem of money devaluation.

In this scenario, crypto assets such as BTC or NEO that are mathematically guaranteed and have a limited supply can certainly be considered as an investment in order not to be too impacted by inflation.

Deglobalization is another point where Da focuses as the second cause of the pandemic. 

“The trend of deglobalization is escalating trade wars and ideological clashes are destabilizing the existing order, creating a polarized world”.

Again, Da explains that the blockchain is a solution because it is ideologically neutral in terms of technology and agnostic in terms of jurisdiction and also feeds a global marketplace.

So, if everything could move on the blockchain we would have a global market where everyone could trade without jurisdiction problems and without having to trust anyone. Unfortunately, Da also explains, realistically speaking, that the blockchain is not ready to handle all this and must improve in terms of adoption, interoperability and tokenization such as NFTs which tokenize art, collectables etc…

Furthermore, by tokenization Da also means the birth of securities, which he believes will grow a lot in the next 2-3 years.

About tokenization, the founder of NEO also mentions the birth of the Chinese digital currency, which was shown for the first time with images yesterday.

By interoperability, the NEO founder means that there is a “free flow of assets” able to create a network of blockchains, with frictionless interactions between them and hence a “fluid path” to work easily.

What is the future of NEO?

During his speech, Da also talks about the future of NEO in 2020.

This year, in fact, NEO will launch three new projects: 

  • built-in oracles to easily integrate data not found on blockchain; 
  • Neo FS to share files on blockchain; 
  • NeoID, a tool to protect your privacy.

As far as interoperability is concerned, they are working with teams of other blockchains to recreate BTC, ETH and ONT on other protocols.

Hongfei also mentions closed partnerships with the Switcheo DEX to have a decentralized exchange on NEO; with Liquefy using NeoID for their KYC; and with NeoLine, a project for a wallet that also supports NFTs.

 

Amelia Tomasicchio
Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for Cointelegraph and CMO at Eido. She is now the co-founder and editor-in-chief of The Cryptonomist.

We use cookies to make sure you can have the best experience on our site. If you continue to use this site we will assume that you are happy with it.