The founder of the altcoin NEO is in the latest cryptocurrency news. Da Hongfei, which is actually the founder of Antshares (best known as NEO), has recently stated that blockchains and cryptocurrencies are over-regulated in the extreme.
His quote was taken from an interview with 8BTC in which he stated:
“In essence, blockchain can barely survive within the existing financial regulation system. A licensed institute may find it unnecessary to cooperate with a blockchain company because it is already licensed to conduct the business. Why would it bother to be engaged in a partnership that doesn’t benefit it that much? If blockchain companies end up with no license, they won’t be legally permitted to promote massive adoption of applications.”
However, what Hongfei should know is the fact that NEO, along with several other blockchain ICO-funded projects, offered refunds to buyers in order to comply with the Chinese regulation efforts towards ICOs. One of the affected ICOs was actually a token that lives on NEO’s blockchain – the Red Pulse (PHX). With a market cap of $22 million, Red Pulse is decent while the altcoin NEO has been in a depression for some time now, resting under the $20 mark at present rates.
The founder of NEO also commented on the rise of blockchains and how they are used in gaming, noting that a NEO-based company called NewEconoLabs had officially sponsored a blockchain game. As he said, he is optimistic about the future of blockchain:
“In the future, blockchain games may present a virtual world similar to that constructed in the sci-fi film “Ready Player One” where all the virtual assets are recorded on the blockchain, the implementation of which requires a flawless economic model. However, we can’t predict the timing of such games. I hope that someday blockchain games can even be played by my daughter.”
When asked about the decentralization of NEO, Hongfei said:
“The majority of votes come from exchanges and our team so far, which gives the NEO team more say on the matter. The team will delegate the voting power to the public in the future and by that time, the team will have a less dominant influence on the voting results.”
And while there are a number of public blockchains besides NEO and Ethereum, Hongfei believes that most of them don’t have enough interesting applications on them.
“There are many public chains, but we are running short of upper-layer application and developers. It’s like you have developed an operating system but there are no apps running on it, without which the operating system is same as dead. Yes, we do feel some sort of threat. Facing the competition from our peers, NEO reacts by exploring how to develop an ease-of-use and developer-friendly public chain. For example, we think docs and tutorials are important as they can quickly teach a developer to develop smart contracts on NEO,” he concluded.
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"The illegal fundraise accusation is wrong. Tron complied with regulators and refunded investors on Sept. 20 in 2017, immediately after the order [of a ban on initial coin offerings] from seven ministries in China," he said (translated).The Tron price tumbles as we speak, again proving that everything can affect the price of crypto and again showing volatility just like the other coins in the latest cryptocurrency news. Currently, TRX sits at $0.024 with a 16% loss on the day.
Five Cannabis Infused Cryptocurrencies To Invest In This Year
DopeCoin Gold (DOPE)DopeCoin Gold has been featured in the coming altcoin news many times - as a blockchain and cryptocurrency which aims to 'provide marijuana enthusiasts with a modern and secure way of doing business for the 21st century’. Created on Bitcointalk, DopeCoin Gold (DOPE) was first launched in early 2014. The creator of this altcoin also founded CryptoBillings which is a payment processing application for vendors interested in accepting crypto. You can purchase DopeCoin Gold as one of the five cannabis infused cryptocurrencies on markets such as Bittrex.
HempCoin (THC)HempCoin launched in 2014 and just like DopeCoin, aims at revolutionizing the cannabis industry by providing a trusted network currency. As the website behind this project notes: “HempCoin is on a mission to achieve mass adoption in the agriculture sector by offering solutions that tackle the issues plaguing cross-border transactions. We aim to offer solutions for the lack of banking and payment services for industrial hemp and legal cannabis businesses.” You can buy HempCoin (THC) on Bittrex.
PotCoin (POT)PotCoin also launched in 2014 and quickly made a name for itself - becoming one of the frontrunners in the cannabis crypto industry. This is why it is in our list of five cannabis cryptocurrencies to watch out for. From its website: “PotCoin provides an underserved legal cannabis industry with a decentralized infrastructure and payment solution. Using PotCoins, industry participants can realize significant cost savings, scalability, and unparalleled enterprise security.” PotCoin can be used to buy weed paraphernalia in different online headshops. The website also advertises a unique Shopify store. Staking rewards are also present on the POT blockchain.
CannabisCoin (CANN)CannabisCoin (CANN) deserves to be in the five cannabis infused cryptocurrencies to watch out for. Even though it was originally planned to produce its own medical-grade marijuana products (priced at 1 gram of weed at 1 CANN coin) the cryptocurrency was also self-titled as 'The Marijuana Bitcoin'.
Paragon (PRG)Paragon is also featured in our altcoin news as one of the five cannabis cryptocurrencies. It launched in 2017 with a main goal of: “…building the next generation of seed-to-sale tracking software based on blockchain, while offering cannabis entrepreneurs a high tech co-working environment.” However, its plans got derailed when the SEC came down hard on the project for violating the rules regarding the issuance of security tokens. The CEO of Paragon, Jessica VerSteeg, is a former Miss Iowa winner. She was in the news for framing the SEC ruling as a positive for Paragon at the time, stating: “Paragon is proud that the PRG token is included in today’s action by the SEC and are thereby being granted the opportunity to avail itself of this groundbreaking path forward while continuing to pioneer efforts and to participate in the ever evolving ICO marketplace.”
Tim Draper Believes Crypto And Libra Are Bridges To A Bitcoin World
“I think all these other cryptos are bridges to where we have a Bitcoin environment,” he said.Appearing in the unique trademark Bitcoin tie, Tim Draper believes that US regulators were too heavy-handed dealing with innovations like Bitcoin, blockchain and related fields - which is what he told CNBC. He did not say anything about other altcoins which might have been featured in our altcoin news section. When it comes to Libra, he said that there was no need to demand regulatory assurances before the product had even launched.
“We’re putting regulation before the innovation — Facebook’s just announced Libra; they haven’t even been able to ship it yet, and the regulators are all over them,” he continued.Currently, many best cryptocurrency news sites explore the link between Libra and Bitcoin. At press time, Bitcoin looks stable and is trading more predictably after a turbulent week which saw a lot of price swings as the Congress debated a cryptocurrency policy. Tim Draper believes that there is lack of Bitcoin support against government. He is in a lot of interviews recently, talking about being a Bitcoin bull, his investments in the crypto space as well as his outlook on the future of the crypto space.
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