The founder of NEO, Da Hongfei, is now forecasting a post-pandemic blockchain boom and rise of his cryptocurrency NEO, which is regularly titled as the “Chinese Ethereum.” As the founder of the China-headquartered crypto project says, everyone is going to capitalize on this boom.
For those of you who don’t follow our altcoin news, NEO is basically a blockchain platform for distributed apps. Hongfei spoke about NEO in detail on the virtual BlockDown 2020 conference, describing it as a progressive and innovative project.
The coronavirus pandemic, or rather the blockchain technology after this pandemic, will get a boost according to the founder of NEO. He stated that once the outbreak is behind us, the world will be a fundamentally different place – divided and ruled by mistrust towards the traditional systems.
It will also see deglobalization and inevitable setbacks – but the antidote to those setbacks, as the founder said, is blockchain. As a matter of fact, this COVID-19 pandemic will boost the blockchain adoption, as Da Hongfei stated.
According to the founder of NEO, the blockchain tech is a “remedy” for the post-pandemic new set of rules because it is:
- Neutral to any ideology.
- Agnostic to any jurisdiction (assets on blockchain are managed by smart contracts but it is not directly affected by the jurisdiction of the entity behind this smart contract).
- Has a potential to become a global marketplace (if we put all assets on blockchain, we will have a huge and global market where everybody can trade with each other and without a need to trust each other).
However, Da Hongfei also noted that the blockchain as it is today is not ready for this massive task, stressing that the technology needs to improve the following:
- Interoperability – Blockchain needs it and must develop a universal, general purpose cross-chain protocol
- Tokenization – The founder of NEO said that there is a need to tokenize many things.
- Adoptability – Different design choices need to be made in the future.
As Hongfei said, “may the fittest blockchain survive.
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Meanwhile, the price of the NEO token in the NEO news today is positive, as the coin surged by 2% to arrive at its new price of $7.79 and the 23rd position on the market cap.
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