The NEO Global Development (NGD) and the Incognito Chain participated in the NGD English Neo Live AMA Event on Thursday, February 20. This event was the first Live event where the hour-long conversation was recorded in a video format.
The marketing manager, Songping Que, as well as the NGD eco growth manager Sarah Song along with the head of growth at Incognito Chain, Andrey Bugaevski, participated in the event. The NEO blockchain news gave a unique perspective on privacy and decentralized finance (DeFi), how incognito works and the next steps for incognito integration with Neo as well as other questions from the community.
The NEO live AMA event started with an introduction from the NGD team where Song iterated the NEO efforts in integrating data privacy into its blockchain. Knowing that a blockchain is an open ledger, data can only be tracked by third parties which may negatively impact the willingness to store documents such as an individual’s finances or business statements. In order to remedy the issue, NGD partnered with Incognito Chain, building privacy based solutions for the NEO blockchain.
Bugaevski also cited one article in the NEO live AMA event – an article which exposed 133,000 unique names registered through the Ethereum Name Service. The authors followed trails of transactions and deduced total digital asset holdings in other wallets, business deals and events that people may attend in the future.
One of NGD’s primary goals for the future, as the cryptocurrency news showed, is to build infrastructure and support DeFI projects, encouraging them to build on top of NEO. In 2020, the company intends to offer a variety of features which are necessary for DeFi services such as credit and lending, custodial and non-custodial exchanges, payments as well as liquidity providers.
“Privacy is really important, [though] the underlying infrastructure will remain the same. But, Neo will use tools to implement privacy-protecting protocols (e.g., MimbleWimble, ring signature protocols, etc.),” Song stated.
More specifically, in the NEO live AMA event she said that the cryptocurrency project intends to integrate second layer scalability and privacy solutions.
“We want to have tools so that smart contracts can have privacy features; especially so inputs, outputs, and executing the smart contract can be shielded,” she concluded.
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