What is NEO
Neo, formerly known as Antshares until a re-branding in June 2017 is the first open source public blockchain developed in China. They had the first phase of their ICO back in 2015 and the second phase in late 2016, in total raising over 8000 Bitcoin and securing a partnership with Microsoft.
Dr Hongfei, the creator of Antshares, now NEO, is also the CEO if Onchain; which is an open source international blockchain which effectively allows different blockchains’ to interact with each other whether they are public, private or consortium.
NEO serves as a smart asset platform, which is defined as a combination of smart contracts and digital assets, Using the blockchain technology they digitize a variety of real-world assets and allow for peer to peer trading this removes the need for a trsuted 3rd party, as well as making trades traceable and highly transparent.
The NEO company are working closely with a number of different partners whilst aiming to become the biggest cryptocurrency based in China. They have been known as ‘the Chinese Ethereum’. NEO has hit a few stumbling blocks along the way. Most noteworthy was in the 3rd quarter or 2017 when the Chiniese government banned all ICO’s as well ordering that all cryptocurrency exchanges were to close.
If you had invested in the original ICO ‘Antshares’ you would have made a significant return at the current price, this is an example of when an ICO works out.
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