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NEO—China's Ethereum—is building a smart economy on blockchain - e27

Published 1 year ago

NEO—China's Ethereum—is building a smart economy on blockchain - e27

e27 via e27.co

NEO—China’s Ethereum—is building a smart economy on blockchain was written by Masha Borak for Technode. Much like Ethereum, NEO uses a general purpose blockchain and runs smart contracts on it. Also Read: Bitcoin in Singapore: New Bitcoin kiosk launched, CoinHako’s Singapore bank account shuts down “Blockchain technology provides us with a decentralized, tamper-resistant, highly reliable system in which smart contracts are very useful,” NEO’s founder Da Hongfei told TechNode. Platforms such as NEO help developers create blockchain solutions using smart contracts and create applications that are specific to a certain business. One of the projects using NEO’s platform is Red Pulse, a blockchain-based research platform covering China’s financial markets. “Compliance is inevitable after the blockchain industry matures to a certain stage,” said Da, adding that NEO has offered a full refund for its ICO participants and that government oversight will contribute to sustainable development of financial technologies. But it also seems that unlike many Chinese crypto currency offerings, which border on speculation or outright fraud, NEO has been developing actual products based on the blockchain. “NEO is the use of blockchain technology and digital identity to digitize assets, the use of smart contracts for digital assets to be self-managed, to achieve ‘Smart Economy’ with a distributed network,” said Da. Coin spectator is an automated news aggregation service. All copyrights belong to their respective owners. Images and text owned by copyright holders are used in reference to and promotion of those respective parties. Read in Full

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