The Blockchain Career Fair is taking place today in San Francisco as countries even in the Sub Sahara continue to embrace the blockchain technology. One of the big cryptocurrencies that are represented in the event is NEO (NEO); Malcolm Lerider, NEO’s Senior R & D manager will be answering questions in NEO’s interest. This is a good opportunity for the world of cryptocurrency and blockchain to compare notes as both mature to solve issues within the fin-tech arena.
In a recent interview the founder of NEO, Da Hong-fei agreed that NEO is quite similar to Ethereum hence its popular nickname “China’s Ethereum”. However, he noted that there are a few differences between the two altcoins. NEO is focused on compliance with the Chinese crypto regulations which currently are among the strictest while Ethereum maintains a fully decentralized platform with oversight from the smart contracts. Da believes that NEO has an upper hand when it complies since the utility token is adopted by more businesses or individuals in China. This is pretty good in terms of scaling the market demand together with the NEO platform;
“One of the biggest differences [between NEO and Ethereum] is NEO’s focus on using blockchain and other new technologies to serve the real economy.”
Da seems to share the same sentiments with the SEC that crackdowns will be good for the future of cryptocurrencies. As it stands NEO has largely benefited from the crackdown in China leaving them at a very strong position in the Asian market although Japan’s Cardano (ADA) has been quite competitive.
OnChain is a major partnership that will set the bull loose for NEO (NEO) in the near future. This China based company is popular for developing private and public blockchain platforms for businesses in the largely crypto dominated country. The partnership between NEO and OnChain was born from a common ground on their long term goals and as a result NEO has become popular in the Chinese crypto market. OnChain works with the Chinese government which reduces the risk that NEO will fail as a result of regulation laws.
NEO Market Overview
The world of digital currencies is so far the least understood especially in terms of price movements. However, this should not be a surprise to any crypto enthusiasts given that an altcoin like NEO has only been in existence for 19 months but is currently at a market cap of $4.6 billion. NEO which once recorded an all-time high of $196 has since declined by more than 100% to trade at $72 right now. NEO’s founder is not shaken by these strong bull and bears in the past year; this is what he had to say,
“It reminds me of the similar correction in 2013, when bitcoin had soared to hit 8,000 yuan before seeing a correction to its low at around 900 yuan […] even with the massive collapse, everyone [in the sector] still continued to pay a lot of attention to cryptocurrency technology.”
Since its ICO, NEO (NEO) has been on an exponential growth trend with a total ROI of 39000% so far while it has recorded a maximum growth of 115% on its best day. The altcoin is traded in a couple of coin exchanges with Binance at the lead; most users on the platform exchange NEO for BTC or USDT. Its volatility remains at par with its peers having recorded 40% volatility in the past month.