Why NEO is on the Rise as a Top Altcoin

Michael K. Spencer
Nov 19, 2017 · 3 min read

NEO, formerly known as AntShares, is generally known as the “Ethereum of China”, and has a lot of potential.

A smart contract platform has an advantage over a straight altcoin. The way it can scale and sustain its value is different. This is being reflected in the market, as NEO’s Price has surpassed $39.

NEO is china-based and this is important to note given Beijing’s policy to support local firms and shun foreign ones. Chinese will use NEO over any other foreign asset, regardless of its status. When China banned ICOs a lot more BTC trading started taking place in Japan. Now NEO is set to rise.

China’s first open source blockchain is as sure a bet as any, as it’s almost inevitable that it’s going up in value. This is because smart contracts governed by smarter AI on the blockchain represent a new paradigm for many industries.

A smart contract is basically a computer function that can automatically execute the terms of a contract. To variety of instances that this could take place is mind boggling, for smart contracts can help exchange money, property, shares, or anything of value in a transparent way without relying on a middleman, be it a lawyer, a broker or any other third party. Put another way, it’s transaction AI.

“Blockchain technology provides us with a decentralized, tamper-resistant, highly reliable system in which smart contracts are very useful.” Da Hongfei, NEO’s founder.

While still in its infancy, blockchain and smart contracts are likely to be applied to cryptocurrencies, finance, insurance, law, healthcare, the arts, UBI, government and a future iteration of the quantum web. Blockchain isn’t just a ledger technology but with smart contracts could be the playground of a stronger AI.

ICOs out of China is the Future

China has a history of boosting local companies, witness the huge Beijing-based funding for AI that will go into the likes of Tencent, Alibaba, Baidu and others in the next decade. Since NEO is like “China’s public blockchain”, it’s a can’t miss altcoin in terms of increasing value. While China is unlikely to embrace true decentralization in its iterations of state sponsored cryptocurrencies, NEO might be a unique experiment there.

NEO could become the platform to run the most exciting initial coin offerings (ICOs) of the future. Ethereum and NEO are different kinds of fish as Bitcoin and they don’t chase the tails of the mainstream crypto-hype. A smart contract platform can scale very differently and be a B2B utility in an age of AI. This is just the beginning for NEO, and while it has been a pretty strong altcoin over the past few months, and it seems this momentum is far from over.

NEO is on the Rise

China’s full on entry into the smart economy at the right moment, will be huge. NEO of all altcoins and smart contract platforms, has the most to gain when that moment occurs. China is a rising technological power, and when it hits its zenith it will be the leading country in AI and a power-house with blockchain technologies. We can note that in 2017, it already leads in FinTech.

History will show, China’s crypto crackdown can propel NEO into a unique role in the future of blockchain, ICOs and as a leading altcoin.

Correct me if I’m wrong?

Michael K. Spencer

Written by

Blockchain Mark Consultant, tech Futurist, prolific writer. LinkedIn: michaelkspencer