The Crypto Times
Image default
Blockchain News

NEO Rumored to be China’s Crypto

Following the Chinese government’s ban of ICOs and Bitcoin exchanges throughout the country, many crypto enthusiasts were left wondering – what is China’s next play in the blockchain space? It would not make sense for China to sit this one out considering blockchain has the potential to turn various well established industries on their heads.

China’s Crypto

The Chinese government has a track record of controlled capitalism – they ban the US platforms within their country and instead incubate and control a Chinese equivalent. This gives them full autonomy. When Amazon was built, China built Alibaba. When Facebook was created, China banned it and built Renren. When Twitter popped up, China came out with Wiebo. When Skype entered the market, China made Wechat – which even now has 960 Million users. China banned eBay and built Baidu. China is following this same model for blockchain technology – and it is looking like NEO will be China’s crypto.

NEO

China wants to spread their influence over the rest of the world with Blockchain technology and now they have the opportunity to do it with NEO. NEO’s founder Da Hongfei even claims that a collaboration between his company and the Chinese government is possible in the near future.

Hongfei met with Chinese regulators before the recent ICO and bitcoin exchange ban throughout the country, which temporarily plummeted the markets. Hongfei stated that Chinese regulators consulted him for “information and suggestions” prior to the ban. In reference to a potential rumor that the Chinese government will build upon NEO, Hongfei stated: “I do not expect the government to call me in the short term and say, ‘Let’s use Neo as the blockchain technology infrastructure in China.’ But in the medium term? Why not? I think it’s possible.”

Related posts

Enjin Coin Jumps over 200% Following Listing on the Samsung Galaxy 10 Wallet

Viena Abdon

Facebook Now Has 100 People on Its Crypto Project; Hiring Still Ongoing

Viena Abdon

European Central Bank Officer Say Libra Won’t be Released until Regulators Satisfied It’s Safe

Viena Abdon

Crypto Exchange OKcoin Trading Services Now Available to 7 Additional US States

Viena Abdon

Ontario Town Approves Property Tax Payments with Bitcoin

Viena Abdon

Bakkt Exchange Off to a Slow Start, Only Trades 71 BTC Futures on Launch Day

Viena Abdon

Leave a Comment