Antshares has the distinction of being China’s first open-source Blockchain platform. Earlier this month the company held a meeting at the Beijing Microsoft headquarters which was attended by about 200 representatives from various organizations. This meeting was held for Antshares to announce their rebranding as NEO, which brings with it innovative plans for Blockchain development.

NEO

The ANS symbol will soon change to NEO, which is a brand name taken from Greek that means novelty and youth. In the meantime, NEO developers are working hard on a UI for the revamped brand while also working with new clients.

Presentors

Da Hongfei is the founded of NEO and he laid out NEO’s strategies as related to the future of Blockchain technology, a place where digital identities, digitization of different assets, and decentralized commerce will become a reality, along with a new contracts code.

An emphasis is on openness of data, along with a need for transparency which Hongfei expanded on, explaining how the ‘Smart Economy’ would be based on the new smart contracts system.

Announcements

Major announcements made by Hongfei at the event included the following: NEO will be partnering with certificate authorities in China in order to digitize real-world assets by use of smart contracts. NEO has a new patent for cross-chain distributed interoperability. Some of NEO’s recent startup partners include Agrello, Bancor, Binance, Coindash, and Nest Fund.

Core Developer for NEO, Erik Zhang, then gave an introduction to Smart Contracts 2.0 and made an explanation about what differences there are between Ethereum and NEO. NEO has support for all programming languages by virtue of a compiler, including Go, Java, Kotlin, Microsoft.net, and Python. Ehtereum, on the other hand, uses Solidity programming as its only option. NEO believes allowing many programming languages makes it more likely it will attract various developers.

Monsit Jangariyawong/123RF

NEO will also have a project similar to DAO by Ethereum, which will be called Nest Fund. Changes will be made to resolve shortcomings and it will only be released following auditing from a worldwide peer review.

Srikanth Raju, GM, Developer Experience & Evangelism and Chief Evangelist, Greater China Region, Microsoft, said that Onchain (the company that founded NEO) is “one of the top 50 startup companies in China”, and offered his support for pushing its endeavors further.

Innospace CEO Chen Cheng Qiang also announced collaboration between his company and NEO, along with a $29 million incubation fund for the project. Coindash has also partnered with NEO in order to provide investors with prediction and advisory tools.

Final Thoughts

NEO seems to be promising a lot of infrastructure reforms by the use of innovative concepts. With many high-profile companies and ground-breaking startups supporting the project, it shows great promise for Blockchain technology in China, as well as on a global scale. Knowing the Chinese government is supporting the project will make it easier for things to take off and allow integration of Blockchain technology in the mainstream world.