NEO MAY BE THE FUTURE OF ICOS

NEO MAY BE THE FUTURE OF ICOS

it is no secret that the Chinese government hasn’t taken too kindly to initial coin offerings. In fact, China is one of the handful of countries wherein organizing ICOs is basically banned for the time being. That doesn’t mean this new business version will no longer be pursued any further, even though, as there's still a lot of cash waiting to be raised. How this will be done without governmental approval stays the big question.

a few people are claiming that NEO will play a big role in this regard. This currency has constantly been labeled the Ethereum of China, although it hasn’t exactly lived up to the one's expectations just yet. The Chinese authorities have no longer proven any great interest in NEO, nor is it trying to use this platform as the move-to ICO solution. If initial coin offerings make a return to China, they will revolve around centralized and governed platforms which do not contain cryptocurrencies or virtual tokens issued at the Ethereum blockchain.

at the same time, it seems there may be some authentic interest in NEO as a new ICO platform. a lot of people are claiming this particular project is exempt from Chinese regulations because it already follows the country’s rules and guidelines. that may be an alternatively interesting assumption, as China has no authentic ICO guidelines as of yet. without such a framework, there aren't any rules to follow, and NEO can't be compliant whatsoever. even as the project originated in China, it doesn’t mean projects hosted in this chain won’t be considered to be ICOs.

Assuming there's some reality to those ICO rumors, things might also turn out pretty spectacularly for NEO. those are simply rumors at this point, though, and should now not be taken into consideration whatever more. NEO has the ambition of turning into China’s first public blockchain-based cryptocurrency. once more, that is a very lofty and ambitious goal that may not be achievable in the long run. without explicit governmental approval, no virtual token or cryptocurrency is legal in China.

at the same time as there seems to be a real interest in NEO by a few companies, it stays to be visible how things will play out. One source claims that groups along with Microsoft and OnChain have an interest in the usage of NEO as their pass-to blockchain platforms. without official announcements by way of these companies, statements like this one need to be taken with a few buckets of salt. It is ideal to see an excited network, but for now, these are not anything extra than unconfirmed rumors.

it'll be exciting to see how the ICO industry evolves in China, although. there is still a totally strong belief that the country’s government will reverse its ban in the coming weeks or months. right now, there's no indication of that going on, at least not wherein non-government controlled structures are involved. NEO without a doubt has the technology to permit people to organize ICOs, but it is doubtful any essential entity will use it for this particular purpose. only time will inform if NEO is a true currency or another pump-and-dump coin.

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