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NEO founder Da Hongfei told Blockown 2020 attendees that blockchain technology could be the technological remedy required by a weakened post-pandemic world.
NEO (NEO) founder Da Hongfei appeared at the Blockdown 2020 virtual conference on April 16, where he spoke about blockchainâs role in the post-pandemic world.Â
The creator of the project dubbed the âChinese Ethereumâ suggested that the world was currently witnessing a pattern of de-globalization. According to Hongfei, blockchain will be the technology that puts humanity back on course to becoming a global community.
Hongfei pointed out that blockchain is ideology agnostic, and while different nations may have different financial ideas and concepts, blockchain can be the neutral ground which bridges those gaps:
âFirst of all, blockchain is ideology neutral. Itâs not backed by capitalism, itâs not backed by socialism. It is jurisdiction agnostic⊠Sometimes people say code is law, I think thatâs a smart way of saying blockchain is jurisdiction agnostic.â
Blockchain as global economy
Hongfei said nations in the post-pandemic world would struggle to recover using their own strained infrastructure and supply lines. The NEO founder suggested that while nations may be tempted towards nationalism in the coming months as a defense mechanism, the blockchain could function as the host of a global marketplace:
âBlockchain can become a global marketplace. A ledger is a global database. If we can put all of the global assets on the blockchain, we can have a global marketplace where everyone can trade with everyone.â
That said, Hongfei doesnât necessarily think the current crop of blockchains are equipped to deal with the demands of hosting a global economy. Most of the worldâs value is still tied up in fiat money, and before blockchain can take over, it will have to improve in three key areas, said Hongfei. adding:
âIs todayâs blockchain technology ready? Unfortunately my answer is no. I donât think todayâs blockchain can fulfill the mission to hold the human economy on top of it. We can improve in three aspects: interoperability, tokenization and adoption.â
NEO was created in 2014 under the name Antshares. A rebranding job in 2017 saw the project shift focus to digital assets and âsmart economies.â NEO also acts as a platform for other blockchain projects, most notably Ontology (ONT), which is currently ranked 30th by global market cap.
Blockdown 2020 runs for the next two days, and will feature a range of speakers and personalities from within the blockchain space.
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