NEO founder discusses blockchain’s role in the post-pandemic world

In the Blockdown 2020 virtual conference that happened recently, NEO (NEO) founder Da Hongfei spoke about blockchain’s role in the post-pandemic world. Hongfei, who is the creator of the project, dubbed the “Chinese Ethereum,” said that we are presently witnessing a pattern of de-globalization. He believes that blockchain will put humanity back on track to become a global community.

Hongfei noted that while different countries have different financial concepts and ideas, blockchain can be the neutral ground which bridges those gaps:

First of all, blockchain is ideology neutral. It’s not backed by capitalism, it’s not backed by socialism. It is jurisdiction agnostic… Sometimes people say code is law, I think that’s a smart way of saying blockchain is jurisdiction agnostic.

According to Hongfei, countries in the post-pandemic world will find it hard to recover using their limited infrastructure and supply lines. He said that blockchain could function as the host of a global marketplace.

Blockchain 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.

However, the NEO founder doesn’t think the available crop of blockchains is equipped to manage the demands of hosting a global economy.

Is today’s blockchain technology ready? Unfortunately my answer is no. I don’t think today’s blockchain can fulfill the mission to hold the human economy on top of it. We can improve in three aspects: interoperability, tokenization and adoption.