• Da Hongfei, the founder of NEO, believes we are currently seeing a pattern of de-globalization.
  • According to him, blockchain will put humanity back on track to become a global community.

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.


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended content


Recommended Content

Editors’ Picks

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC consolidates while ETH and XRP show some strength

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC consolidates while ETH and XRP show some strength

Bitcoin (BTC) consolidated between $94,000 and $100,000 in the last nine days. Ethereum (ETH) and Ripple (XRP) prices stood relatively stronger and have gained nearly 3% and 7%, respectively, this week.

More Cryptocurrencies News
Trump's US reciprocal tariffs pause fails to improve Bitcoin and crypto market outlook

Trump's US reciprocal tariffs pause fails to improve Bitcoin and crypto market outlook

Bitcoin (BTC) and top cryptos halted their declines following a pause in President Donald Trump's reciprocal tariff plans, which were originally scheduled to go live on Thursday.

More Cryptocurrencies News
Ripple vs SEC battle nears end as the regulator acknowledges Grayscale XRP ETF filing

Ripple vs SEC battle nears end as the regulator acknowledges Grayscale XRP ETF filing

Ripple's XRP is up 4% in the early hours of Friday following the Securities and Exchange Commission (SEC) acknowledgment of Grayscale's 19b-4 filing to convert its XRP Trust to an ETF.

More Ripple News
200,000 New Investors Buy Ripple (XRP) 30-Days After Gensler’s Farewell: What Next for Stellar (XLM)?

200,000 New Investors Buy Ripple (XRP) 30-Days After Gensler’s Farewell: What Next for Stellar (XLM)?

Ripple (XRP) price consolidated around $2.40 on Thursday, up 11% since Monday, technical indicators suggest Stellar (XLM) has joined the rally.

More Ripple News
Bitcoin: BTC consolidates before a big move

Bitcoin: BTC consolidates before a big move

Bitcoin's (BTC) price has been consolidating between $94,000 and $100,000 for the last ten days, and, when writing on Friday, it hovers around $97,000. Despite this consolidation, US Bitcoin spot Exchange Traded Funds (ETFs) data recorded a total net outflow of $650.80 million until Thursday, hinting signs of weakness among institutional investors.

Read full analysis
The Best Brokers of the Year

The Best Brokers of the Year

SPONSORED Explore top-quality choices worldwide and locally. Compare key features like spreads, leverage, and platforms. Find the right broker for your needs, whether trading CFDs, Forex pairs like EUR/USD, or commodities like Gold.

Read More

BTC

ETH

XRP