NEO’s 2019 DevCon occasion in Seattle started with a bang when the business’s Co-Founder, Da Hongfei, opened the occasion with a speech concentrated on the pledge of the clever economy, and shared his views on how NEO will assist assist the world towards a brand-new, tech-based, future.
Notably, Hongfei revealed an ardent belief that the clever economy is far more than an easy motion within the monetary environment and will eventually show to be the next phase in world financial advancement, moving the world far from an industrial-based economy and towards a digitally-based one.
What is the Smart Economy?
Throughout history, there have actually been numerous phases of financial advancement that have actually assisted most nations towards their present financial status. Hongfei thinks that a “clever economy” will be the next evolutionary phase of economics that pulls the world far from an industry-based economy and towards a digitally-based one.
Throughout his speech, the NEO co-founder described that the clever economy will be completely digital, programable, and interoperable. Blockchain and dispersed journal innovation (DLT) will certainly play a big function in this assumed brand-new worldwide financial system however will likewise use individuals of this brand-new economy another crucial advantage: decentralization.
Within this brave brand-new financial system that Hongfei postulates will continue that which we are presently in, its decentralized nature will cause considerably higher openness and addition within not just monetary systems, however likewise within society in basic.
In addition, Hongfei kept in mind that within the clever economy, its decentralized nature will likewise permit higher flexibility within all markets, and smaller sized federal governments.
How NEO Might Add To the Smart Economy
Naturally, Hongfei thinks that NEO will supply a strong base for this brand-new economy to be built on, as the network motivates numerous tasks in a large range of markets to develop product and services that can use take advantage of everybody varying from investor to potato farmers.
Hongfei and fellow NEO co-founder, Erik Zhang, likewise launched more information about NEO 3.0 throughout the DevCon occasion, which they hope will assist to eventually move NEO to end up being the primary blockchain worldwide by 2020, and to assist introduce the brand-new age of the clever economy.
NEO 3.0– which might use up to one and a half years to be completely executed– will use numerous advantages to the network, consisting of upgrades to the architecture of NEO, include assistance for layer 2 and sharding services, and deal higher rewards in an order to enhance on-chain governance services, while likewise increasing the network’s security.
If tasks and corporations around the world continue relying on blockchain at a quick rate in an effort to increase their functional performance, the world’s financial system might eventually shift far from industrialism and towards the clever economy that Hongfei thinks NEO will contribute in forming.
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