ICO on the platform of NEO — China’s response to US sanctions

ICO on the platform of NEO — China’s response to US sanctions

When the administration trump made an attempt to ban Chinese companies to invest in U.S. technology projects, many investors wondering where to invest your money now. Moreover, the prohibition applies not only to China: the United States plan to prohibit investment of any country that, in its opinion, can usurp American development.

The news of the ban lowered the stock prices of many technology companies from the United States. For example, shares of Micron Technology (NASDAQ: MU) fell nearly 7%. In this industry, the uncertainty in the outcome of trade wars and the news of the ban of investment has led to sales. Meanwhile, crypto-currencies are more or less stabilized — many altcoins publish reports double-digit percentage profit. Perhaps the money could be invested in stocks of U.S. companies now will take on the cryptocurrency market through ICO.

China and other countries affected by the ban, the United States can now become aware of the fact that the cryptocurrency market is an attractive alternative technological investments. China will not hesitate to have supported the development and use of cryptocurrency assets created in the country and working closely with regulators.

In China was created by NEO,the thirteenth-largest cryptocurrency, which is currently trading at a price of about $ 30, and has a growth potential of more than 50% to its record high of $162. For anybody not a secret that China and the United States constantly compete to be the leader in technology: perhaps cryptocurrencies are the means, which will give China the advantage.

A new cryptocurrency projects comes from China, and, most interestingly, many of them closely associated with the Chinese government. Perhaps this is China’s strategy to promote and support the “home” of cryptocurrency initiatives.

For example, THEKEY project, developing tools for authentication and identification, built on the NEO platform, working closely with the Chinese government. China is making great efforts to work with THEKEY on the study of possible applications of the blockchain in the social security system.

This is big news: the desire of the government of the country with global influence to use the blockchain for improvement and, ultimately, replacement of the existing system of identification and data collection.

THEKEY is currently trading at a price of $ 0,008415, has a market capitalization of $39590 000 and is listed on small exchanges such as Kucoin and HitBTC. If the project receives more attention and will be listed on more major exchanges, this will lead to a subsequent increase in the volume and we can observe significant growth rates.

Another prominent Chinese cryptocurrency project — NEO, the so-called “Chinese Ethereum”, as you know, the success of Ethereum due to the large number ICO launched using its platform. Because the US is trying to oust China as a competitor, NEO, it seems, salvation for the Chinese technological innovation. If the ICO will begin to run on the platform of the NEO with the same speed as on the Ethereum platform, perhaps NEO will be able to overtake some of the biggest cryptocurrency and become the best choice for developers who want to build applications on the blockchain.

This will mean the return of Chinese Protocol to the forefront of the cryptocurrency ecosystem, along with the Aether and EOS. Recall that the government-backed China ratings of cryptocurrencies, recently put EOS in the first place. To avoid obstacles from the United States and to become a leader in the cryptocurrency industry, China will have to invest the time and money.

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