Da Hongfei, the NEO founder, opined that in the current scenario, the world has to follow a pattern of de-globalization. He further stated that blockchain would be the technology that will bring back humanity together as a global community over again.
NEO Smart Economy Tweeted: “Hongfei Da, founder of #Neo, delivered an online speech at the @BlockDownConf today. Hongfei talked about what blockchain needs to do to cure the post-pandemic syndromes the world will face.”
Blockchain is not backed by capitalism or socialism. Da called Blockchain “Idealogy agnostic” and furthered that with different nations having different financial concepts and ideals, blockchain will be the neutral ground to bridge those gaps.
Hongfei stated that it would not be possible for nations to recover by making use of their own infrastructure and supply chains after the pandemic. Nations will try to defend themselves using the nationalism ideal. Still, blockchain will play the role of a host in enabling a global marketplace, allowing everyone to trade with everyone.
The global economy continues to get tied to fiat, and blockchain is not ready to immediately universalize the human economy on the blockchain. However, it can improve interoperability, tokenization, and adoption.
Sydney Ifergan, the crypto expert, tweeted: “Interoperability, Tokenization, and Adoption as Da Hongfei, NEO founder states is the key to rebuilding humanity and global economy breaking past the nationalistic ideals.”
In the Blockchain 2020 online presentation, Hongfei assured that audience that Neo Global Development (NGD) representatives in Shanghai, Seattle, Zurich, and Seoul are healthy before he touched upon the issues.
Pragmatism is the path forward because, as opposed to binary choices, we will be looking at the multivariate spectrum of adoption on-chain, centralized, permissionless, off-chain, decentralized, and permissioned.
Da also spoke about NEO3 and its flagship features with built-in oracles and NeoFs distributed storage network about the NeoID digital Identity standard.
Da stated, “with Neo3, developers and users will have the ability to be able to transfer BTC, ETH, ONT, and other assets between different blockchains.”
Da spoke about how inflation and de-globalization are major concerns. However, he clarified that “there probably there won’t be anything better than crypto assets.”
Da opined that the mathematical limits in cryptocurrencies provide for protection against devaluation and inflation.
World leaders are concerned about developing distrust due to different political systems, values, and ideologies. Still, blockchain by virtue of being ideology neutral, juristic agonistic, and global market place will solve the distrust and help rebuild trust.
A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5
Get the latest Crypto & Blockchain News in your inbox.
