NEO is not China's (PBoC) official blockchain, but it's okay. Here's why.
PBoC will be announcing it's own blockchain shortly and it will not be NEO.
-It will be used for government tasks, from records keeping IDs to maintaining health records and whatever other centralized government functions they can think of. -it will not be traded on bittrex, binance, or any other exchanges we are familiar with. -there will definitely not be any ICOs on this blockchain.
So really, this blockchain has nothing to do with us crypto traders. And it's also interesting to note that Da Hongfei advised PBoC in it's development.
So what does this mean? When we talk about "China's crypto" we really mean "Chinese regulation compliant". Case in point, weChat is not the China's official chat program. Baidu is not China's official search program. They are merely regulation compliant programs that rose to the top of their respective fields and eventually became synonymous with China.
Neo team had made it clear time and time again that they are fully compliant and have no problem with regulations. However, the crypto field is at its infancy and it's too early for a blockchain to become synonymous with China. That said, neo has the first mover advantage and had already been labeled, albeit by the West, as "China's ethereum". Neo will undoubtedly lead Chinese crypto when China reopens it's exchanges under it's regulations.
Bottom line, don't dump your Neo because your idiot friend promised you it will be announced as China's official crypto at the 19th communist party Congress; it won't. My reason for writing this is to educate so people don't FUD and dump neo when it's not named as China's official crypto. But it will soar nevertheless as the Chinese cryptocurrencies are just getting started. Don't sell to regret a year from now.
spread the word.!
If you found this helpful and would like to donate BTC, please send to 17LoUp44v3VWj1xQREzu12hKgRs8Yu6Hmq Wouldn't dare ask you to donate a neo as it's indivisible and I don't want to take a lambo from anyone.
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