NEO – Why I’m HODLing: Background

Back in early July of this year, I wrote about Antshares being The Ethereum of China. In the article, I wrote about my initial apprehension towards them because of the brand – I mean, it was called Antshares with a logo of an ant! But, I also followed that with some background, including their partnerships and key features. Since then, Antshares has rebranded to NEO, and I turned $16k into $45k hodling for a week. Thanks, Antshares!

So, what caused this crazy run-up last week? There were a few developments: the release of Smart Contracts 2.0, increased exposure to Western audiences, partnerships and ICOs.

Smart Contracts 2.0

If you follow the crypto space, you’ve probably heard of smart contracts before.

Blockgeeks.com describes them as a way to “help you exchange money, property, shares, or anything of value in a transparent, conflict-free way while avoiding the services of a middleman”.

Why do smart contracts matter? They are the catalyst for growth when it comes to the monetary value of the platform they’re built on. In the case of Ethereum, ICOs have brought in millions of dollars of value in a matter of months. For example, Filecoin raised $200 Million in 60 Minutes!

Ethereum uses a programming language called Solidity that has been created specifically for the Ethereum platform. While this is a novel approach, it does create a barrier-to-entry for developers looking to jump into building dApps. NEO has created their own smart contract platform, except they have utilized existing, well-known programming languages like .NET, Java, and Python (in the near future). A smaller barrier-to-entry means faster growth, wider adoption, and a more robust platform. All of these things means a much higher price for NEO.

Exposure to Western Audiences

The last time I wrote about NEO (formerly Antshares), it was almost impossible to find material regarding updates, announcements, etc. Since they are based in China, it makes sense, but nonetheless, it was difficult as a U.S. based investor to learn about them. Since then, there has been a ton of exposure! Below are a few articles:

Can NEO Become The Largest Cryptocurrency in the World?  Huff Post – 8/12/2017

Suddenly, the “Chinese Ethereum” Is Up 376 Percent: Reasons & Trends  CoinTelegraph – 8/11/2017

NEO Co-Founder Banks On Blockchain To Build A Smart Economy  Forbes – 8/10/2017

Suddenly, traditional investors from the stock market are moving over to NEO, adding in a lot of new money. NEO is now in the Top 10 on coinmarketcap.com. To put that in perspective, it’s worth more than Ethereum Classic and Dash. Clearly NEO is growing very quickly.

Partnerships & ICOs

Starting with technical partnerships, NEO has reached an agreement with Bancor, Coindash and Agrello. Among these, Agrello is very interesting. Essentially, Agrello is a platform built so that users without any coding or legal skills can create smart contracts for various purposes. In the future they will utilize AI to walk you through more detailed versions of their contracts but for the MVP, it’s an easy to use, fill in the blank platform.

The first ICO to launch on the NEO platform is Red Pulse. According to their website, Red Pulse is a next generation intelligence and content ecosystem for china markets.

Their Target Raise Amount is $15,000,000. Remember how I mentioned earlier that ICOs drove Ethereum’s growth? This is ONE ICO targeting $15,000,000. It won’t be long before NEO moves to the Top Five position on coinmarketcap.com.

Conclusion

So, after researching and writing about Antshares, and now writing about NEO today, I am more bullish than ever. The core of my portfolio is NEO and I sleep very well at night. What do you think? Is it all hype? Or is it possible that all of us who missed the Bitcoin and Ethereum run-ups have been given a “third” chance? I’m betting on the latter.