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The founder of NEO: the ban of ICO in China is not temporary


The founder of the NEO platform, which recently announced the return of funds to investors in connection with the banning of ICO in China, Da Hongfei was a guest guest, along with Patrick Dai, developer of QTUM, on the Unchained podcast, organized by Laura Shin Shin), the editor-in-chief of Forbes. The main topic of the discussion was the recent events in China and their potential impact on the crypto-currencies and the development of the blockbuster.

One of the most important outcomes of this conversation is that, like Da Hongfei, and Patrick Dai believe that the ban on ICO and the closure of centralized crypto-exchange exchanges is not temporary. However, they note that the private fund-raising is still legal, and in their view, the exchanges are already planning to transfer the trading of ICO tokens to other countries, which are put to it more loyally. In contrast, Hu Bing, a researcher at the Institute of Finance and Banking, supported by the Chinese government's research organization, previously reported that these bans are just temporary.

Discussing the future of his projects, Patrick Dai said that QTUM shifts its attention from China to countries such as the US, Korea and Russia. Yes, Hongfei also recalls that NEO has recently positioned itself as a global platform in the issue of future prospects, but also continued that he believes that governments will in any case want to regulate the crypto currency. In his opinion, confidential coins "will not be in a trend" for the next few years, so the introduction of digital identification will be necessary to ensure the compliance of projects within existing legal systems. To this end, NEO is developing a "global legal framework" for smart contracts operating on their platform, so that token sales can be legally executed in most large countries.

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