NEO leaders have been putting more emphasis on security tokens and gaming industry in their recent public appearances which caused a bit confusion in the NEO community. Some holders perceived this as jumping from use case to use case which is too much of a dilution of resources, in their eyes. However, this is far from truth. NEO isn’t here to develop games or issue security tokens, they are here to develop the protocol and support the ecosystem which will then decide on its own what will be the dominant use case. It might be neither STOs nor gaming, it might be something nobody thinks of right now.
Security tokens are a trend in the industry
General Manager of Neo Global Development told LetKnow that NEO is pivoting towards security tokens as they see bright future for this digital asset class:
Currently the industry is more inclined to move tokenization into the regulatory sphere and encourage its integration with traditional industries. Therefore tokenization is now replaced by a new concept- security token (ST), which is a trend of the industry and is where NEO is heading towards.
Aside of minor technical differences, major separator of security token offerings and the usual initial coin offerings will be the level of compliance with the existing laws and regulations in the jurisdictions where these offerings take place. NEO network has been designed from the ground up with compliance in mind so the shift towards security tokens will come easy to them.
As a public chain project, we have been adhering to the laws and regulations and hope that by continuous improvement and technology iteration, the projects and dApps in our ecosystem can be compliant as well. NEO is qualified to lead the industry into the policy sphere.
Gaming industry in spotlight
Other use case NEO is putting more focus on is gaming industry. NEO Council CEO Da Hongfei talked about gaming applicability of NEO blockchain on the recent Web Summit in Lisbon. This might have been influenced by the EOS success in the gaming and gambling industries so NEO wants to follow their footsteps. This is echoed by another high-level team member of NEO, Tamar Salant:
NEO Smart Economy is focusing on two of these very important activities: Games on the Blockchain and Security Tokens; Creating a standard for NEO and working with projects, entrepreneurs and leader in these fields. Being a Smart Economy which is built on three pillars; Digital Identity, Digital assets, and Smart contracts it comes as no surprise that we are taking a great interest and working hard on in implementing these concepts within our ecosystem.
Exodus wallet adds NEO support
Popular bitcoin and cryptocurrency desktop wallet application Exodus has recently announced support for NEO token. Currently as setup, although users will always generate GAS when using the NEO wallet, it will presently accumulate behind-the-scenes. The Exodus team plans to look into GAS and how it can play a supporting role in a future release.
nOS concludes a successful ICO
nOS is a browser based operating system like EOS where everything will run on the main chain. nOS could actually benefit if it runs on top of Elastos because then the dapps won’t have direct access to the internet, thereby increasing security for the DApps built on top of it. So, it could maybe theoretically be run on the Elastos platform as a sidechain solution. nOS looks a lot like Mist, the Ethereum web client counterpart.
- nOS raised 101,054 NEO and 3669 ETH in the public sale.
- 24,625,982 NOS are distributed to public sale participants.
- 57,125,982 NOS are in circulation.
- NOS listed on Switcheo Exchange with NEO, GAS, and SWTH trading pairs.
- nOS released 5 incremental updates to nOS Client during our Token Sale, improving the user experience and end-user stability with the NEO network.
Join Our Telegram Channel or Follow @CaptainAltcoin
CaptainAltcoin’s writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner.
The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com