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With all the drama, FUD and absolute BS from all these world economists and all of a sudden China experts, I thought some truth would be refreshing to clear the air from someone who has worked with China for many years, dodging new laws week to week in business working with the Chinese Govt.
Here's why this was all part of the plan and if you know China and Communism, this is the process and always was.....
#1 DID WE FORGET ABOUT THE COMMIES? (CHINA)
In my earlier article on EAST v WEST (https://steemit.com/neo/@crypto-kiwi/east-v-west-another-reason-to-buy-neo) I went on to explain how the EAST (China) does not incorporate anything from the WEST (Developed world) and for good reason.
While the Chinese Communist Party has adopted some aspects of capitalism, China firmly remains a textbook communist country:
The Party controls all land and the “Commanding Heights of the Economy“ which maintains strict controls on speech, assembly and beliefs. The Chinese Political regime’s structure is that of a classic Leninist dictatorship (oh how Lenin would be proud :P )
Did you know that only 3% of the companies in China are listed as State companies now? But they still receive 25-30% of the total output?
Also in every key industry you will find a Government representative dictating play. For instance, Jiang Mianheng, the son of former Party leader Jiang Zemin, is known as China’s “Telecommunications King” due to his large interests and majority control over the industry.
Secondly China still has the largest firewall and censorship program seen in this world (bar that of N. Korea) where 2 Million internet censorship agents are removing any outside thoughts or sentiments from leaking into China or vice versa. China is truly a Communist state.
#2 WHAT ABOUT NEO?
Ok ok, so now we have scraped the top of what China and Communism means, now let's delve into NEO and their strategy.
First of all have you noticed NEO does not use a "Neocoin" or "token" - this is intentional by design, NEO uses the Chinese Yuan ¥ as its central source of value......... Wait wait wait not a Crypto?
NEO knows fundamentally that the Chinese Government will not loose control under any circumstances and NEO obliged with abiding to big brothers rules and did not create a alternate source of value, one that the Chinese Government could not contain, control or create at will.
Onchain - if you dont know, now you know (jigga). Onchain is one of the largest Blockchain companies working with the Chinese Government to advise and roll out the Digital Framework for ;
#1 Chinas Private Blockhain
#2 Chinas Public Blockchain
Da HongFei NEO's Founder and Onchain CEO is deeply intertwined in the Chinese Fintech landscape and Onchain is securing China's Enterprise blockchain alongside the Chinese Government - don't underestimate this fact!
So in short Da Hongfei is working on both Private and Public blockchains.....
#3 NEOS FUTURE?
Working with China is never a sure thing, the ink usually runs out before it dries and this will always be the case, week to week antics and to never be trusted....
However, China cracking down on ICO's was always to be expected - 90% of ICO's are truly Ponzis or Scams which have little to zero actual value.
China is professional at stiffling progress for them to get the legal frameworks needed to a) Control the environment b) Profit and maximize for China.
My bet is that China is scrambling to draw this framework up as we speak, selecting strict guidelines for ICO'S , Investors and regulation to "protect the consumer" but we know it is to oversee and disregard anything that does not align with the Chinese Dynasty.
Let me know what your take on this is? NEO to live or die? Love to hear your thoughts!
I'll leave you with this - made me laugh.....
I like that you shared your thoughts and experiences with the Chinese, but unfortunately I don't really get your opinion. Do you think NEO will be more or less the only big cryptocurrency in china or will it die?
Greetings and thanks for your post.
I'd say so, inferred implicitly.
Thanks for a great post! Really inspiring!
Nice take on this "hot potato". So, is NEO the one? (pun intended)
Thank you very much for this post!
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