China has been cracking down on ICO’s and Cryptocurrency exchanges, but tides are changing. It seems that China is once again allowing ICO’s to make use of China’s market, under one condition however.
This is an article based upon the writers analysis and market speculation.
This condition is that NEO will most likely be used as the smart assets platform when conducting an ICO in China. This is because NEO is a Chinese open source public chain platform and it is not a secret that China prefers to keep things in Chinese hands.
After China’s ban on ICO’s, it has been quiet for a while. Even though that the most logical outcome would have been what now seems to come true. Which is that NEO will be leading China’s block-chain and cryptocurrency future. Onchain which is also run by the same CEO as NEO, Da Hongfei, has been in direct contact with the Chinese government for a while now.
Right now there are several Chinese ICO’s announced that will use NEO as its platform. There is also an ongoing ‘Decentralised applications’ (dApp) competition, that is looking for possibilities to combine its dApp(s) with NEO. These announcements come right after China has had its 19th Communist Party Congress. During this congress the Chinese Communist Party, strengthened its power by standing behind its leader: Xi Jinping. His vision of China is an optimistic one, where China is the new world leader. The world leader, especially in fields such as innovation and technology.
Source/More: China is allowing ICO’s again | The RMB Theory