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Nov. 9, 2018
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Da Hongfei, the NEO founder, considers that the Blockchain and cryptocurrency have advantages for the gaming industry development.

Hongfei commented on the growing popularity of Blockchain in the gaming industry, and noted that NEO, in particular, was chosen for Blockchain game projects. He also noted that NEO’s company called NewEconoLabs officially sponsored a competition to develop Blockchain games. According to him, the use of Blockchain in games instead of finances is the result of regulatory barriers. Hongfei considers that game development has the significant impact on the Blockchain society.

“In essence, Blockchain can barely survive within the existing financial regulation system. A licensed institute may find it unnecessary to cooperate with a Blockchain company because it is already licensed to conduct the business. Why would it bother to be engaged in a partnership that doesn’t benefit it that much? If Blockchain companies end up with no license, they won’t be legally permitted to promote massive adoption of applications.”

He was asked about the NEO decentralization, which is sometimes questioned. NEO isn’t mined like traditional cryptocurrencies, and its supply is stable. The main nodes that make up the network are owned and operated by the NEO Council. Hongfei replied that recently a number of other persons have been introduced into space, after all, they can work on the mainnet: “The team will delegate the voting rights to the public in the future and by this time the team will have a less dominant influence on the voting results.”

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