NEO Smart Economy is the next generation of Chinese economy and commerce where trade agreements are written in programming code using Smart Contract.
The intelligent contract is stored in a decentralized and immutable BlockChain and will be executed exactly in accordance with the terms of the commercial agreement and exactly at the agreed time. This allows an economy where two or even thousands of parties can agree on a contract without the need to trust each other.
The smart contract will be executed with the rules defined in the contract
To enable this intelligent economy, NEO's technology allows the digitization of any real asset. In practice, it means that any physical asset can be represented as a digital asset in the NEO chain and the ownership of that asset can be divided and distributed among any number of owners. It is compatible with a clearinghouse, but with insignificant rates and with accessibility to the general public
This also means that the trading of assets can be done almost instantaneously and without the need to trust any other party, since all trades will always be executed according to the rules defined in the smart contract.
Even with the knowledge that all trades will always follow commercial rules, we as human beings often want to know who we are negotiating with. NEO recognizes this requirement, and has technology to support digital identity.
Individuals and institutions can obtain their own digital identity, and market participants can choose to only trade with parties that have a confirmed digital identity.
With digital identity, it also allows our institutions and governments to support trade rules and ensure that trade is fair to all parties involved. On the other hand, all schemes of abuse of commercial offers can still be punished according to the applicable law, since the participants can be identified.
It is about NEO Smart Economy where all real assets can be digitized, negotiated with certainty using negotiation rules defined in Smart Contrats, and knowing who is operating with Digital Identity. (Official Website NEO.ORG)
NEO I enter very strong not only in the Asian Market but also in other markets, to this day it is quoting on the rise.
