NEO is referred to as the “Chinese Ethereum”. It utilizes blockchain technology and digital identity to digitize assets, to automate the management of digital assets using smart contracts, and to realize a “smart economy” with a distributed network. In the future, the project will allow the tokenization of physical assets with the absolute ability to prove ownership through the blockchain.
NEO is positioned as a public cloud. It supports smart contracts, dApps, and third-party ICOs. At the same time, NEO supports many additional codebases (such as C #, VB.Net, F #, Java, Kotlin), which makes it more convenient for developers, while Ethereum has its own proprietary language called Solidity. Additionally, the platform offers a decentralized storage solution, NeoFS.
We invest in NEO, because it is a Chinese counterpart of Ethereum, and China has not only the upper hand, but also a huge potential in the crypto economy. We should also keep in mind that China is a rather closed country. Once cryptocurrency is fully legalized there, they will use a cryptocurrency based on a domestic blockchain, which will create a huge market for NEO.