The world’s 12th largest cryptocurrency, NEO [NEO] has initiated an open blockchain foundation to ensure its position in the ever-competing crypto space. This open blockchain foundation initiation is the first ever contribution made worth a whopping 1.8 million USD. Honorary chair of OBF, Shoucheng Zhang sat with father of Public Key Whitefield Diffie for a fireside chat as well as delivered a keynote speech giving an overview of the entire initiation.
Along with the initiation of the open blockchain foundation [OBF] by NEO, they have also made their first contribution to the OBF as a donation of an unclaimed 1.8 million USD from their own giveback plan. Crypto DevCon that took place a few days ago in California, had NEO as the crown sponsor. The Honorary Chairman and President of Academic committee of OBF, Prof. ZHANG Shoucheng mentioned while he spoke to Prof. Diffie that “Blockchain technology research so far has been rarely funded by the government, whereas some blockchain projects or companies are willing to donate a portion of their funds to support academic research.”
He further pointed out:
“The mission of OBF is to support frontier academic researches in blockchain technology with the funds raised from blockchain industry. NEO’s contribution is of great significance to both OBF and the blockchain industry.”
Prof. Zhang is additionally the founding chair of DHVC, a renowned physicist, an academician of National Academy of Sciences, and also the foreign academician of Chinese Academy of Science. He has contributed prominently to the blockchain industry in the recent years and promises much more from the NEO team.
Open Blockchain Foundation [OBF] is a neutral and an independent initiation with the motive of supporting the R&D in general of the blockchain technology. Following their first contribution of 1.8 million USD from the latest concluded Giveback Plan, they will contribute a further sum of 10-15 million USD in the next few years.
As part of their mission of OBF is dedicated to finding solutions to Quantum computing resistance which is one of the trending topics of discussion and research. All the researches collectively will shape the blockchain future and improvise the technology.
NEO is in the 12th market position with a market cap of $2.21 billion but has been following the market downtrend off late, disappointingly. NEO [NEO] has declined over 13% throughout the last 7 days and to add-on a further 10.4% since the last 24 hours. Currently trading at $34.02, NEO has also been in the list of disappointing currencies with no immediate signs of recovery but such great initiations will sure bring fortune to the team in the mere future, the market speculates. NEO is also set to go live on the iceCUBED exchange, starting from tomorrow, June 22nd. NEO is already trading actively with around 109 trading pairs in various exchanges across the globe.
This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks.