NEO is an open sourced and not for profit blockchain project that seeks to fully automate how we manage our digital assets. The team behind it seeks to realize a “smart economy” in order to help us lead more productive lives by using digitized assets and identity along with smart contracts. The project was founded just back in 2014 and was opened on GitHub as an open source project in June of 2015. From that time, the blockchain industry has exploded into frenzy and NEO is in the perfect position it needs in order to help shift the old school economy into a brand new age.
What Are Digital Assets and How Do They Help NEO Achieve Their Vision of the Future?
Digital assets are those that exist in the form of electronic data rather than as physical products. Digital assets are ideal because of how secure they can be. Such assets can be completely transparent as well as trustworthy and decentralized so that the user doesn’t have to worry about dealing with intermediaries. All of this partitioning may sound like it could be difficult to keep organized but proving the connection between the physical and digital world is backed up by law through digital identity.
What is Digital Identity?
Simply put, an institution or private individual or others has a physical identity that is attached to a digital identity through law. It’s based on the Public Key Infrastruction, or PKI X.509 standard. NEO implements standards that easily comply with the X.509 model. The NEO smart economy model also supports the Web of Trust certificate model as well.