Da Hongfei, the founder of Antshares (presently and best known as NEO), believes that blockchains and cryptocurrencies are over-regulated in the extreme. In fact, he was recently quoted in a discussion with 8BTC as saying:
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.
Hongfei should know: NEO, along with several other blockchain ICO-funded projects, offered refunds to buyers in an effort to comply with Chinese rulings on ICOs. One of the effected ICOs was actually a token that lives on the NEO blockchain, Red Pulse (PHX). Today, Red Pulse has a market cap of just $22 million, while the NEO price has been in a depression for quite some time, resting under $20 at present rates.
Hongfei commented on the rise of blockchains being utilized in gaming, and noted that NEO had in particular been chosen for blockchain gaming projects. The interviewer noted that a NEO-based company called NewEconoLabs had officially sponsored a blockchain game development competition. He said that the use of blockchain in games instead of finance, by and large, is a result of regulatory barriers. Of course, blockchain can be useful in both, but Hongfei feels that games development is a good second to finance in terms of impacting society with the blockchain.
In the future,