NEO, a project dubbed the “Chinese Ethereum”, and the Blockchain-based Services Network, or BSN, are joining forces to push blockchain’s mainstream adoption forward, according to an official announcement on July 22.
Overcoming major barriers
High entry barriers and fragmented developer experiences are major barriers which are preventing the mass adoption of blockchain technology, according to the report.
To solve these problems, BSN aims to provide a public repository of blockchain resources. The network will also try to reduce costs related to development, deployment, operation, maintenance, connectivity, and application management.
As one of the first public blockchains supported by the network, NEO says it will leverage BSN’s global public city nodes and portals to help developers overcome the hurdles and challenges that prevent mass adoption.
Leading enterprises such as Chinese State Information Center, China UnionPay, and China Mobile will also join the blockchain union to accelerate adoption. Da Hongfei, Founder of Neo, noted that:
“Blockchain adoption has accelerated dramatically within the past few years[…] we look forward to overcoming the challenges facing mainstream blockchain while fostering cross-industry collaboration.”
NEO was created in 2014 under the name Antshares. The project rebranded in 2017, shifting focus to digital assets and “smart economies.” NEO also acts as a platform for other blockchain projects, most notably Ontology (ONT).