NEO's Smart Economy | Why do you HODL?

NEO was rebranded from Ant shares and is often referred to as the Ethereum of China, the Ethereum Killer, ndog and the One. There are a lot of reasons to look into neo, but for today, we're.

Going to focus on neo's goal to.

Create a smart economy by digitizing assets and automating the management of digital assets using smart contracts. The equation goes something like this.

Digital assets plus digital identity plus plus smart contracts equals the smart economy.

NEO wants to bring everyone into this new economy by making it as secure.

And simple as possible.

Here's the breakdown. Digital Assets Digital assets are programmable assets.

That exist in the form of electronic data.

In order to buy and sell digital.

Assets, you need to have a verified digital identity.

Digital identity refers to the identity information.

Of individuals, organizations and other existing entities.

In an electronic form. In order to transact with complete trust. NEO has the NEO contract Smart contract system contracts, with the main feature being that you can program NEO smart contracts using existing programming languages, which is different.

Than Ethereum, which uses its own programming language, Solidity.

This all makes up the NEO smart.

Economy, which has set out to digitize all assets and allow trustless digitized commerce on a public blockchain. So companies will be able to digitize their services and products.

To build apps.

On NEO in order to safely and.

Transparently transact with one another. To understand this, let's go back. Basically, in the beginning, if I had.

A berry and you had a bunny, we'd trade. If I reneged on the deal and scarfed up the berry, as soon as.

You gave me the bunny, our tribes.

Would war and people would die and.

The whole scene would descend into chaos. Then we became more civilized. If I wanted to trade my berry for your bun, we could set up a time and a place and transact.

And if I reneged, our respective legal systems could make sure that you were.

Well compensated for your lost bunny. And I was punished for my berry addiction. From there, the Internet grew, and now I can trade my berry in America.

For your bunny in Japan. We make a deal and you send me the bunny, and I again reneged.

In this case, depending on how much information you had on me, you may never get reparations for my misdeeds. And I can sit fat and pretty.

With berries, bunnies and alliteration. This is the problem NEO hopes to.

Solve with a smart economy. With a smart economy, my identity is.

Verified, even if you cannot see it. My berry is digitized bunny.

We enter into a smart contract which.

Is made up of code and cannot be bribed.

Or corrupted the contract can track the entire exchange to ensure that I receive my bunny and you receive your berry and we are both happy and neither.

Of us can renege.

If you like the sound of NEO and their smart economy, it is currently sitting in the top 10 coins on CoinMarketCap. With a price of around $130. It can be found on a number of exchanges. Tune in next week for our follow.

Up on gas, the currency that fuels neo's ecosystem.

As a result of poor time management.

Skills and seasonal depression, we are not able to fit in as many jokes.

Or comedy into this video as we would usually like. So as a form of apology, we.

Leave you with this let's get digital.

Digital. I want to get digital. Let's get into digital. Get digital. I want to get digital. Let's get into digital.