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21 May 2018
In its quest to become the leading ‘Smart Economy Blockchain’ by 2020, NEO has been quite active when it comes to setting up the structures allowing it to achieve such a goal. It is often times overlooked that beyond the promise of amazing technology, there is a need for organization and structure. At least, if a blockchain project wants to achieve anything substantial and longlasting.
In the future people will be able to organize organically by using people driven blockchain consensus mechanisms. However, the truth is that today we are not ready yet. We are only now starting to figure out how we can create the right consensus algorithms in a node structure. Additionally, participation in these consensus networks is still limited to a small number of participants. In other words, until consensus mechanisms have matured enough, we will still need to do a whole lot of organizing ourselves, driven by ‘centralized’ groups of people.
With this in mind, one has to admit that the NEO team does seem to have sufficient organizing talent in its ranks. We are witnessing an impressive rollout of their organizational structure. In a recent interview given by Da Hongfei with CNN’s Martina Fuchs in Switzerland, the CEO of NEO briefly discussed their internal reorganization.
He mentioned that NEO just went through a reorganisation process. In this structure, we’ll find the NEO Foundation at the top of the chain. Underneath the NEO Foundation, you’ll find three subsidiaries. NEO Global Development (NGD), NEO Global Capital (NGC), and the Open Blockchain Foundation (OBF).
NGD is tasked with ensuring the overall ‘health, progress & security’ of the NEO blockchain, the ‘Core’ code, ‘Smart Contract’ code, etc… We recently saw NGD in action, when it efficiently addressed a flaw in the code of some of the deployed ‘Smart Contracts’ with respect to a storage vulnerability bug that was found by Red4Sec.
NGD can also hire developers to improve the ‘Core Protocol’ and endorse certain marketing & communication-related activities such as organizing meetups, conferences and so on.
The NGC entity was specifically created with the intention of providing venture capital for blockchain related projects and technologies. The NGC fund is without a doubt one of the most influential tools that the NEO foundation has at its disposal. It can act as an ‘angel investor’ for promising development teams and accelerate their growth.
NGC is currently run by a team of 5 partners. Namely, Tony Tao, Wayne Zhu, Roger Lim, Tony Gu and Piyush Chaplot. Together they hold an impressive resume and bear a great responsibility as they invest in the future of NEO.
A rule of thumb! It might be a rewarding tactic to keep an eye on the portfolio of investments Neo Global Capital is making. Here you find an illustration of the portfolio of projects they have been backing as shown on their website. I am, however, under the impression that this list is not complete as we are aware of investments in nOS, Moonlight, NNS, and others.
Last, but not least, OBF is a charity that is focused on nurturing research into blockchain technologies. It will focus on creating longlasting ties with ‘Blockchain Technology’ research centers, universities and leading academics in the field.
In closing, it is obvious that NEO is addressing the entire space holistically. There is a clear strategy at play to be entrenched as an organization into the fabric of distributed ledger technology. I cannot imagine a better strategy if you plan to be around for the long-term and become number one.
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