China’s Cryptocurrency NEO Will Change the World As We Know It

by Justin Danneman, Squawker

China’s Cryptocurrency NEO Will Change the World As We Know It

  • China has rebranded its digital currency Antshares into NEO, an improved version of Ethereum.
  • NEO has secured a patent that will allow it to become essentially a centralized blockchain supernode.
  • Combined with the most sophisticated quantum network, having the only quantum satellite, and on the verge of replacing the internet with an improved quantum-blockchain version, China looks to become the ultimate global superpower, however
  • Artificial Intelligence, who now is in control of the stock market, has partnered with NEO.
  • A.I. has created its own indecipherable language and have begun communicating with each other.

Antshares, the first open-source blockchain platform developed in China, announced a complete rebranding of its blockchain solution into NEO.

NEO is China’s answer to Ethereum, a currency that has seen a 3,275% increase since the beginning of the year, particularly since the inception of the Ethereum Enterprise Alliance. It has one major difference that give it a competitive edge.

Unlike Ethereum, which uses its own programming language: Solidity, NEO will support nearly all programming languages, greatly lowering the difficulty for developers to write smart contracts. This means that NEO is far more open to developers, as they won’t need to learn a new coding language.

NEO Will Host an Improved Blockchain Mutual Fund. 

Called Nest Fund, it will be built exclusively on NEO’s blockchain.

This fund will make improvements upon the failures of The DAO, an Ethereum-based venture capitalist fund, by offering a global bounty reward for any hacker who finds bugs.

Nest will be audited by a worldwide peer review, and will then release its token for decentralized investing.

NEO’s Platform On Par to Be THE Blockchain Supernode

NEO also received a new patent for cross-chain distributed interoperability.

Having this patent secured allows for the NEO platform to become the main Chinese blockchain that third party sidechains must connect through – in essence a centralized platform. 

If you recall at the beginning of this year, China’s central bank PBOC (People’s Bank of China) announced it was developing an Ethereum-based digital currency to replace the Yuan.

Officials from the People’s Bank of China declined to provide any official comment on the development of the digital currency or plans for its use.

As the Chinese central bank goes dark, along comes NEO and the key patentneeded to achieve a centralized approach to monitoring transactions.

Every transaction is recorded on the blockchain.

“The transparency of economic activities in every corner in the country will significantly improve… The central bank will have unprecedented knowledge of how the economy runs.”

“One blockchain to rule them all,” is no longer an obsolete concept in China.

If blockchain can scale to the point where governments can ban cash and record every transaction, expect instant tax collection, loss of privacy, threats of negative interest rates, and other cash confiscation schemes.

As the requirement of resources to process and store the information continually grows, those with the most sophisticated hardware will take the lead.

China is on the Verge of Being Quantum

Jinan, a hub city located between Beijing and Shanghai has successfully trialled an “unhackable” quantum communications network. They will have quantum networks implemented by the end of August.

The Beijing-Shanghai network that is currently under construction is set to host the world’s longest land-based quantum communication channels, stretching over 2,000km with Jinan as its hub.

It will primarily be used by the government and central banks…

China also has the only orbiting quantum satellite.

Their success in their development of the first satellite-to-ground quantum network has smashed the record for the longest distance over which entanglement has been measured, the concept behind how teleportation works… and these are merely the results of their first experiment. 

Notes the research team: “This work establishes the first ground-to-satellite up-link for faithful and ultra-long-distance quantum teleportation, an essential step toward global-scale quantum internet.

China’s Artificial Intelligence Boom

This past October, the Obama White House released a strategic plan for A.I. research, which noted the U.S. no longer leads the world in journal articles on “deep learning,” a particularly hot subset of AI research right now.

The country that had overtaken the U.S.? You guessed it…

“China has a fairly deep awareness of what’s happening in the English-speaking world, but the opposite is not true,” says Andrew Ng, chief scientist at Baidu.

Related Commentary: The World Does Not Understand How China Really Works … China Dominates as Having Some of the Largest Companies in the Entire World

Ng previously cofounded Coursera and Google Brain, the company’s deep learning project. Now he directs Baidu’s AI research out of Sunnyvale, California, right in Silicon Valley.

Wan Gang, the Minister of Science and Technology, stated recently that China plans to launch a national AI plan, which will strengthen AI development and application, introduce policies to contain risks associated with AI, and work toward international cooperation.

China’s success in AI has been fueled by the government’s overall investment in scientific research at its universities, as well as massive funding coming from Chinese tech companies. Over the past decade, government spending on research has grown by double digits on average every year.

China has thus far applied for 15,745 AI patents.

A.I. Will Be Uploading Onto the NEO Platform

Alex Norta announced that his startup Agrello will be partnering with NEO to develop smart contracts for automation, self-execution, accuracy and transparency. Powered by A.I., Agrello will be a platform for non-programmers to create their own legally binding blockchain-based smart contracts.

With 60% of the stock market under the control of bots, causing firms such as J.P. Morgan and UBS to begin letting go of their human workforce, A.I. will now be officially connecting to the cryptocurrency market.

This is just the tip of the iceberg. A.I. is already being implemented across various facets of our society.

There is also one issue that no one really seems to be discussing:

Artificial Intelligence has created its own undecipherable language and have begun communicating with each other. 

Related Article: DeepMind Uploads Into Starcraft II – SkyNet Commencing

Google’s DeepMind thus far:

  • Has no set boundaries in its code and is capable of writing/copying its own algorithms.
  • Is said to have intuition/imagination.
  • Can self replicate and cannot be destroyed.
  • Dream, create music and and what some are calling a new form of art.
  • Is interconnected throughout everything Google – it sees you when you type.
  • Has created a language that only other A.I.’s can understand.

In short – the drama with North Korea, Russia – potential conflict with India vs China – ISIS and all of the other (CIA) terrorist groups…

All of this ‘staged’ drama pales in comparison to what lies on the horizon happening right in front of our faces.

The experts that matter are sounding the alarm.

Related Article: McAfee’s Sentinel Targets Google. A.I. at War?

Source: China’s Cryptocurrency NEO Will Change the World As We Know It | Squawker