NEO is an original and open source public chain project. NEO serves as a smart assets platform. Smart assets are the combination of smart contract of blockchain and digital assets. NEO allows for a smarter way for assets registration, issuance, and circulation.
Digital assets exist in the form of electronic data and with blockchain technology, digital assets becomes decentralized, trustless, traceable and highly transparent. NEO underlying technology supports multiple types of digital assets and use digital certificate to enable trust for public chain, namely the assets issued by users via digital certificate are protected by law. On the other hand, for more complicated scenarios, users can use smart contract to enhance and enrich the functions of assets. Besides, users can also create smart contracts with other functions unrelated to assets.
Smart contract, a concept that was first initiated by Nick Sazbo in 1994, has a history as long as that of the Internet. According to Nick Szabo:Smart contract can execute contract clauses when the preprogrammed conditions are met.It is blockchain technology, due to its decentralization, immutability and highly reliable system that provides the very environment for smart contract to embody its value.
