NEO ICO's Causing Trouble
NEO Blockchain
NEO is a fantastic platform that allows for applications to be built upon it's blockchain ecosystem and use the supremely effective NEO currency to complete transactions. It is one of the first smart economy platform developed in the East, and is capable of supporting a multitude of vibrant and productive network's on it's blockchain. It is also in talks with Chinese regulators and stands a good chance of being China's sole provider of a blockchain application smart economy in the coming years, and is therefore slowly penetrating one of the most exponential markets for cryptocurrency and blockchain.
Bad Press
However these are not the reasons why NEO has been in the news recently, it is for the fact that a worrying number of the ICO projects launched of the platform have fallen short of expectations, not returned tokens or failed to even launch after an offering. The APEX ICO that was launched suffered a crucial website breach and the deposit address for NEO was changed so that hackers would receive the stolen funds of approximately 1056 NEO. Also The Key's ICO had a bad start too, with it's website crashing on users and then seeing it's token price inflate 300% before it's sale. And to top it off the ICO's telegram was spammed with disinformation, malware and also pornographic material.
But not all NEO's ICO's are prone to such negative attention, for example the Redpulse RPX ICO was successfully completed without a hitch and listed on exchanges not long ago. And even Ethereum's now highly developed and experienced team has encountered issues with ICO's into January, with Experty seeing over $150,000 lost in an exit scam on the Ethereum blockchain. The problem is therefore not with the blockchain being used to launch an ICO it's the team behind the ICO not providing relevant security(whether involved in scam or not), and the investors who haven't properly conducted researched into what they are investing in to make sure that it is a legitimate investment.
Bright Future
NEO is a blockchain platform that provides great value to businesses and institutional networks as it comprises the best aspects of a smart economy and makes it as efficient as possible for mass adoption and scaling. The team, token and technology behind the NEO project are rock solid and reputable, and will see that NEO has a successful future in itself, and successful ICO's. From a highly regulatory country like China you would expect a higher standard of audition for proposed ICO's on the NEO blockchain, but such mistakes are to be expected in a market without precedence and the team at NEO will use this as a valuable learning experience.
Check out this small post I did on NEO a while ago, and my previous post today!
https://steemit.com/crypto/@blockchainboom/neo-chinas-ethereum