Neo began life as AntShares (ANS) in 2014. AntShares, founded by Da Hongfei and Erik Zhang, has been referred to as ‘China’s first blockchain platform’. In 2016, supposedly in response to growing interest in AntShares, and a need for blockchain solutions that meet the requirements of both government regulators and private companies, Da and Erik founded OnChain, a venture-backed company that provides blockchain-based financial services. In 2017, AntShares was rebranded as Neo.
Neo and OnChain are based in Shanghai. It’s certainly the case that Chinese regulation can have far-reaching effects on cryptocurrency markets and development. Neo is equal parts vulnerable to and well-positioned to inform and cooperate with Chinese oversight.