NEO is a blockchain-based platform that aims to create a smart economy by integrating digital assets, digital identity, and smart contracts. It was founded in 2014 by Da Hongfei and Erik Zhang and was initially called Antshares. In 2017, the platform was rebranded as NEO, which stands for "new, smart, and open." NEO is often referred to as the "Chinese Ethereum" because it shares many similarities with Ethereum, such as the ability to create decentralized applications (dApps) and smart contracts. However, NEO has some unique features that set it apart from Ethereum, such as its consensus mechanism, which uses a delegated Byzantine Fault Tolerance (dBFT) algorithm that allows for faster transaction processing and higher scalability.

One of the main advantages of NEO is its focus on regulatory compliance. The platform is designed to be compliant with existing regulations, which makes it more attractive to businesses and governments that are hesitant to adopt blockchain technology due to regulatory concerns. NEO also has a strong community of developers and supporters, which has helped to drive innovation and adoption of the platform. Overall, NEO has the potential to become a major player in the blockchain space, especially in Asia, where it has a strong presence and support from the Chinese government.