Neo Blockchain Founder Says 'Obscure Regulatory Landscape,' 'Lack of Mass Adoption' Are Major Deterrents For Web3 Developers

Erik Zhang, founder of Neo NEO/USD blockchain, highlighted on Friday the significant challenges faced in drawing traditional developers to the blockchain realm, even as he emphasized the "obscure regulatory landscape" and the "lack of mass adoption" as primary deterrents.

In an interview with Benzinga, he also delved into the unique opportunities and support mechanisms Neo offers to developers and Hong Kong's emerging role as a global blockchain talent hub.

Supporting Developers In Bear Markets: Zhang emphasized the importance of community and collaboration for developers, especially during bear markets. "By actively participating and contributing, developers can establish mutually beneficial relationships with fellow builders."

He also mentioned the role of the Neo Foundation in supporting developers, noting that it offered "funding opportunities and grants for projects developing in the Neo ecosystem," he said.

Hong Kong: The Emerging Blockchain Talent Hub: Zhang shed light on Hong Kong's strategic move to position itself as a global blockchain talent hub.

He attributed this to Hong Kong's rich history in capital and investment and its vision to become a hub for digital asset trading based on blockchain technology.

"Hong Kong is emerging as a pioneer in regulated crypto trading," Zhang remarked, highlighting the city's ambition to be an international crypto hub.

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Challenges in Attracting Traditional Developers: Zhang also discussed the hurdles in bringing traditional developers into the blockchain space.

He pinpointed the "obscure regulatory landscape" as a significant deterrent, noting the complexities of navigating legal frameworks across different jurisdictions.

Additionally, he touched upon the challenge of "lack of mass adoption," stating that traditional developers might be hesitant to venture into a space that hasn't achieved mainstream recognition yet.

He remained optimistic, citing Hong Kong's progressive approach to Web3 and crypto regulations as a beacon of hope.

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