NEO is a blockchain-based non-profit project, which was launched in 2014 under the name Antshares by its founders Erik Zhang and Da HongFei. In July 2017, the project was renamed into NEO. While Antshares focused on digital assets, the rebranding has also shifted the company's focus to smart contracts. NEO involves the use of blockchain innovations and digital identification to digitize assets and automate the management of digital assets using smart contracts. The project team seeks to transform the traditional economy into the so-called “smart economy”, which will include three key elements: smart contract platform, new digital asset model, and blockchain-based structural identification. The project supports various types of digital assets and allows users to carry out registration, delivery, and asset swapping in the NEO system.