NEO was ranked 4 out of 28 in a report issued by China’s Ministry of Industry and Information Technology. The top five cryptocurrencies in order of rankings were Ethereum, Steem, Lisk, NEO, and Komodo.

This report by Bejing’s Ministry of Industry and Information Technology ranked the cryptocurrencies using three indexes: “technology,” “application,” and “creativity.” NEO was ranked 69.2 on the index of “technology,” which was close to the average of other coins, and was ranked second to last on the index of “creativity.” NEO, however, was ranked first on the index of “application,” doubling the score of cryptocurrencies like Bitcoin, Waves, Cardano, and other coins.

CoinTelegraph reports that “first-rate domestic experts and scholars” contributed to the ratings, and that the analysis has been named the “Global Public Chain Assessment Index.” Its goal is to “evaluate the technological capability, the usefulness of the application and the innovativeness of the project, and the development level of the projects to profoundly understand the trend of blockchain technology innovation.”

The reasoning behind the creation of the index was due to a “lack of completely independent assessment/rating” for crypto assets and blockchain projects.