NEO have released the following statement regarding the restructuring of the NEO Council.

During his speech at the Amsterdam conference on April 14th, 2018, Da Hongfei announced NEO would be adopting a new organizational structure. Following a period of trial operation, we are now convinced of its feasibility. Here is an official announcement on NEO’s new structure:

The NEO Council has been officially reorganized into the NEO Foundation, co-chaired by Da Hongfei and Erik Zhang, both of whom shall execute decision-making power.

The two units solely funded by the NEO Foundation are NEO Global Development (NGD) and NEO Global Capital (NGC). NGD, dedicated to technological R&D, community operations and marketing, will execute strategies outlined by the NEO Foundation. NGC, the Singapore-based for-profit licensed fund management company will act as the investment platform to empower high-quality blockchain projects. Though NGC is solely funded by the NEO Foundation, the funds under its management may have other limited partners.

The NEO Foundation will also be an early sponsor of a non-profit organization whose purpose is to enhance academic research on state-of-the-art blockchain technology. This organization is independent of the NEO Foundation and open to all industry practitioners.

We hereby clarify that the structure specified above took effect as of April 1, 2018.

NEO Foundation

The announcement can be found here: