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ECONOMY

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Neo and Bee: Paving a New Way

Neo and Bee: Paving a New Way

By Chloe Panayides

 

“Welcome to the ‘Neo’ economy,” George N. Papageorgiou, Operations Director of Neo and Bee, confidently declared to some 250 attendees of the Cyprus Investors Show 2014.

 

And what is this new economy? 

 

Bitcoin: decentralised by design; independent of banks and financial institutions; an emerging new cryptocurrency in an ever-intensifying digital age.

 

Papageorgiou noted that the value of Bitcoin has increased by 8,900% in 2013 alone. Yes, 8,900%.

 

So how does it work and what role will Neo and Bee be playing in this seemingly transformational monetary game?

 

Neo and Bee provides financial services for the adoption of Bitcoin, with the overriding intention, Papageorgiou says, being the relocation of power: putting clients’ control of their money firmly back in their own hands. 

 

In keeping with this, Neo and Bee clients receive ‘e-wallets’ and ‘Neo cards’ permitting online Bitcoin transactions, devoid of a central authority. Papageorgiou likens it to two people being able to exchange ownership titles, with no-one intervening along the way.

 

Indicative of the intensifying demand and the changing tides of online use in general, Papageorgiou noted that whilst 26% of the world’s 6.8 billion-population were reported to be ardent Internet users in 2010, this percentage is predicted to jump to 66% of 7.6 billion come 2020, thanks to developing markets.

 

With an increasingly global world, in which freedom of movement is developing, Papageorgiou believes that the market is ripe for disruption, with a need to offset the ever-soaring charges imposed for the international use of credit and debit cards.

 

He maintains that operations such as Neo and Bee, which service the Bitcoin user, will become more relevant and pivotal in permitting free local and international transactions.

 

And why has Neo and Bee chosen Cyprus as its base?  In answer to this, Papageorgiou reiterates the key goal of Neo and Bee: that of putting the control of money back in the owner’s hands. 

 

Referring to the events of 2013, Papageorgiou believes that Cyprus has a clear understanding of what it means to be master of your own money.

 

So, Neo and Bee aspires to fulfil this via several channels, spanning Neo, Bee, Neo Easycoin, Neo Exchange, and Cryptocurrency Portfolio Management.

 

Neo is hailed as being the first physical exchange and safekeeping service operating with Bitcoin. Customers can have balances either in bitcoins (and take advantage of their rising exchange rate), or enjoy the safety of a Euro-pegged account (and be protected from Bitcoin volatility).

 

In either case, the bitcoins are kept safe and protected, as Neo cannot access them without the customer's consent.

 

The Bitcoin network is praised for being a frictionless system of transactions, with instant settlement times. The Bee network operates with Bitcoin and allows merchants to have zero transaction fees and immediate clearing of their funds, either in Euros or bitcoins. 

 

The Bee network is not a closed system like conventional payment systems, but can accept payments and interact with the global Bitcoin network, thereby opening the doors of merchants to a global customer base.

 

Neo Easycoin is to serve as a fast and easy method of buying crypto-currencies with cash throughout most of the USA, EU and Russia, with a focus on minimal hassle and maximum security. 

 

After a simple registration process, users can purchase crypto-currencies by depositing cash seamlessly via an extended cash payment network, enjoying immediate access and convenience.

 

Meanwhile, Neo Exchange is an online trading platform intended to couple cutting-edge security, speed and functionality with the know-how, expertise and infrastructure from all Neo and Bee’s operations. 

 

The platform will offer live 24/7 trading and will be accessible globally to registered users. 

 

Finally, the Cryptocurrency Portfolio Management is an investment management service to brokerages and private investors that capitalises on the opportunities available in Bitcoin and the budding crypto-currency marketplace. 

 

Neo and Bee professes to have a unique understanding of the dynamics of the marketplace, current developments and challenges, as well as being fully aware of the idiosyncratic trading behaviour of this asset class, and therefore Neo and Bee aspires to offer expert investment advice for all risk appetites.

 

Papageorgiou asserts that, overall, at the core of Neo and Bee’s practice, lie innovation, safety, and security, with an emphasis on the breaking down of barriers to a groundbreaking degree.

 

According to Papageorgiou, this is only the tip of the iceberg: the ‘Neo’ economy has just begun.

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