Neurochain & the OPECST Report – NeuroChain – Medium

Neurochain & the OPECST Report

OPECST: Parliamentary Office for Evaluation of Scientific and Technological Options

Here is a quick summary of excerpts in which Neurochain is mentioned in the French Senate report titled ‘The Challenged of Blockchain’ by Senator Ronan Le Gleut and Deputies, Valéria Faure-Muntian & Claude de Ganay.

  1. This report was delivered to the National Assembly desk and that of the French Senate.

2. Dr. Bilal Chouli, founder and CTO of Neurochain explains the way nodes communicate in Bitcoin’s network.

3. Neurochain is pointed out as a unique type of blockchain. Notably different than the previous projects mentioned such as; IOTA, Zcash, Tron, EOS, Cardano and Stellar. One which is based on Artificial Intelligence, Machine Learning and in effect, the PII consensus.

4. Neurochain’s CTO, Dr. Billal Chouli and legal advisor Renaud Roquebert indicate the advantages of running an ICO and the disadvantages of pursuing traditional funding methods. They explain the hurdles of raising funds from banks and venture capitalists for a deep tech product. Some French financial institutions refusing to open bank accounts for companies taking the ICO route with the suspicions that have followed cryptocurrencies since their inception. It should be emphasized that ICOs should soon be
managed by the Autorité des marchés financiers (AMF), under the terms of the Bill on the Action Plan for the Growth and Transformation of Enterprises (PACTE), presented to the Council of Ministers on 18 June 2018.

5. Neurochain CTO, Dr. Billal Chouli and legal advisor Renaud Roquebert have their educational and work backgrounds presented. Again, the challenges of running a blockchain company in France are put forward.

6. Neurochain is praised for its KYC process during its ICO phase and is complimented with doing a better job than current traditional methods used by banks.

7. The problem with the speed of a public blockchain and Neurochain’s solution.

8. Neurochain is seen as a solution to the environmental and concentration problems of Proof-Of-Work in China, USA and Russia.

9. Neurochain’s experience dealing with traditional investors who found the product to be too technical. Similar projects had major difficulty finding a bank who would open an account for them because they were going through or had gone through the ICO route to raise funds. A conclusive statement about why and how France could become an ICO-friendly hub for future blockchain startups.

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Hayden P.

A blockchain and cryptocurrency enthusiast

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