On 26 June, NEO Global Development (NGD) officially launched the first phase of the much-awaited EcoBoost Program. NGD first announced plans for the development of the program in May, at Consensus 2019.
NGD founder Da Hongfei decided to drop some hints about this new project at the event; however, NEO started releasing details just recently. According to the latest updates, the EcoBoost Program will be divided into three separate phases, each of which will focus on a major aspect of the development of the project.
The main idea behind the EcoBoost Program is to help NEO-based projects and developments to secure funding. Any kind of project, be it decentralised applications, infrastructure developments or builder’s tools. Ultimately, NGD is aiming to boost the overall improvement of the NEO ecosystem.
The full implementation of the EcoBoost Program is divided into three separate phases so that NGD can pay special attention to each important aspect of the project.
Partners - phase one
Phase One is the introductory part of the program, which aims to attract partners related to the blockchain and decentralised ledger industry to the project. These partners will, later on, provide support to participants in the program. The main areas where partners are needed are media, universities, wallet providers and dApp popularisation platforms.
This is a major part of the project as all industry-related partners will be able to provide specialised help to the participants in the EcoBoost Program. Media and outlet partners will be able to help spread the news when a new project is developed through the program, universities and developers will be able to provide technical advice and support, while wallet providers will help with the execution of any potential tokens.
While NGD reports that it has already received a number of participation requests from leading names in the industry, the company will still be looking for new relationships during this first phase of the project. According to the EcoBoost Program announcement, partners will benefit from “strong support” and a long-lasting relationship with NGD and the NEO ecosystem.
Project Registration - phase two
Phase two of the project is still some time away, however, NGD has released a preliminary description of the focus of this stage of the EcoBoost Program. Phase two of the project will commence once NGD is satisfied with the number and variety of partners secured during phase one.
Along the course of phase two, NGD will start actively looking to attract projects, which will be the core of the whole EcoBoost Program. These will be the entities benefiting from the support of both the NEO ecosystem and the partners secured during phase one.
An important note regarding the second phase is that each project will be awarded a different amount of funding, depending on the needs, goals and plan presented during the application process.
Complete Launch - Phase Three
Once the first two phases are completed, the EcoBoost Program will be ready for a full launch. Phase three is essentially the successful implementation of the ideas behind the whole project. It is not supposed to have an end date, and in fact, this should be the final section of the entire program.
During phase three NGD will help connect projects and industry partners so that work on new developments can begin. For example, decentralised app developers will be provided with connections to partnering exchanges and wallets, while research and development teams will be linked to interested universities.
Exciting new opportunities
The EcoBoost Program is a huge development in the blockchain industry as it aims to connect developers and possible sponsors. Once the program reaches phase three, many enthusiastic innovators will have the opportunity to make their ideas come to life with the help of industry leaders. NGD has presented an ambitious plan, and if they manage to implement all phases of the project, this will bring a revolution to the blockchain industry.