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NEO is a non-profit community-based blockchain project that utilizes blockchain technology and digital identity to digitize assets, to automate the management of digital assets using smart contracts, and to realize a “smart economy” with a distributed network. NEO is a distributed network that combines digital assets, digital identities and smart contracts. The NEO system will use DBFT, NeoX, NeoFS, NeoQS and many other original technologies, as the infrastructure for the intelligent economy of the future. NEO has two forms of digital assets: global assets and contract assets. Global assets can be recorded in the system space and can be identified by all smart contracts and clients. Contract assets are recorded in the private storage area of the smart contract and require a compatible client to recognize them. Contract assets can adhere to certain standards in order to achieve compatibility with most clients. Digital identity refers to the identity information of individuals, organizations, and other entities that exist in electronic form. The more mature digital identity system is based on the PKI (Public Key Infrastructure) X.509 standard. In NEO, we will implement a set of X.509 compatible digital identity standards. This set of digital identity standards, in addition to a compatible X.509 level certificate issuance model, will also support the Web Of Trust point-to-point certificate issuance model. The NeoContract smart contract system is the biggest feature of the seamless integration of the existing developer ecosystem. Developers do not need to learn a new programming language, but can use C#, Java and other mainstream programming languages in their familiar IDE environments (Visual Studio, Eclipse, etc.) for smart contract development, debugging and compilation. NEO’s Universal Lightweight Virtual Machine, NeoVM, has the advantages of high certainty, high concurrency, and high scalability. The NeoContract smart contract system will allow millions of developers around the world to quickly carry out the development of smart contracts. NeoContract will have a separate white paper describing the implementation details.