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How Recent NEM Updates Will Impact Its Future

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NEM

North America has control over a large number of global industries like insurance sector, financial sector, pharmaceutical and healthcare sector, supply chain management and the showbiz industry which includes sports. These sectors need a cost-effective way to handle and substantiate volumes of data in a safe and indisputable way. All conglomerates operating in these industrial sectors are projected to be playing a crucial role in integrating blockchain technology in the next few years. Thus the question arises regarding which blockchain technologies are likely to become the leading contenders for adoption by corporate enterprises.

NEM blockchain technology

NEM enjoys a huge competitive advantage over other cryptocurrencies. NEM is equipped with the technology to make this possible since the platform it operates on, is just perfectly conducive for business transactions. Thus NEM is the most convenient and secure blockchain network for corporate developers and organizations. NEM’s blockchain platform of NEM was coded and designed to facilitate both speed and scale. The private blockchain offers superlative transaction rates for internal ledgers. The modular Smart Asset System that NEM uses helps business enterprises to establish a remarkable array of real-world applications. Businesses use the inbuilt features of NEM to define and connect their Smart Assets, thus enabling the representation of any system of business transactions on the blockchain. The NEM Foundation is slated to announce collaborations with leading American companies which will be backing the steadily expanding community of developers and partners of NEM.

NEM to develop a partnership with Blockfolio signal Beta

On 25th June, NEM announced a collaboration with Blockfolio. Blockfolio is one of the most prominent cryptocurrency portfolio trackers. Anyone following XEM in Blockfolio will be receiving real-time updates and notifications starting from news and product updates to weekly proclamations from the interim president of the NEM Foundation, Kristof Van De Rock. NEM plans to make crucial announcements in the future through Blockfolio such that the level of awareness and activities elevates not just in the NEM community but throughout the entire cryptocurrency community. As per the request of NEM, Blockfolio is incorporating a localization feature. This feature would enable you to get updates and real-time notifications translated in the language of whichever region of the world you are in. This is an important step for the NEM community since the majority of the NEMembers is based in Japan, Philippines, and other Southeast Asian nations. The number of members of the NEM community is rapidly growing in areas like Russia and South America as well.

The integration and implementation of blockchain technology are projected to rapidly surge over the following year, thereby opening several opportunities and avenues with it. NEM is cashing in on these opportunities now by consistently collaborating with key partners like Blockfolio and making investments in regions like North America. Blockfolio will play an instrumental role in enhancing communications within the NEM community. However, Kristof Van De Reck aims to take further steps in escalating the flow of information within the NEM community. Hence he is initiating the launch of a new weekly blog post every Friday in the NEM Forums. These blog posts will be emphasizing on crucial announcements coming from the NEM foundation.

Participation of NEM team at the United Nations

Very recently, the NEM team participated in the blockchain for impact event held at the United Nations in New York. This event witnessed the participation of leaders from governments, industries and technology enterprises in the exploration, innovation, co-creation, and promotion of blockchain technology. The objective of this event was to put emphasis on solving real-world problems and come up with initiatives that would have deep and positive impacts at a social level. NEM’s team represented the technology of the cryptocurrency and gave insightful inputs regarding how NEM can contribute and add value to these social programs. Major agendas were announced at the United Nations for the adoption of blockchain technology and DLT (Distributed Ledger Technology) as a means to initiate and provide support to sustainable development within the year of 2030. NEM team is confident that the crypto will play an instrumental part in attaining this goal.

Conclusion

As of 27 June, NEM is trading at a price of 0.150290 USD, with a market cap of 1,352,610,000 USD. It is currently ranked 18th as per coinmarketcap.com. Currently, there are too many cryptocurrencies and technology platforms competing within the blockchain industry. The demand for blockchain technology is increasing at a staggering pace across a wide spectrum of industries. Hence the potential market of blockchain technology, especially of coins like NEM, is huge.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Shiratski via Flickr

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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