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How Recent NEM Updates Will Impact Its Future

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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

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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