How Recent NEM Updates Will Impact Its Future

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 25^th 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