With the inherent shortfalls that have been experienced from older cryptocurrencies, NEM (XEM) surpasses them all by offering the modern day scalability, user friendliness, user rewards and efficient power usage in mining. NEM is acronym for New Economy Movement and is living to its name.
The modern digital currency user is looking for an alternative coin that is easy to use, affordable and solves their daily life issues. Many institutions have to appreciate what the blockchain technology can do to the business operations and are embracing what NEM has on offer.
Where NEM (XEM) is Being Used
Baking institutions have realized the benefits of the blockchain technology and have chosen NEM as their natural platform. NEM helps banks and other financial institutions as a method of assets settlements. Banks will benefit from the smart contract technology.
Leading banks in japan, the US and India are already using NEM (XEM) services and the results are proving beneficial to both the provider and user. The NEM package is secure, reliable and fast which gives the industry an upper hand in enhancing consumer experience.
To capture the needs of the banking industry, NEM has repackaged its services under Mijin. This is a protocol that allows enterprise applications be built on the NEM ecosystem to help reduce the cost of doing business by almost 90% with enhanced secure transactions.
The NEM Mijin function allows developers to create their own blockchains that can securely store and distribute data. This has seen the peer-to-pear blockchain attract many partners to drive the value of XEM to new heights.
Is the current NEM (XEM) Price Reflective of its Goals?
NEM (XEM) is currently ranked 15th by market capitalization in the coin category and has been trading on the green for the last 7 days. The coin seeks to offer a platform that connects the blockchain to banking institutions to enable the user get value for their money. Lowering the transactions fee and securing transactions targets mass adoption.
The coin hit a high of $1.90 early January and its price has significantly dropped to a low of $0.235281 at the time of writing. This is not an isolated case but the market slump which has affected all the coin. With the market recovering, XEM seems to be one of those promising coins to hit the $1 market before the end of 2018.
XEM has remained dormant for some time before the price started surging in 2017 with increase in trade volumes and market cap. Early January, the coin was billed as one of the best performers in the Altcoin category and has remained on the rise soon after the market crash. This positions the currency as the future favorite not only for the banking industry but other players as well.
The Bright NEM (XEM) Future
With the growing interest from the banking sector, NEM is shifting its focus to real estate, the gamed development industry, manufacturing and middle level startups. NEM permits users to create customized blockchains on its network to solve specific problems.
Through the applications development function, the platform has increased the number of supporters with more expected to adopt before the end of the year. A low transactions fee is one of the reasons why the platform is attracting more users.
NEM is not mined but harvested and participants in the process are only rewarded for their contribution. The rewards are derived from the platforms fees and the reward process, proof-of-importance, has proved very practical and will drive the coin value higher in the coming months.
NEM (XEM) future is clearly cut, the need for customized app development keeps rising and users are looking for a platform that is secure and prices are near zero. NEM seems to be their natural choice. However, the future value of the coin is pegged on its demand and this can only be spurred when spend ability-increases.