NEM (XEM), a modern day cryptocurrency is on its 3rd year of operation and currently making major moves within the crypto sphere. The blockchain platform offers a wide range of services for crypto enthusiasts, these include customizing assets and multi-sig accounts for the new ‘digital ledgers’ era!
Apart from progress in its fundamental value, NEM has been venturing new markets via CSR activities and joining blockchain/crypto related bodies since the beginning of 2018. The altcoin is currently a top 20 digital asset in market cap with a significant $1.089 billion, approximately 0.4528% of the total cryptocurrency markets.
Carbon Digitization via the NEM platform
Environmental concerns will soon be part of the issues addressed by the blockchain technology, NEM (XEM) network seems to be a popular choice for the industry players at the moment. Xarbon, a sustainable tech company that deals with the reduction of carbon emissions is one of the parties interested with the NEM blockchain. The company is responsible for reducing roughly 200 million carbon tons hence protecting a big part of the world’s rainforest.
At the moment, Xarbon is mainly focusing to preserve the rainforest found in Papua New Guinea from further degrading as a result of carbon emissions. Therefore, the company has bought the carbon assets which are traded in international markets. Basically, countries with excess carbon emissions buy the capacity to continue with production from nations that are yet to meet the carbon limit standards set across the world.
Xarbon’s plan is to then hold the carbon assets within its reserves for integration with the NEM blockchain instead of reselling it in the market. This will in turn improve the ecosystem of the carbon assets market by increasing liquidity and making the whole process efficient and transparent.
NEM joins the Blockchain Research Institute (BRI)
The growing rate of adoption in blockchain technology has seen companies patent a good number of projects since 2017. Amazon and IBM are the top two institutions in the number of blockchain-related patents as of press date.
Blockchain Research Institute, a popular driver for the crypto industry recently added NEM and other companies to its body. Today, the institute’s membership consists of around 70 participants ranging from government wings to enterprises. Procter & Gamble, Cisco and Exxon mobil are among the new shortlisted members.
The blockchain-related companies included in this new membership are; NEM foundation, Huobi coin exchange, SpaceChain and Medicalchain. All of the above projects are solving industry specific inefficiencies using the blockchain network. NEM will now be able to scale its access to crypto and blockchain related research via proprietary access rights that come with the membership. In addition, NEM will have more access to crypto market movers via events and the likes.
BRI plays a vital role in blockchain adoption. Access to independent research across different verticals allows the NEM Foundation to keep NEM technology aligned to industry needs. We are delighted to join the BRI members network to help bring blockchain adoption to the next level.
– Kristof Van de Reck, Interim President, NEM Foundation
NEM’s Upcoming ‘Women in Blockchain Asia’ Initiative
In a male dominated arena,NEM (XEM) is targeting to change this statistic going forward with the debut in Kuala Lumpar. The foundation will kick of the blockchain week in Malaysia with a focus on integrating more women into the crypto space via a partnership with an NGO whose activities aim to empower women. Besides creating blockchain awareness for Malaysia’s prosperity, NEM will also touch on how the tech can improve P2P interactions across the globe. The project remains a strong force within the crypto space and a probable cash cow for HODLers if a market price correction happens in the future!