NEM – the New Economy Movement – is set to launch in November , after almost nine months of development. Striving to create a new cryptocurrency economy based on the principles of financial freedom, decentralization, and equality, united together in solidarity, NEM is supported by a strong community of over 3000 stakeholders and is already listed on the NXT AE (Asset Exchange), where NEM stakes far exceed the number of trades of any other asset listed there. NEM is not only a peer-to-peer cryptocurrency, in the lineage of Bitcoin, but rather, it is a highly transformed model of the blockchain technology to create an ecosystem instead of just a mere “Altcoin” alternative to Bitcoin. It has a fair distribution model, 100% original codebase, and important advancements in the underlying technology. The ecosystem is based on a new algorithm for transaction verification called Proof-of-Importance. This is an evolution from Bitcoin’s Proof-of-Work and the Proof-of-Stake algorithm that are used by other coins. The resulting outcome is a superior blockchain management solution that requires low energy and is thus environmentally friendly. The NEM Beta goes live in September and more than 12 developers are working tirelessly to roll out the first cut of the NEM ecosystem by November. NEM emphasizes the importance of a synergetic ecosystem ecosystem, where innovative technology is the stepping-stone for a better tomorrow; decentralization and democracy are embraced, and centralized powers are minimized.
Extensive ownership of high-powered machines or a large store of NEM coin value will not impact the distribution of NEM coin harvesting (mining). The unique Proof-of-Importance algorithm will reward nodes that are the most important to the NEM economy, not those who have the largest amount of NEM. This encourages adopters to spend NEM and discourages hoarding, thus increasing the velocity of money. This type of distribution eliminates the myriad of problems associated with traditional mining, such as extreme price fluctuation on exchanges, deflation, massive energy expenses, and centralization. Proof-of-Importance was designed based on the premise of “having a simple machine will do,” so long there are active transactions and network connectivity on that node. This advanced technical property of NEM ensures a fair distribution as it allows anyone to participate, which is the very core of the ideology of NEM.
The NIS and NCC completion is just the first step in the launch of the NEM ecosystem and technological road-map: new features like faster and parallel blockchains, high frequency exchange trading, real-world financial integration (e.g., stocks, derivatives, options, forex, etc.), social media and social networking, enhanced and yet easy-to-use mobile applications, and many more advancements are expected to be rolled out in subsequent stages, thanks to NEM’s flexible platform.
As the NEM team explains:
“The world we live in could be made better. We could make trade and finance fairer when we use a decentralized currency and reduce the influence of the established capital. We could prevent the corruption of centralized power when we embrace grassroots movement and decentralization. We could support the principle of equal opportunity to give all people a fair chance in life. We could transform the boss-employee hierarchical relationship in most conventional working environments to one where people are partners and friends and making decisions in a democratic fashion. NEM community advances its ideas and projects via Nemcoin premier decentralized technological platform.”
NEM will be created with a maximum of 4 billion units, divisible to 6 figures after the decimal, giving a smallest unit of 0.000001 NEM. Of this, 75% has been fairly distributed, while the remaining will be used to finance the development of the ecosystem post launch of V1, which is expected to be several months after the initial launch.
The NEM ecosystem in summary:
“NEM is an ecosystem more so than a mere altcoin that provides a platform that easily encompasses most of the offerings out there in the current crypto economy. It is an ecosystem with a platform that provides anyone with the ability to operate a Coinbase-type of solution, an exchange, a Ripple or Stellar solution, a contract, a stable currency, a colored coin, an application specific solution, an enhanced and encrypted messaging solution, social media and a social network. In fact, NEM ecosystem is a revelation that will change the way we do commerce, trade and finance in the future where sovereign and global governments can make use of to run their economies almost entirely.”
A crowd sale event will take place soon to hasten the development of mobile devices and other ecosystem projects. This shall be taken as a parallel exercise and integrated into the development of the ecosystem. The crowd sale shall involve selling 1 Oz. 0.999 Pure Silver rounds and 1 Oz. .9999 Pure Gold rounds with NEM branding and attached cold wallets containing NEM. The announcement shall be made on the website as shown at the end of this press release.
For more information please visit: Ournem.com
NEM official bitcointalk thread: https://bitcointalk.org/index.php?topic=654845.0
* This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest. Please conduct your own due diligence.