NEM (XEM) Cryptocurrency Review – New Economy Movement

NEM (XEM) Cryptocurrency Review – New Economy Movement

NEM (New Economy Movement) wants to offer: a blockchain platform that businesses can easily pick up and use to integrate blockchains with their existing setup.

The best way to think of NEM is that it’s THE Japanese version of Ethereum. Like Ethereum, NEO, and Waves, NEM is actually a blockchain-based platform for financial services that includes a cryptocurrency.

NEM is designed to be modular: it can be configured to work with smaller applications, or even just parts of certain applications. This way, a business doesn’t need to rebuild all its infrastructure just to make it compatible with the blockchain.

Like Ethereum, the NEM blockchain is supposed to work like the internet providing both data storage and data transmission. NEM’s creators hope it will become compatible with existing mobile apps, business infrastructure, and computer programs.


The NEM project began with a cryptocurrency spun off from NXT, another altcoin in 2015. During the fork, the NEM developers decided to rebuild the cryptocurrency as an Ethereum-like solution.

The cryptocurrency used in the NEM blockchain is called XEM. A good way to think of XEM is as a piece of software that operates on NEM’s operating system. Like Ethereum, XEM can be used on or off the NEM blockchain and traded or bought and sold like other altcoins.

Until now, only businesses with specialized engineers and developers on contract could work with blockchain technology. Now, with a platform like NEM, the world of blockchains are being opened up to those who weren’t able to take advantage of it before. With ease-of-access, a developer-friendly setup, and the promise of quick transaction speeds and different features like multi-party signatures, NEM could very well become the best business-oriented blockchain network in the game.

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