Typical of blockchain systems to dedicate their service to any one type of system that works and they would also love to solve lingering problems, proffer real live solutions and help advance the way things are done hitherto. Not many projects in the blockchain are dedicated to solving business problems nor attempt to improve upon the working principles behind enterprises and businesses. One type of blockchain that has set their focus more on enterprise and business growth is the NEM foundation.
NEM is the global brand on the blockchain that focuses more on enterprise solutions since early 2017. It is set on a course to fulling its core purposes as it releases tools that are aimed at enhancing the operations of enterprises and businesses, topmost of this is the release of Symbol an enterprise-ready blockchain this year.
Symbol network is created to be the connector between businesses, developers and individuals making enormous possibilities available. The right tools and environment is an essential ingredient for the success of most businesses. NEM recent developments will see to these various essential attributes added to aid users.
Once more NEM solidifies itself as a user-centric blockchain relying solely on the power of the community which is believed to be the true spirit of the blockchain. Blockchain ecosystems that do not adopt the true decentralized governance system go against completely what the blockchain stands for. Further strengthening the community, the satisfaction of the business community expectations will be realized within the Symbol ecosystem.
Businesses are expected to thrive if some necessary conditions are met, some of these include but not limited to;
● Creating value together: Business thrives when the key players thrive together. In a world where we have all of the players in unison, the developers, enterprise, and consumer/user, it is not surprising to witness the healthy growth of any business that would be built therein.
● Increased security: Nothing beats having a relaxed mindset in business especially in areas that deal with storage of data. Backed by the NSI1 blockchain which has never experienced a 51% attack nor has ever experienced downtime since its creation, a trusted public ledger for enterprises, Symbol guarantees its users the safety of data. The contract plug-in framework makes Symbol more resilient to human error and network attacks.
● Speed and efficiency: Lagged network is frustrating on a lot of fronts. It could lead to business failure, customer/client irritation, and possibly the loss of clients due to distrust and bad experiences. Backed by the NSI1 blockchain Symbol will ensure all of that is well taken care of.
● Openness and Collaboration: Collaboration as against competition is the new normal in the world of business, much more effective, positive, and growth inclined when compared to the competition that could be draining in all ramifications. In Symbol, businesses have the unique advantage of collaborating with like minds and associated enterprises achieving the same goals in a transparent and friendly environment.
The upside of the Symbol network over all other existing solutions is super enormous, the upside definitely outweighs the downside. NEM foundation is run by the community, many of whom are industry experts and original members. There have been qualitative developments in the life of the project many of which are 100% community-driven for example long before the popularity of proof of stake concept currently touted by world number 2 blockchain Ethereum scheduled to be released in its 2.0 update, NEM have already cemented its position as the leading blockchain making use of the POS consensus mechanism.
NSI1 was home to one of the world’s first non-fungible assets, supply chain applications for luxury products, and in-built multi-sig features, in compliance with the tokenization of assets, which is resulting in businesses ability to carry out proper STO on the NEM platform. A notable example of a security token on Symbol is the LBCoin initiatives in collaboration with the bank of Lithuania. Partnership with VNX exchange has also been secured to allow for waves of STO that’s expected to rise with increased tokenization in the Symbol network.
Another intelligent approach of the NEM Foundation is in bringing together all of NEM social community members for the purpose of solidifying unity, discussions, and decisions based on the development of the platform with a view on rewarding active and quality participation. This hub is powered by DaoMaker, Britain’s brilliant accelerator platform that has made social mining quite commonplace in the blockchain today.
Users will be required to connect their social platforms like Reddit, Youtube, Twitter, and Facebook into the mining platform before use. Safety precautions are applied as user’s data are expected to be super safe away from hacks and attacks.
Kindly note that participants of the NEM social mining activities will have to be holders of the XEM coin. Connecting to the social mining platform is super easy without any complexity of any kind. Try connecting to the social mining platform by learning how it works.