NEM is a new crypto currency that also utilizes the blockchain protocol. It will deliver leading transaction rates for internal ledgers, and its program will ensure that NEM’s open, public blockchain can grow without comprising its stability. As we have repeatedly stated, blockchain technology offers an easier method of maintaining a secure ledger of transactions as compared to the normal database. The NEM Smart Asset System, according to Nem’s official site states: “The NEM Smart Asset System allows you to totally customize how you use the NEM blockchain. First, your Namespace defines your home on the blockchain where you can name your own Mosaics, provide easy-to-remember names to user addresses, and more. Mosaics then are the basic building blocks of Smart Assets that you can use to represent lots of simple things. … it could be a coin, a signature, a status update or more…. An address can simply represent a user, such as an account holder. But it can also represent an individual unique asset such as a document, or a song, or a package. You can then update that asset through configurable Transactions.” The blockchain is supported by nodes running NEM software. This protocol can be open, decentralized, self-supporting public blockchain or a permissioned private NEM blockchain running on one’s own servers. We found it interesting that NEM’s website would like users to work with them and/or ask questions regarding NEM by providing your name, email, and location.

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