NEM officially opened the NEM Blockchain Centre Kuala Lumpur on 3 July 2018. The new NEM Blockchain Centre will serve as a learning centre, incubator and accelerator for organisations in Asia keen to explore blockchain technology and its applications in multiple industries.
NEM Blockchain
Blockchain is gaining global traction in diverse industries including financial services, insurance, education, retail, telecommunications and logistics. Among its applications are automating accounting, medical and scientific records, international remittance, securities trading customer relationship management, notarisations and many more.
NEM is a blockchain platform (as well as a cryptocurrency). Written in Java and launched at the end of March 2015, NEM introduced a number of new blockchain features like Proof of Importance (POI) algorithm, multi-signature accounts, and encrypted messaging.
The NEM blockchain has already been adopted in a number of industries and services in Asia and around the world, including Appsolutely Inc., the largest rewards and loyalty programme company in the Philippines; a point-of-sale terminal for cryptocurrency for the retail industry (Pundi X) in Indonesia; and backend payment and mobile settlement solutions by Dragonfly Fintech Pte. Ltd., Singapore.
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NEM Blockchain Centre Kuala Lumpur
With almost 11,000-square-feet of space, NEM Blockchain Centre Kuala Lumpur is the largest of its kind in the region that is fully operated by a blockchain technology organisation. It will house :
- the NEM Blockchain Innovation Lab,
- a headquarters for research and development,
- regional support for organisations interested in using the NEM platform within their IT infrastructures,
- a co-working space for blockchain-related learning and knowledge-sharing events.
NEM Blockchain Centre Kuala Lumpur will allow organisations to explore how blockchain technology can help improve data transactions by enhancing speed and security at a lower cost than other current technology platforms. Malaysian organisations can leverage the NEM network and technology to develop blockchain solutions, with access to training events, service providers and technical support.
It will also serve as the headquarters for regional operations for NEM in Asia (excluding China and ANZ). The team will continue to pursue strategic alliances to expand NEM’s reach, secure deeper collaboration, and develop more blockchain hubs. US$5 million will be allocated towards supporting blockchain companies incubated in the NBC in Malaysia.
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