Industry Group


NEM stands for the “New Economy Movement” The platform wants to create a sustainable economy, guarantee financial freedom, and focus on values such as equal opportunities and self-determination. NEM has its own cryptocurrency, called XEM. Though XEM is not being used by merchants as a means of payments as bitcoins are, XEM has nonetheless grown significantly in value and currently has the twelfth-highest market cap among cryptocurrencies.The XEM coin is one of the older batch of cryptocurrencies on the market, and the NEM blockchain was created well before the 2017 ICO craze. NEM evolved in March 2015 as a fork-out version of the NXT, another popular blockchain-based virtual currency and payment network platform. The platform is operated by a Singapore-based non-profit organization called NEM Foundation.