New Economy Movement or NEM is a dual-layer blockchain platform that tries to compete with other blockchain 2.0 platforms for various use cases, including supply chain management, records keeping, asset tracking, or new token issuance. NEM is one of the more popular altcoins with a decent amount of supporters and users. With this article, we will explore major NEM partnerships and integrations.
So, without further ado, let’s analyze major NEM partnerships and collaborations.
Partnerships and Integrations List:
- FIX Network (source)
- Pundi X (source)
- Tech Bureau Corp (source)
- Travala (source)
- TravelByBit (source)
- Dragonfly FinTech (source)
- LuxTag (source)
- Sumeru (source)
- PortalNetwork (source)
- Dtk.io (source)
- Asta Solutions (source)
- RapidQube (source)
- He3Labs Consultancy & Development (source)
- GUBI (source)
- KeySafeBank (source)
- Las Vegas’ Kind Heaven’s Entertainment (source)
- Taylor’s University Malaysia (source)
- AENCO (source)
- Gifto (source)
Detailed List Of Partnerships And Integrations
1. FIX Network
In March 2020, NEM has announced a new partner, which is the Israeli-Lithuanian telecom startup called FIX Network. The aim of the partnership is to increase security and data protection for cell phone users as well as to solve the problems with SIM swapping. Thanks to this partnership, FIX Network will adopt SYMBOL from NEM's enterprise-grade blockchain into its own mobile phone infrastructure. The mission from this collaboration is to secure 8 billion SIM cards from the threats of cybercrimes with new type of management and security solutions that NEM provides.
2. Pundi X
Pundi X is a moderately popular altcoin project that tries to bring crypto adoption to the mainstream space. Their most popular product is their Point-of-Sale (POS) device called XPOS. The idea is that they provide XPOS devices to retail stores so the merchants can easily accept crypto payments (through these XPOS devices) and convert them instantly to fiat.
Pundi X has collaborated exclusively with NEM to create a very particular XPOS device dedicated for NEM. Pundi X vice president herself promoted this collaboration through interviews and public statements.
3. Tech Bureau Corp
Tech Bureau Corp. is a blockchain company that has developed Mijin. They have openly admitted to use NEM technology for its Crypto-Fintech lab. For your information, Tech bureau Corp. is the same company that runs a crypto exchange called Zaif. This cooperation is featured exclusively by NEM foundation on its website.
Travala is a well-known flight and hotel booking website among crypto enthusiasts. Travala users are able to spend cryptocurrencies on various flights and hotels. Fortunately, XEM (NEM's native cryptocurrency) can be used on flights and hotels listed on Travala website. Not only that, XEM token holders can also get up to 40% discount over two million hotels in 230 countries if they spend their XEM coins on Travala.
Just like Travala, TravelByBit also promotes an idea that people should be able to book flight tickets and hotels with cryptocurrencies. TravelByBit allows Bitcoin and top altcoins to be used in its platform - where you can choose thousands of different flight routes and airlines. They handle the crypto-to-fiat conversion. Fortunately for NEM and its community, XEM coins are also accepted on TravelByBit website.
6. Dragonfly FinTech
Dragonfly FinTech is a platform service that tries to tap into international settlements and payments. It tries to break SWIFT monopoly in the wire banking ecosystem and its weapon is to use cryptocurrencies for remittance. It's basically similar to what Ripple's RippleNet and IBM Blockchain World Wire are trying to do with the crypto technology.
DragonFly utilizes concept that's known as "Real Time Transaction Settlement" and it chooses NEM blockchain to fulfill its vision.
LuxTag is basically a startup that tries to improve real-life notarization certification to fight the ongoing issues with brand counterfeits. LuxTag utilizes blockchain technology in order to achieve its goals. While ongoing anti-counterfeit solutions already utilize technology such as QRs and NFC tags, but LuxTag believes these solutions are simply not enough to combat counterfeits. LuxTag utilizes NEM blockchain to improve its certificates and efficiency.
Sumeru is an international cyber security and data analytics service company. It is also tries to offer cloud-based solutions to its clients. As an open-minded company, Sumeru is also exploring blockchain technology to see the future possibilities. It's claimed that Sumeru has chosen NEM technology to help Sumeru's various use cases, including bank transactions, workshops database, and volunteer based programs.
Portal Network is a startup that tries to connect and enhance existing blockchain technologies. It is written that Portal Network aims to help NEM Foundation in their quest to bring NNS (NEM Name Service) to real-life. For your information, NNS is a domain name service government by the smart contract to help blockchain interactions become much more user friendly.
After this partnership, Portal Network have been working closely with NEM Foundation to create NNS standard as well as various use cases around the NNS (i.e. browser extension and marketplace).
dtk.io is basically a framework to help your IT workflows and tasks. The good thing is that dtk.io is also open-source. The entity behind dtk project has chosen to integrate the NEM blockchain into dtk's ecosystem for application integration services as well as to connect various enterprise apps. With this partnership, the NEM blockchain would be able to integrate with various dtk.io's enterprise partners through their applications.
11. Asta Solutions
Asta Solutions is a company that tries to explore different IT ideas and solutions. Asta Solutions believes that the blockchain technology can help different companies to achieve better efficiency and security. In this specific case, Asta Solutions collaborates with NEM Foundation to develop various solutions and try to implement NEM blockchain technology in very specific use cases. Through the same collaboration, Asta Solutions is also hoping to be able to provide blockchain consultation services to its clients.
RapidQube might not be that famous in the crypto space but they actually have been around since 2016. It's a blockchain-focused startup company that tries to bring blockchain ecosystem to help various companies in the IT space. They also provide infrastructure, business, and technology consulting. Through their official Twitter account, they announced NEM Foundation as their partner for building different applications. It can be safely assumed that RapidQube would integrate the NEM blockchain for wide range of different implementations.
13. H3Labs Consultancy & Development
He3labs is a tech-focused consultancy and development company with various capabilities, including prototyping, deploying system solutions, and architecting. To achieve their goals, they believe in the blockchain technology. In particular, He3Labs believe that NEM blockchain has the best advantages to help its clients' real-world needs.
GUBI is considered one of the big artwork trading platform in China and it has been exploring different blockchain use cases to improve its system. In this case, GUBI chose to partner with NEM to evaluate its database and artwork market. It's believed that GUBI's expert database and user credit system would all be added to NEM blockchain.
KeySafeBank is a company owned by DataPost and 5M holdings that tries to become an institutional-grade custodian for cryptocurrency companies. The vision feels similar to BitGo but it's based in Singapore. Through the partnership between KeySafebank and NEM Singapore, it's written that KeySafeBank would help NEM to improve the power and benefits of NEM blockchain technology.
16. Las Vegas' Kind Heaven's Entertainment
Kind Heaven's Entertainment which is based in Las Vegas has partnered with NEM to create a new kind of decentralized market. Thanks to this cooperation, the vendors in Asia trade services and goods in North America can easily interact with each other in a direct way without any centralized third party entity. Not only that, Kind Heaven is also committed to work with artists who would create digital collectibles on NEM blockchain.
17. Taylor's University Malaysia
NEM Foundation believes a great strategy to expand its user base is through education to youngsters who have much bigger possibility to adopt blockchain technology. That's why they chose to partner with Taylor's University Malaysia to create blockchain education in various areas at Taylor's University School of Computing and IT (SOCIT) department. For example, NEM would assist Taylor's University in the creation of blockchain syllabus for the institution.
AENCO is the world's first healthtech and financial solutions blockchain platform. Aenco has its own blockchain which is created upon NEM's Private Catapult Technology. Through NEM's technology, AENCO team is hoping to capture real-life and customizable business applications for its communities. AENCO and NEM believe there has to be some improvements in the digital financing and healthcare-technology sectors, especially in the emerging markets.
Gifto is a popular altcoin project that tries to revolutionize the DAPP ecosystem. Through the partnership with NEM, Gifto is hoping to improve its services' scalability. Previously, Gifto was solely dependent on Ethereum, but they probably believes that Ethereum is not scalable enough for some of their particular services. That's why they decided to partner with NEM to improve the speed and efficiency of their platform.