NEM [XEM] will be expanding to Korea, says Stephen Chia

During an interview, the Head of South-East Asia, Stephen Chia spoke about the pros and cons and the future plans of NEM has for the year of 2018.

The Head of South-East Asia was asked about the pros and cons of NEM [XEM]. He said that all the global protocols [blockchain] started off and were introduced in the west and NEM is one of the few projects that started in the East. So the con of NEM is that a lot of people in the west are not aware of the project. However, the project is well-known in Japan and is one of the top cryptocurrency. It also has a strong partner in Japan, Tech Bureau.

According to Stephen, NEM is high in demand in Japan because of the blockchain technology and the partnership with Tech Bureau.

He said:

“They are actually co-partners in the development of our [NEM] next version of NEM blockchain which we actually call it Catapult. So basically because they are growing the whole community in Japan. Today, nearly 40% of our cryptocurrency is traded, on let’s say, on the 24-hour basis, 40% of is traded in Japan. Also, it helps that Tech Bureau already owns its own exchange platform, Zaif.”

Tech Bureau is a blockchain service provider that developed the second version of the mijin blockchain software, which is also known as the Catapault. The Catapault updates the NEM protocol on both public and private networks. It also provides smart assets which are swift and scalable so that companies and individuals can get Catapult on-board without the need to manage the infrastructure.

Stephen further states that the second popular country for NEM is Korea and NEM is trying to build a community and support the terms of using the blockchain in the country. The platform is planning to build a full team in Korea in order to engage with the government and the corporate.

Moreover, NEM would be partnering with an accelerator, incubator called Foundation X. They would be helping NEM develop the ecosystem to train more blockchain developers.

Stephen said:

“We know that if we have more blockchain young people who know all the program in blockchain as a developer, they can help have more use cases and more companies can grow out of that. And the same people, after you train them in blockchain, they can help companies or governments to solve some of the issues in various industries.”

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