mijin and Tech Bureau launch PoC

Blockchain Toreca proof-of-concept will be released on June 18 as a joint effort of Tech Bureau and Aeria's mijin platform
14 June 2018   894

Blockchain Toreca Proof-of-Concept, a service adopting a method of registering, issuing and distributing the trading cards is set to be released on June 18. The run period will be from June 18 till June 25. The official launch date is loosely set on July. Toreca is a blockchain card battle game. Using the blockchain technology game cards will be treated as digital assets and the record of any manipulations with it are immutably stored all the time.

mijin is a private blockchain compatible with NEM. It is developed by Tech Bureau and can be used internally or as a shared resource in a cloud. Tech Bureau is a fintech and cryptocurrency group company in Japan, US and Europe with a portfolio of blockchain-based solutions like Zaif, mijin and COMSA.

At the moment of publication, NEM market characteristics are as follows:

Average price 0.195110 USD
Market cap 1,755,990,000 USD
Volume (24H) 19,548,100 USD

NEM Foundation to be Almost Bankrupt

Newly elected president believes 160 000 000 XEM could fix the situation
31 January 2019   781

The NEM Foundation, a community-sponsored nonprofit organization to promote the blockchain of NEM is planning a massive downsizing of its staff, which currently has 150 people. This is reported by CoinDesk.

It is assumed that these steps are associated with a significant reduction in the budget and the forthcoming restructuring of the organization based in Singapore.

Thus, the newly elected president of the NEM Foundation, Alex Tinsmen, announced plans to send a request to the NEM public fund for the allocation of 160 million XEM tokens (about $ 7.5 million), which should help save the organization from bankruptcy.

Basically we realized we had a month to operate, due to the mismanagement of the previous governance council.
 

Alex Tinsman

President, NEM Foundation

After the request for the allocation of the specified amount is made officially, all 202 members of the fund will be invited to vote for it. The scale of the cuts will depend on the amount of funding approved, Tinsman added.

According to her, the NEM Foundation spent about 80 million XEM from December 2017 to January 2019 primarily on marketing.

We’ve reduced marketing activities because it doesn’t make sense to market a product [Catapult] that isn’t out yet.
 

Alex Tinsman

President, NEM Foundation

In particular, Alex Tinman refers to the blockchain engine Catapult. Its full-featured release was announced back in May last year.

NEM developers and users who wish to remain anonymous also state that the organization’s previous president, Lon Wong, used his position to promote questionable ICOs. As a result of these actions, he allegedly undermined community confidence.

According to Tinsman, a very strict budget policy will be respected under the roadmap for 2019. It is assumed that each team will be allocated a limited budget, there will also be requirements for public disclosure of documentation describing the tools they develop for the NEM ecosystem.

It is also planned to monetize the activities of the NEM Foundation by educating corporate users and affiliate marketing. This is expected to help reduce the organization’s dependence on community funding.