NEM to Hold Meetup in Bergamo

NEM has announced that it is holding its Cryptocurrency Meetup in Bergamo, Italy on March 8, 2018
08 March 2018   1473

NEM’s blockchain platform was designed and coded for scale and speed. NEM’s private blockchain delivers industry-leading transaction rates for internal ledgers, and its Supernode program ensure that NEM’s open, public blockchain can grow without ever compromising throughput or stability.

NEM has announced that it is holding its 5th Cryptocurrency Meetup in Bergamo, Italy on March 8, 2018.

Nem milano meetupNEM Meetup in Bergamo

Location: Re-log, Via Provinciale per Grassobbio 2, Azzano San Paolo, Edificio DHL
Date and time: March 8, 2018, 7:00 PM to 9:00 PM

The speakers will hold a presentation of NEM, the "smart asset blockchain", one of the most versatile blockchains, strongly oriented towards real-world applications.

Marco "Rigel" Michelino, ambassador of the NEM Foundation in Italy, will be the headline speaker at the meetup. Marco has been a Bitcoiner since 2013, he is passionate about new technologies, and he worked with the NEM blockchain project since the launch.

Moreover, the attendees of the meetup will be involved in a networking session.

NEM Foundation to be Almost Bankrupt

Newly elected president believes 160 000 000 XEM could fix the situation
31 January 2019   1266

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.