The NEM Foundation made an announcement on 5th March that they will strengthen their Japanese team for the launch of Symbol. The NEM Foundation has appointed three people in charge of Japan to keep a check for the Japanese market improvement. A Japanese market is a place where active community activities take place and it is considered as one of the most important bases in the world.
Alexandra Tinsman, Chairman of the NEM Foundation believes that the Japanese market is a “future-oriented” market. She further quoted,
I feel that the Japanese market is a very future-oriented market because it has a quick view of the potential of early-stage projects. We haven’t experienced any network outages, and hopefully, after the launch of Symbol, there will be more supporters of NEM turning into more secure and faster networks.
The new product by NEM foundation, SYMBOL, is a blockchain platform that can be easily operated by anyone. With the help of Symbol, one can safely and swiftly combine blockchain function into new or existing services through WebAPI/ SDK.
The Public Relations Officer of NEM, Etsuko Kanetaka said,
In the NEM community, Japan has the largest number of community members in the world. Thanks to NEMber (NEM + Member), which has been supporting NEM for many years, it ranks fifth in Japan among the most-held cryptocurrencies. The symbol has adopted “Powering Possibility” as a catchphrase. The Japanese team functions as a hub that connects strong communities, enterprises, and NEM ecosystems in Japan, and has a “Possibility” in the Asian market mainly in the Japanese market.
NEM has a lower environmental impact when compared to other virtual currencies that use Proof of Work (POW). This happens because unlike POW, NEM does not consume a large amount of power. As per NEM, along with using the blockchain relatively easily, Symbol is a kind of platform that can be connected to existing applications and systems using APIs and SDKs.
The NEM Blockchain technology holds the potential to change the working system in the manner in which the industries manage their information and data. NEM Foundation aims to keep a detail about every industry to successfully store data related to transactions made, customers, and supplier data in a transparent and immutable ledger.