NEM.io Foundation to open blockchain hub in Melbourne

Australia is to soon become home to another blockchain hub, with the NEM.io Foundation to open a new space in Melbourne.

NEM is a peer-to-peer smart asset blockchain, built to enable startups and businesses to integrate its system through a ‘plug and play’ approach, with XEM its own cryptocurrency. The NEM.io Foundation, a non-profit organisation, was founded in Singapore in 2015 to support the further development of NEM’s blockchain tech and grow the community of NEM users and developers across the world.

The Melbourne hub, to be located with the Blockchain Centre in Stone and Chalk at the Good Sheds North, will be staffed by NEM representatives, who will look to help members of the community better understand blockchain and crypto.

Jian Chan, lead for NEM Foundation in Australia and New Zealand, said the development of the hub highlights the growth of NEM within the Asia-Pacific region; the Melbourne space will be the latest to launch down under, with a Brisbane hub already open.

“The launch of the NEM Blockchain Hub in Melbourne is a strong sign of our commitment towards supporting innovation in Australia and the world,” Chan said.

The NEM Foundation expanded into Australia last year following the launch of a $90 million global development fund to support startups building on its technology.

Funds are distributed according to votes via the NEM Blockchain Community Fund platform; companies post about themselves and their idea, with users then voting for those they like. Popular companies are then presented to the NEM.io Foundation, which conducts due diligence.

Queensland agriculture supply chain tracking startup BlockGrain in January raised $1 million, or 800,000 worth of XEM tokens, through the global NEM blockchain investment fund.

Startups CopyrightBank, RocketShoes, TravelbyBit, Choice, and Origins have also used the NEM blockchain to build. 

Karen Cohen, general manager for Blockchain Centre, said, “NEM has been a long time partner of Blockchain Centre, there is a demand within our community to understand the difference between various blockchain protocols and we are glad that we are able to work with NEM on this.”

Image: Jian Chan. Source: Supplied.