NEM is a peer-to-peer cryptocurrency and blockchain platform launched on March 31, 2015. Written in Java, with a C++ version in the works, NEM has a stated goal of a wide distribution model and has introduced new features to blockchain technology such as its proof-of-importance (POI) algorithm, multisignature accounts, encrypted messaging, and an Eigentrust++ reputation system. The NEM blockchain software is used in a commercial blockchain called Mijin, which is being tested by financial institutions and private companies in Japan and internationally.
Mijin is a private blockchain that uses the NEM software. The developers claim that it will reduce banking institutional costs by 90% while making banking more secure. Sakura Internet is partnered with Tech Bureau to offer 6 month free trials of Mijin for people to try. It was tested in December 2015 by Japan’s largest trust bank, SBI Sumishin Net Bank, owned by Sumitomo Mitsui Trust Holdings, to add to their online banking services.

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2 Responses to Wikipedia

  1. shinichi says:


     0.000001 µXEM (microXEM) – smallest unit
     0.001 mXEM (milliXEM) – thousandth unit
    Plural XEM
    Symbol XEM

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