NEM FREE WRITTEN REPORT

in #nem6 years ago

Whitepaper Nem Catapult
Introduction
" Unleash the power of the blockchain technology as a priority and quickly allow projects to build applications on top of this platform and realise the power of the blockchain technology
o Allowing any solution to sit on it independently
o An abstraction layer with a full suite of APIs allowing for ease of integration, and thereby harnessing the power of the blockchain ledger
o Scalability

Goals
" Make smart contract an external component
" Build a platform that is inexpensive to deploy with minimal risk, time, and resources, while at the same time allow financial institution to carry on business as usual with minimal interruptions
" Create a blockchain platform with multiple ledgers for multiple use cases
" Create a single abstraction layer for all the ledgers in this same blockchain
" Recognize privacy and allow each financial institution to control and manage its very own blockchain platform
" Allow for seamless cross-platform transactions, payments, and settlements through direct transactions

Catapult
" Feature Highlights
o High scalability
o High performance
o High throughput message queues
o Use of nosql database
o Embedded escrow service
o 3000 transactions per second
o Permissible access to accounts
o Interoperability
o Business Rules
o Metadata
o Built-in messaging solution
o Process activated or manual sign-off function
o Multiple ledger in one blockchain
o Every account can hold multiple assets from multiple ledgers
o Every account can be controlled by the financial institution
o Freezing accounts
o Transaction reversal with full audit trail and accountability
" Consensus
o Permissioned ledger follows a controlled Proof-of-stake
o Permission-less is based on Proof-of-importance
" Perspective-Use cases
o Mutual Fund - Transfer Agent
" Actors
" Mutual fund Manager
" Transfer Agent
" Customer
" Value of Sale
" Net Asset Value derivation
" Investment details and conditions
" Dividends
" Discounts
" Management fee
" Trustee fee
" Transfer fee
" Commissions
" Buy process
" Await a settlement period
" Upon settlement make transfer of units
" Issue a certificate of ownership
o Interest Rate Swap Arrangement

Other Initiatives - A comparison
" Ethereum
o NEM has no smart contract since it should be up to the bank
o NEM has multisig solution and smart escrow solution
o Most financial institutions already have smart contracts they have been using for years
o Not possible to have a trustless smart contract platform
" Bitcoin
o NEM is more scalable
o NEM does not have unspent transaction output
o NEM has on-chain signing of transactions
o Bitcoin does not have an inherent, purpose built multiple ledger solution
o Bitcoin does not have a node reputation management solution
o Bitcoin offerings are workarounds patched on solutions that require dependent third party providers
o NEM requires much less computing and energy resources to manage and maintain it
o Transaction speed on bitcoin is slower
o Confirmation time of Bitcoin is too slow
" Corda
o NEM could use the outcomes of these smart contracts to drive processes and outputs into the Catapult ledger system

Whitepaper NEM Apostille
Introduction
" Timestamping the hashed fingerprint of a document into the blockchain has come to be known as proof-of-existence
" Blockchain notarization
" Certificates of property ownership, certificates of achievement, verification of witness, verification of a product quality, etc.
" Apostille system looks to add these properties to within a blockchain ecosystem
" Apostille seeks to do this by taking advantage of naming service, multisignature accounts, messages, and blockchain assets
" NEM, offers all of these services by default with one universal API

NEM features
" Namespaces
o Domain naming system
o Allows one person with one unique root domain to create many different subdomains for their various projects or outside business accounts
o Reputation system for services built on registered names
" Mosaics - Assets on the NEM Blockchain
o Any kind of asset that a company would like to issue
" Messages
o Open, encrypted, and hex
o 320 characters (272 encrypted)
" Multisig Contracts
o A pre-existing and funded address is converted into a multisignature account and the cosignatories are assigned to it
o Account is no longer "just an account" but instead is a certification account representing the state of the underlying content it is linked

The Apostille System
" Accounts can even be thought of as "colored accounts" which are far more suited and useful for tokenizing data value sets, and can signify anything a creator might want to represent, transfer, and update.
" A blockchain platform like NEM with account states and customizable namespaces, mosaic assets, multisig contracts, and messaging options allows for a wide variety of application framework conventions to take place, Apostille being just one example.
" Types of Apostille Notarizations
o Public Sync
o Private, Transferable and Updatable

Uses Cases
" Car Title
o Reflecting what repairs and maintenance had been done and at what mileage
o Paid insurance and passed inspections
" Government Registration
" Digital Media Licenses
o Representing how many times a product has been streamed
o License and limits
" Luxury Consumer Goods and Anti-Counterfeiting
o Serial numbers, high definition scans, chemical makeup, and so on
" Two-Party legal contracts
" Highly adaptable and can fit custom use cases

Roadmap
NONE
Team
" Lon Wong
o President and Founder
Partners & Backers
" Tech Bureau Corp.
" Dragonfly Fintech
" Atraura Blockchain
" Blockchain Global
" Kchain
" LuxTag powered by NEM
" Sumeru Inc.
" Dtk.io
" Asta solutions
" RapidQube
" Zeus Exchange
" He3Labs Consultancy
" Transform Group
" iCentric
Articles
NEM is the coin to watch these coming weeks
https://www.cryptorecorder.com/2018/02/12/nem-xem-is-the-coin-to-watch-in-coming-weeks/

Japans First Online Bank
http://mijin.io/en/1370.html

NEM breaks ground in the kingdom of Bahrain
https://medium.com/@paulchristianespiritu/nem-breaks-ground-in-the-kingdom-of-bahrain-e9415ba8490a

Videos
NEM 2018 Price Prediction

Why is this Japans 2nd favorite coin

The Nem Ultimatum

CoinCheckUp

Conclusion
NEM is a protocol that allows for developers to build applications that help financial companies and industries to get introduced to the blockchain and its uses. NEM created the catapult that allows for banking and investing systems to take control of their own ledger and provide better services to their clients. NEM apostille provides companies to record assets and namesakes on the blockchain to provide better services that confirm the validity of a name and asset. I think that this is a really good company that has some good solutions and a good business model for actual use cases that current projects haven't thought all about. I think that this is a good long term goal and can be compared to a lot of current blockchain projects, which is good because It basically does everything on one blockchain, which is customizable making it easier for companies and banks to get into blockchain. Also this works with governments, so it's already a win in my book.

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