NEM, like all other cryptocurrencies, is decentralized and independent, and its objective is to ensure that "everyone who utilizes NEM currency has equal rights." The initials of The Economy Movemenet gave rise to the term NEM (New Economy Movement). NEM, which was launched in March 2015, bills itself as the world's first smart asset.
The NEM Foundation, which works in compliance with Singaporean rules, is currently in charge of NEM's growth and progress. Erik Van Himbergen, Jeff McDonald, Lon Wong, and Leon Yeoh are among the foundation's founding members. Erik Van Himbergen is a businessman from Belgium.