Review on NEM by francis fernandez
NEM is a viable option to solve some of the problems that organizations in general present
The crypto industry is becoming more challenging and unstoppable; in the search to achieve digital technological tools that help business organizations and private entities to achieve their business objectives in an optimal and efficient way.
Nem is a viable option to solve some of the problems that organizations in general present.
This platform represents a blockchain solution, which will allow companies to customize the use of the blockchain, by implementing the “smart asset system”, instead of using smart contracts.
The smart asset system is the cornerstone of the innovation that NEM offers to the blockchain network. It is used to develop applications and assets, entering directly through its API to the set of special trusted and verified functions of the blockchain.
The most important advantage of using smart assets instead of smart contracts; is that by using the former, it is possible to integrate the functions of the contract into the network without the risk of security failures or code manipulation.
But what are smart assets?
Smart assets are represented on the network in the form of records. They can be immutable assets, such as money, objects such as vehicle title deeds, and they can also be modifiable documents such as inventories.
In this way, NEM's blockchain technology offers companies the possibility of optimizing their accounting system and guaranteeing the security and faithful compliance of their operations.
Thanks to its computer protocol NEMNIS1; it has the facility to make API interface compatible with any programming code; being able to be integrated into any application or existing network.
There are many services and uses that NEM can contribute to the infrastructure of organizations; for this reason, its implementation within them is considered of vital importance to enforce the law and ensure the optimal and transparent operation of all technological processes of the companies.
Pros
- It allows companies to have a totally safe and reliable accounting system; by automating records in real time.
- Guarantees compliance with the stipulations of the Law; since it allows to create Legitimacy Tests as digital certificates or tokens to validate curriculum, titles, among others.
- It allows professionals to create their own NEM certificates or use standards to validate a particular Law.
- It allows creating hash with cryptographic signature in real time to validate credentials.
- It is used to permanently store documents that are kept under secure encryption.
- It is fully auditable.
Cons
- They do not exist.
