Appreciating the potential Australia presents, NEM Foundation launched a blockchain hub in Melbourne. The hub will offer support on blockchain technology and cryptocurrency to interested members of the public.
The launch of the Melbourne hub was imminent
NEM enjoys solid support in Australia and has previously had successful partnerships with Australian-based firms such as TravelByBit.
In New Zealand, NEM has created partnerships with companies, through grants and contributions, for the purpose of unlocking the benefits of blockchain technology.
The Melbourne hub will primarily host blockchain events and educational programs. Additionally, the company plans for the hub to serve as a business incubator and support centre for NEM-based blockchain startups.
The Melbourne hub will promote NEM’s Growth in the Pacific region
New Economic Movement (NEM) was launched in 2015. It is a platform that introduces new features in the blockchain system. The platform’s unique currency, XEM, which has continuously increased in value, has since been adopted by commercial blockchain, Mijin.
According to Jian Chan, NEM’s lead in Australia and New Zealand, the launch in Melbourne is a sign of the foundation’s commitment to support innovation not only in Australia but also the world.
Currently, NEM has offices in more than 40 countries. The rapid growth and expansion is a result of hubs in different countries. The company first launched operations in Australia in 2017 at the Fintech Australia Intersekt Festival.
The positive reception of the new blockchain hub
LaunchVic, a startup support program launched in 2016 with the support from the government of Victoria, is delighted with the launch of the new hub. LaunchVic’s CEO, Kate Cornick, said that her company is happy to welcome NEM to the Victorian Innovation Hub.
She continued to express her support by saying that the hub has the potential of becoming a multi-sector co-working facility that will encourage innovative collaboration among the over 360 top Australian-based startups, incubators, and accelerators. She is positive that the hub will help the community understand the different blockchain protocols.