An announcement was made today by NEM of Malaysia to open their new blockchain center, NBC, in Kuala Lumpur. It will serve as a learning center, incubator, and accelerator for various organizations located in Asia, who are open to the idea of exploring blockchain technology along with associated applications across multiple industries.

NBC will be the biggest of its kind in the area, completely operated through blockchain technology organizations. NBC will also be the center of the NEM Blokchain Innovation Lab, a certifiable headquarters for research and development as well as regional support for organizations interested in using the NEM platform within their IT mainframe. It will also be a place for co-working with other companies in Malaysia who are already using its services for their personal related blockchain needs and knowledge-sharing occasions.

Get a tour inside the 11,000 square feet, #NEM Blockchain Center in Kuala Lumpur, Malaysia. https://t.co/7nTNsu3QRP

— NEM (@NEMofficial) July 5, 2018

NEM Malaysia was founded by the NEM Foundation, an organization located in Singapore, dedicated to promoting and developing as well as adopting new NEM Blockchain Solutions all over the world. With NBC in action, software developers, coders, business users, entrepreneurs, startups, exchanges and the entire blockchain community are predicted to test and develop use cases on how blockchain tech can be used for a specific purpose on the NEM platform.

The NBC also enables organizations to explore how blockchain technology can be used to improve data transfers with increased speed, better security at a lower cost, and at a better price than with other tech platforms. Blockchain is gaining traction on a global scale, in multiple industries like those of financial services, insurance, education and automated accounting. It is even being used to store medical and scientific records, international remittance, securities trading customer relationship management, notarization and many more.

“The NEM Blockchain Centre serves to educate and support organizations around Asia with an interest in blockchain technology and its applications. We have already kick-started initiatives and programs with local and regional companies keen on exploring how to improve transparency, prevent fraud and establish trust in their business through adoption of blockchain innovations. Blockchain will certainly impact how organizations in every industry manage their information and data to benefit their customers or end-users.”

Stated Stephen Chia, Council Member and Regional Head, Southeast Asia, NEM.io Foundation, and Country Lead for NEM Malaysia.

The NEM blockchain is already being used in a multitude of industries and services located throughout Asia and the rest of the world. One of these companies is Absolutely Inc. the largest rewards and loyalty program company in the Philippines, a system that works at point-of-sale terminals for cryptocurrency in the retail industry. Another is Pundi X, found in Indonesia; a backend payment and mobile settlement solutions provider by Dragonfly Fintech pet. Ld., Singapore.

With the opening of the NBC, NEM Malaysia will be the center hub for all operations in the region. NEM Asia excluding China and ANZ, will be where the team focuses their collaborative efforts to create new strategies and alliances all over the world to expand the reach of NEM.

They will also secure better partnerships while developing new blockchain hubs as well. The Malaysian company will be able to leverage the power of the NEM platform and tech to create blockchain solutions for the entire economy of the country while giving it access to training events, service providers and tech support.

Partners and customers include member companies under the Internet Alliance.

“The Internet Alliance and its members look forward to continuing our collaboration with NEM Malaysia in building awareness and educating companies about Blockchain. We encourage anyone with an interest in blockchain to explore its applications for your business, whether you are an SME or a large enterprise.”

Said Chan Kee Siak, President of the internet Alliance Malaysia, and Founder and CEO of Exabytes Group.

The NEM Foundation is expected to spend nearly forty million US in 2018 alone in order to supply the global expansion of the company. Five million US dollars will be allocated in supporting the development of companies incubated in Malaysia at NBC.

What do you think of the new creation of the NBC in Malaysia? How will this affect the industry and the rest of the world?

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