NEM Foundation Update – January 2019

Update - January 2019

First appeared on NEM forums

As we usher in 2019 as a new year, it also signals the start of the new elected members of the Executive Committee and Council Members (collectively known as the Council) coming into office. With this, the council has made a commitment to communicate to the NEM community and wider public regularly.

This Secretariat Office, which is a newly established function, will represent the Council in official communications. Below are key highlights since the NEM elections in December 2018.

Major Projects being executed with Project Leaders
We have elected members from the Council and key leaders in the community to take lead on major projects. Development of Catapult will be the key focus along with its commercialisation, sealing strong partnerships and solving area of economic sustainability. The Council is also developing strong financial reporting and legal standards which will be disclosed as relevant to members in due time.

Transition plans are in progress
Communication channels are in place with the past Council to ensure a smooth transition. As mentioned, this includes getting all the information about partnerships, legal documents, employee information, finances, etc. transitioned to their new owners. Progress is being made. We will also be looking to the community as a voice through POI voting which will be announced shortly.

The resignation of Mark Price as council member
It is unfortunate that Mark had rescinded his appointment as council member before the official appointment on 1 January 2019. One of the reasons he cited was that the council role required a strong commitment in time and capacity and would prefer to be an outside contributor to NEM technology. We wish him the best and will continue to work with Mark in different capacities best possible. The Council has agreed for Council Members, Pedro Gutierrez and Anton Bosenko, to be co-leaders in making progress on Catapult development before a project leader is appointed.

Top 3 focus areas
There will be a strong focus on Catapult development, governance and economic sustainability in the next few months. All leaders and employees will have these 3 areas as their main objective in mind and all global expansion efforts will only surround what matters most as our wildly important goals. There may be an internal restructure which may take place and it will focus around working in teams and effectively producing clear outcomes as we support the growth of the NEM blockchain platform.

We look forward to providing further updates often. Our wish is for the community to remain steadfast and supportive as we transition into our roles ably. We are coming onboard in challenging times and will nevertheless remain committed.ess remain committed.

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