Overview: NEM related services from Japan

Overview on NEM related services from Japan. Can NEM be the solution of the next generation!?

NEM is one of the most popular cryptocurrencies in Japan. Volunteers who support NEM are actively developing its related services and promoting adoption. Now in Japan, you can trade it on exchanges such as Zaif and Coincheck.

NEM is classified as a Bitcoin2.0 project, which uses Blockchain technology to give their solutions additional features other than cryptocurrency.

NEM uses its native Blockchain based on the algorithm called PoI (Proof of Importance) and is designed to be utilized in various services other than cryptocurrency. API features have already been released, so you can develop applications as easily as making a website by using them. Owing to the usability of APIs, a lot of NEM related services are coming up in Japan.

Introduction: Overview on NEM related services from Japan

1. XEMbook

2. Master Node Bank

3. NEM Twitter tip bot

4. Open Apostille

1. What is XEMBook?

XEMBook is similar to a bankbook. XEMBook allows you to confirm the balance of your XEM—the native cryptocurrency for NEM—and its total value in JPY, and check your Importance Score (the score shows the importance based on the amount of XEM held in your account).

You can also find the current prices of XEM on each exchange and review the history of transactions and returns from Harvesting. It is not required to log in to your account. Once you open your XEMBook, you can get the information in a single page just by entering your NEM address.

Reference: XEMBook (http://xembook.net/)

2. What is Master Node Bank?

Master Node Bank is a lending service for cryptocurrency. You deposit your cryptocurrency and after a specified date of maturity you can withdraw the money with interest added. The interest comes from the reward for their supernode. They will create a full node of a cryptocurrency and make a profit from rewards for the full node (it is called “supernode” in NEM). The rewards will be stored and later distributed as interest to customers’ account.

You can earn profit with a full node, but it will require a huge amount of money to set up one by yourself. Master Node Bank currently supports only deposits in NEM (annual return of 1.5% or 2.0％). It is similar to fund management by banks, where you deposit money into your bank account and they return the fund to you with interest added after a specified period. Using a full node is one of the most interesting parts of cryptocurrency and it also contributes to the whole network of a cryptocurrency.

Reference: Master Node Bank (https://www.masternodebank.com/)

3. What is NEM Twitter tip bot?

You can trade NEM Mosaics on Twitter using NEM Twitter tip bot. You can easily send XEM and Mosaics that you made via Twitter. All you need is a Twitter account and XEM or a Mosaic you want to send. You can send assets smoothly just by tweeting the recipient’s Twitter ID and a command.

You can freely use the service for social tipping on SNSs. NEM Twitter tip bot is a micropayment-powered service, which could not be achieved with fiat currency. Let’s send some XEM and Mosaics as a token of your gratitude.

Reference: NEM Twitter tip bot (https://namuyan.github.io/nem-tip-bot/)

4. What is Open Apostille?

Nano wallet, a native wallet for NEM, has a service for notarization named Apostille. With Open Apostille, you can share your public documents created through Apostille in your Nano wallet.

You can use Apostille to officially certify various assets, such as real estate registrations, IOUs, contracts, ownerships of copyright, registrations of patent, your ideas, and whatever you want. It is a revolutionary system because you can create certificates without the need for a third party. By uploading files to Open Apostille, you can share your certificate information and make it accessible to anyone. It has an excellent search function and you can easily find your past posts by tagging them.

Reference: Open Apostille（https://www.openapostille.net/）

Even if you are not a skilled engineer, you can easily launch your own service using NEM’s API features. Why don’t you put your rich ideas into a new service!? Blockchain technology is not completely versatile. However, by making good use of its features, you can streamline the current system or create unusual services. One of the keys to NEM’s popularity may be this usability of API features.

Publisher : CoinChoice
Author : @BFM33211