NEM to Select New Executive Committee & Council Members at its 2018 Council Elections using Own Blockchain Platform


NEM, a leading global blockchain platform announced today its intention to hold its 2018 NEM Council Elections on Friday, 7 December 2018 using NEM’s own blockchain technology and platform. The entire process will use NEM’s unique and innovative blockchain technology from membership verification using a cryptographically secured identification engine, to using its NanoWallet to create a public storage for verification documentation.

The purpose of the elections is to determine the core members of the new Executive Committee (ExCo) as well as decide who the new Council Members of the Foundation will be.

The NEM Council is a group of elected individuals who come together to discuss the needs of the NEM Foundation and NEM technology platform. This allows the NEM Foundation to reach a consensus on issues that impact its sustainability and future.

Alexandra Tinsman, Regional Head, North America at NEM, commented: “Big changes are ahead in the Foundation and this is the moment when our community will determine NEM’s direction for the coming years.”

To vote in the Council Elections, individuals are required to become an NEM Foundation member, and will have to go through an application and approval process as set out on the Company’s website. The deadline for the application of a membership is Wednesday, 7 November 2018.

Steve Li, the Head of China at NEM, said: “ Foundation has been created to serve the community, now it’s the time for the community to choose their committee members. We encourage members to cast their votes if they want a say in how the Company operates going forward.”

Flora Fang, Head of Taiwan commented: “We are the first in the industry to utilize our own blockchain technology for a Council Election, yet another testament to NEM’s spirit of innovation. We highly believe that the community should get involved and join us in deciding the future of the Foundation.”

The results will be made public with every vote verifiable on the NEM public blockchain. The poll will be published on 3 December 2018 and will be closed during an extraordinary general meeting (EGM) organized by the Foundation. An audit will be conducted at the EGM), and the newly elected officers will be announced after the audit has been completed.

NEM’s blockchain technology has been previously deployed for the Ukraine Election Body Trials in a test, using test coins by the Foundation. Blockchain voting is gaining traction as the return on investment in placing results on the blockchain is considered worth it.

Blockchain makes it impossible to change saved information, and the decentralization of the data is advantageous. NEM’s blockchain allows a user to create their own assets, and its log structure allows the user to attach a message. In addition, NEM’s API is user friendly, allowing users to access data in an easy-to-use format.

NEM’s blockchain technology was launched in 2015 and has been widely adopted around the world.

NEM is an out-of-the-box enterprise-grade blockchain platform launched in March 2015. NEM has industry leading blockchain features which include multisignature account contracts, customizable assets, a naming system, encrypted messaging, and an Eigentrust++ reputation system. Companies with legacy systems can “plug ‘n play” with NEM.

ABOUT THE FOUNDATION LTD Foundation is registered in Singapore and is operating globally. It was launched to promote NEM’s blockchain technology worldwide. It is one of the most well-funded and successful blockchain technology projects in the cryptocurrency industry.


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