There is no platform that has successfully integrated both business and social activities in existence both in the mainstream social platforms and the blockchain like the way NEM have been able to successfully combine both to achieve excellence. Linkedin the recruitment and social platform giant have made credible attempts to balance the recruitment and social sids and have been met with futility. Most users only associate with Linkedin as purely a business website that connects job seekers, businesses, and firm owners. Only a few people will relate to the social aspect of the website. Same for Twitter, another social media giant with over 400 million active users which is only mainly related to its social side and barely for its business use case.
NEM Symbol platform is a newly developed tool for businesses, firms, and enterprises to utilize for their benefits. In today’s world, there has been a steady shift to modernize ways of doing virtually everything, various concepts and innovations have been successfully replicated in the blockchain. Blockchain, foremost decentralized technology with its transparency and tamper-proof attributes, seems to be the top attractions for innovative ideas, developers, and users.
The widespread use of decentralized technology was promoted by the recent global pandemic which saw the digitalization of a whole lot of businesses, business processes, and executions. Losing its essence, platforms only dedicated to offline infrastructure are grossly affected by lockdown actions carried out round the world. It is expected that a second round of lockdown followed by an expected new wave of Convid-19 cases is to be in effect anytime into the future.
Tokenization of Business
It is in this wise business enterprises and firms are making a shift and plugging into the modern way of doing businesses. Tokenization technology and processes have been on the increase as businesses make their way into the blockchain, gaining steady momentum. Tokenization is the unique process of taking an asset of any type and creating its digital representation in the form of a token that can be recorded, stored, and/or transferred through a blockchain network.
It is the actual representation of the value of a piece of art, business in the decentralized distributed system i.e the blockchain. There are no limitations to the kind of stuff that can be tokenized, anything of value ranging from physical to immaterials can be represented in a form of token. Due to these limitless possibilities, tokenization of assets have given rise to the need for a standard Security Token Offering (STO).
STO is the blockchain aspect of traditional IPO where instead of shares certificates and the likes, investors and participants of the offerings are awarded tokens as stakes, thereby simplifying the process of funds generation for the business seeking public offering and investors taking part. However, STO has way stricter measures and regulations than the usual ICOs and other token offerings since it deals with security, a core aspect of the Security and Exchange Commission (SEC).
Tokenization made possible with Symbol
New and existing businesses face many bottlenecks when making that needed shift to the blockchain. Topmost of it, is the barrier of entry for those businesses that are not exactly programming inclined. The drawback is made more frustrating for businesses especially when the programming language used is complex and geek with zero human understanding. Symbol solves this problem by ensuring that even those with no programming experience and knowledge can use and leverage on the platform connecting developers and individuals enabling countless opportunities.
Scalability issues; backed by the NSI1 blockchain Symbol is super optimized for smooth and fast business transactions and interaction. It is estimated that there shall be no downtime in the life of the platform, the ability to connect with various apps, dapps, APIs, networks and blockchains is made possible.
Even if all of the issues above are solved, without the right interactive environment for discussions, businesses may face some challenges connecting with the right community that understands the industry they operate in.
NEM hub aims to simplify everything that have got to do with social interactions within its platform, fostering the bond that connects individuals, businesses and enterprises operating within, created by a team of social experts, Daomaker in partnership with NEM establishes social mining activities for its community, where active participants with quality contributions get rewarded for their effort in a more democratic way.
NEM social and business innovations hope to be the new way smart businesses do things.