AMA: Ask Me Anything Session with NEM (08.01.2018)

NEM is one of the oldest second generation Blockchain projects out in space, doing a Token sale even before Ethereum in spring 2014. NEM is doing very successful and was able to generate a much bigger Mr. Bet capitalization as Nxt what was once the inspiration to create NEM. At Monday the 8th of January Paul Rieger and Kristof Van de Reck have been in our Telegram channel to answer all questions from the community regarding this project (Names of community members are anonymous):

Mr. A, [08.01.18 21:00]

Ladies and Gentleman! Today we have Paul from NEM here. NEM is a famous project, starting in 2014 and now in the CoinMr. Betcap Top 10, leaving the main competitor and grandfather Nxt far behind. Let's start with the questions!

Paul Rieger, [08.01.18 21:01]

Thank you for having me. But really, I should say thank you for having us. Kristof Van de Reck (\@Xpedite), our Head of Europe, is going to join us as well to answer questions!

Mr. B, [08.01.18 21:01]

What is the longterm Vision for NEM in Europe and why have you created a legal entity in Belgium?

Mr. C, [08.01.18 21:01]

Who are nem’s main and upandcoming competitors?

Mr. D, [08.01.18 21:01]

Hello Paul. Hope u r fine! I am new with NEM. Whats the main reason why i should invest in NEM and why do you think NEM will be succesfull. Whats the usp of NEM?

Mr. E, [08.01.18 21:02]

Hello, Paul. How do you see the future of NEM after catapult?

Mr. F, [08.01.18 21:02]

HI, at what stage receiving litsenztion for the ZEUS project?

Paul Rieger, [08.01.18 21:03]

[In reply to Mr. C]

NEM doesn’t have a main competitor. We’re focused on providing the best enterprise solution for blockchain with the easiest integration into existing business processes.

Kristof (Xpedite) Van de Reck, [08.01.18 21:03]

Hello everyone, thanks for your inerest in NEM. We'll try to answer as much questions as possible 😊

Mr. G, [08.01.18 21:03]

which are some of the big companies testing nem?

Mr. H, [08.01.18 21:03]

Hey there! Appreciate the opportunity to ask you guys, thanks 😊. Recently the energyconsumption of Bitcoin has become a more and more important topic for mainstream media. As far as I understand, the PoI-algorithm of NEM is more ecological. Are there any plans to specifically advertise NEM as a "green alternative" or "green blockchain technology"?

Paul Rieger, [08.01.18 21:03]

[In reply to Mr. D]

Because NEM is run like a professional company that focuses on real world demand.

Mr. I, [08.01.18 21:03]

Could the voting system on the nem wallet, once be used by government to make there votings? (would be amazing)

Paul Rieger, [08.01.18 21:03]

[In reply to Mr. E]

bright ;)

Mr. J, [08.01.18 21:04]

How will NEM devolep and what else are you planning?

Mr. E, [08.01.18 21:04]

[In reply to Paul Rieger]

cool, maybe you can tell us more? some semi-insides?

Mr. B, [08.01.18 21:04]

How much funding did NEM get with its Token generation Event? And how will the funds be used in the future?

Mr. G, [08.01.18 21:04]

with almost no hype among diferent internet crypto groups (except nem enthusiasts), where did money come from to nem to hold it so high on Mr. Betcap? beocuse on any

question on fb pges about which coin to invest in, noone mention nem.

Paul Rieger, [08.01.18 21:04]

[In reply to Mr. G]

I can’t break any NDAs but people will be surprised about the quality of companies that are not only testing NEM but actually developing products with NEM once we’re ready to announce them.

Paul Rieger, [08.01.18 21:05]

[In reply to Mr. B]

Originally the call for participation collected around 40,000 USD. At the current Mr. Bet cap, this equals to a ROI of 37,500,000%. This one is also important for your presentation \@Mr. A ;)

Mr. K, [08.01.18 21:05]

Hello NEM team, first of all thanks for your time in this AMA session, great to see you guys put in this kind of extra effort.

One short question: is there any chance that you will decrease the minimum required vested amount for harvesting?

The current requirement of XEM 3 mn (USD 4.8 mn) seems to be quite a huge entry barrier and might lead to network centralization.

Mr. C, [08.01.18 21:05]

[In reply to Paul Rieger]

Any govts?

Mr. G, [08.01.18 21:05]

[In reply to Paul Rieger]

are then this companies holding nem price so high with investing?

Paul Rieger, [08.01.18 21:06]

[In reply to Mr. H]

We’ve made these points in the past and we’ll definitely emphasize them in the future but I think our solutions offers more than just being green.

Mr. F, [08.01.18 21:06]

at what stage receiving litsenztion for the ZEUS project?

Mr. C, [08.01.18 21:06]

What percent of fees go to harvester vs foundation?

Mr. A, [08.01.18 21:06]

[In reply to Paul Rieger]

with 300 Nxt from my side 😬👍

Mr. L, [08.01.18 21:07]

[In reply to Mr. C]

100% to harvesters

Mr. M, [08.01.18 21:07]

\@PaulRieger your algorythmus should not only be "green" but also provide less volatility. Why?

Mr. C, [08.01.18 21:07]

What has delayed catapult release and when will it be on public chain?

Paul Rieger, [08.01.18 21:07]

[In reply to Mr. G]

We have very strong interest from Asia where we’re much more popular and present than we’re in the West. This will change however and it’s one of our tasks to do so.

Mr. H, [08.01.18 21:07]

[In reply to Paul Rieger]

I'm aware that you're more than that :). thanks for the reply! 👍

Mr. N, [08.01.18 21:07]

[In reply to Mr. H]

Have a look on raiblocks or iota. There is no mining. Or coins with POS like ada.

Mr. I, [08.01.18 21:07]

Will the limit of 10000 to harvest be decreased in the future?

Mr. B, [08.01.18 21:08]

Does NEM Europe run projects with Banks in Switzerland?

Mr. C, [08.01.18 21:08]

[In reply to Mr. N]

They r dags not blckchain

Paul Rieger, [08.01.18 21:08]

[In reply to Mr. I]

Most likely, any government would build their own solutions ;) But the system is very flexible and could be used

Mr. N, [08.01.18 21:08]

[In reply to Mr. C]

I know

Mr. G, [08.01.18 21:08]

which use case is ment to be biggest for nem in future? in which sector, everyday pay use or something else? and..thank you for great product and keep on good work :)

Mr. N, [08.01.18 21:08]

[In reply to Mr. C]

Who cares if it is green.

Mr. C, [08.01.18 21:08]

[In reply to Paul Rieger]

It has to be Mr. Beted

Mr. C, [08.01.18 21:08]

To govts like hst

Mr. O, [08.01.18 21:08]

[In reply to Mr. N]

I do

Mr. N, [08.01.18 21:08]

[In reply to Mr. O]

Why

Mr. C, [08.01.18 21:08]

Lol ok next q

Mr. P, [08.01.18 21:09]

[Forwarded from Mr. F]

at what stage receiving litsenztion for the ZEUS project?

Mr. P, [08.01.18 21:09]

also interested in this point \@PaulRieger

Mr. G, [08.01.18 21:09]

is there any job openings in Europe inside nem org. if you are not developer ? where to apply?

Mr. Q, [08.01.18 21:09]

[In reply to Mr. O]

As do I, but it also means NIS, the NEM node, can be run in places like Africa using solar power

Mr. B, [08.01.18 21:09]

As far as I understand your consensus algorithm has an artificial limitation of something around 140 transactions per second. Can this restriction be removed/ amended? If yes where is the limit for the POI in your network? Has this been tested?

Mr. C, [08.01.18 21:10]

[In reply to Mr. C]

Esp to switzerland

Mr. O, [08.01.18 21:10]

[In reply to Mr. N]

Cause don't like wasting electricity

Paul Rieger, [08.01.18 21:10]

[In reply to Mr. K]

Probably not the most satisfying question but the system is working as intended to keep up a steady amount of super nodes. We might reconsider the current scheme with the launch of catapult on the public chain.

Mr. J, [08.01.18 21:10]

What has NEM planned for the future or is nothing stuck?

Mr. C, [08.01.18 21:10]

[In reply to Mr. B]

+1. And estimated tx speed on mainnet

Mr. C, [08.01.18 21:10]

Pls

Mr. N, [08.01.18 21:11]

[In reply to Mr. O]

Ah now i understand. Off course i do care that it is green. You miss understood me. I mean there is no matter if it is a blockchain or not as long it is green.

Paul Rieger, [08.01.18 21:11]

[In reply to Mr. C]

100% harvesters but the foundation isn’t harvesting

Paul Rieger, [08.01.18 21:11]

[In reply to Mr. B]

Yes, we do run projects with banks in the Zürich area which is one of the leading reasons why we’re going to intensify our efforts in Switzerland.

Kristof (Xpedite) Van de Reck, [08.01.18 21:11]

[In reply to Mr. B]

I'll first answer why we have created NEM Europe as our hub for European operations.

Setting up a subsidiary of NEM foundation in Belgium makes it easier to hire people and do Mr. Beting in Europe.

We had thorough discussions with lawyers and tax consultants and given the circumstances this was the best solution to ensure smooth operations.

The long term vision is to create a local presence throughout Europe. Obviously this will take time but over the coming years we intend to gradually open offices throughout Europe. The idea is to build an ecosystem around the technology.

Building open source community , getting system integrators and training organisations to provide support to companies that want to build on NEM etc ....

Mr. N, [08.01.18 21:12]

[In reply to Mr. C]

Dags have more potential in cryptocurrency space. 😉

Kristof (Xpedite) Van de Reck, [08.01.18 21:13]

[In reply to Kristof (Xpedite) Van de Reck]

On top of this we will probably communicate some Mr. Beting initiatives in the coming month.

Paul Rieger, [08.01.18 21:13]

[In reply to Mr. P]

Unfortunately, I can’t comment on that as I’m not involved in the project

Mr. C, [08.01.18 21:13]

[In reply to Mr. N]

Well... for certain use cases yes

Mr. F, [08.01.18 21:13]

[In reply to Paul Rieger]

Ok(( Thx

Mr. N, [08.01.18 21:13]

[In reply to Mr. C]

Agree, but most off.

Mr. C, [08.01.18 21:14]

When and where will the next nem conference be held in europe?

Paul Rieger, [08.01.18 21:14]

[In reply to Mr. M]

Do you mean price volatility? Block creation volatility?

Mr. M, [08.01.18 21:14]

yes, sorry

Mr. P, [08.01.18 21:14]

\@PaulRieger is the team working on listing XEM on "better" exchanges, like bitstamp for example?

Mr. D, [08.01.18 21:14]

Are you also in contact with central banks?

Mr. M, [08.01.18 21:14]

[In reply to Paul Rieger]

price

Mr. C, [08.01.18 21:14]

[In reply to Mr. P]

+1

Kristof (Xpedite) Van de Reck, [08.01.18 21:14]

[In reply to Mr. P]

I have met the people from Zeus exchange. I also can't comment on the stage they are in but I was quite pleased to hear that they are taking the regulatory aspect quite serious.

Mr. C, [08.01.18 21:14]

Binance shill

Mr. I, [08.01.18 21:14]

How do you finance the server structure?

Mr. R, [08.01.18 21:15]

Hi \@PaulRieger how large will the scale of your swiss operations be and will you team up with other projects based on the NEM blockchain?

Mr. B, [08.01.18 21:15]

[In reply to Kristof (Xpedite) Van de Reck]

looking forward seeing you guys work the Mr. Bet

Mr. N, [08.01.18 21:15]

[In reply to Mr. C]

Im especially “scared” of quantum computers. cant get quantum proofed till today. Dags can technically get quantum proofed.

Mr. P, [08.01.18 21:15]

[In reply to Kristof (Xpedite) Van de Reck]

ty :)

Mr. E, [08.01.18 21:15]

is there a lot of projects wants to use NEM platform to do ICO now? and it will be on comsa or nem? thanks

Mr. C, [08.01.18 21:16]

Pls answer q’s re: catapult

Paul Rieger, [08.01.18 21:16]

[In reply to Mr. P]

We’re in contact with all exchanges. Some people might believe we’re just waiting and sitting but that’s far from the truth. However, we don’t need any exchanges. We need those that are trustworthy and with those we’re working towards listings.

Mr. C, [08.01.18 21:17]

[In reply to Paul Rieger]

... true

Mr. P, [08.01.18 21:17]

[In reply to Paul Rieger]

ty Paul

Kristof (Xpedite) Van de Reck, [08.01.18 21:17]

[In reply to Mr. P]

One issue with the exchanges is that they are currently all swamped with new users but there are several serious exchanges that have told us that we are on the shortlist to being added.

Though , since NEM is built from the ground and is not a clone it requires more effort for the exchanges to add XEM support. That is why it's taking more time than we would like to see 😊

Mr. R, [08.01.18 21:17]

And one more from my side \@PaulRieger will there be regular meetups in Switzerland organized by NEM or will you leave the field to the users?

Paul Rieger, [08.01.18 21:17]

[In reply to Mr. M]

Not really possible for a freely traded currency that’s not pegged.

Mr. C, [08.01.18 21:17]

How is cryptopia more trustworthy than binance though

Mr. J, [08.01.18 21:17]

\@PaulRieger wehn NEM bring out their own Block chain?

Mr. P, [08.01.18 21:17]

[In reply to Kristof (Xpedite) Van de Reck]

ty :)

Mr. N, [08.01.18 21:17]

[In reply to Mr. C]

Heard bad things about them.

Mr. R, [08.01.18 21:18]

[In reply to Mr. J]

DYOR. They are a blockchain.

Mr. M, [08.01.18 21:18]

[In reply to Paul Rieger]

okay, thank you. thought I read that somewhere, but asked me how to do it.

Mr. N, [08.01.18 21:18]

[In reply to Mr. C]

Go google it you’ll see.

Mr. L, [08.01.18 21:18]

[In reply to Mr. J]

31.03.2015

Paul Rieger, [08.01.18 21:18]

[In reply to Mr. I]

Our network is run by independend individuals and companies. They earn fees from harvesting. We also have a supernode rewards program that rewards strong nodes that are up 24/7.

Mr. C, [08.01.18 21:19]

[In reply to Paul Rieger]

But need 1million nem....

Mr. I, [08.01.18 21:19]

[In reply to Paul Rieger]

👍

Mr. P, [08.01.18 21:19]

[In reply to Mr. C]

3

Mr. C, [08.01.18 21:19]

Oh

Mr. K, [08.01.18 21:19]

Is it possible that the catapult upgrade will lead to a hard fork?

Mr. S, [08.01.18 21:19]

Hi there, if you can‘t point out coming projects, which project is NEM missing? what would add alot of value to NEM? any thoughts and hopes? :-)

Mr. J, [08.01.18 21:20]

\@PaulRieger what has NEM all planned for the futures?

Paul Rieger, [08.01.18 21:20]

[In reply to Mr. R]

I can’t comment on the scale but we’ll definitely try to support other projects that build on NEM or those that want to integrate NEM. Our approach is that of interest first, then we set something up (i.e. blockchain hub)

Kristof (Xpedite) Van de Reck, [08.01.18 21:20]

[In reply to Mr. K]

Certainly. The question is what you mean exactly by a hard fork. If you mean that we end up with two NEM chains , that is possible but hard to assess.

Mr. T, [08.01.18 21:21]

two questions

1) when will be the catapult enabled ?

2) when changelly will make again nem transactions?

Mr. U, [08.01.18 21:21]

Hello Paul! First of all, I wanna thank the whole NEM Team for the excellent work you are doing on the platform and on the expansion plans. I am a developer from Brazil, and I am preparing to work as a NEM Evangelist and spread the word and develop many project here in Brazil. What is the NEM plans for Brazil, and how can I work together with NEM foundation on my country?

Mr. I, [08.01.18 21:21]

I would like to see a nem ICO, where I can support the network with proof of capacity, and that it needs miners an can also function like a ground income (big dreamer ;))

Mr. Q, [08.01.18 21:21]

[In reply to Mr. C]

You only need 3m XEM to run a Supernode and qualify for the Supernode payout. Anyone can run a "normal" node. It is NEM account / addresses that earns the harvesting fees and which is used for consensus. Different to Bitcoin PoS where it is the node

Mr. C, [08.01.18 21:21]

[In reply to Mr. U]

+1

Kristof (Xpedite) Van de Reck, [08.01.18 21:22]

[In reply to Mr. I]

What do you mean by proof of capacity ?

Paul Rieger, [08.01.18 21:22]

[In reply to Mr. R]

Right now it’s tough for us to organize a lot from the foundation side since we need to scale up first but we’re trying to help establishing community meetups and we do have a program that rewards community members who organize NEM 101s.

Mr. V, [08.01.18 21:22]

What are NEM's approaches to blockchain scaling? (sharding, child chains, pruning, layer 2 solutions, sth else ...)

Mr. K, [08.01.18 21:23]

[In reply to Kristof (Xpedite) Van de Reck]

Thx, yes 2 separate chains was what I meant.

Mr. I, [08.01.18 21:23]

And I would like to see a voting system (corruption proof) (zertificated like iso) so people can have secourde and proper votings around the world

Paul Rieger, [08.01.18 21:23]

[In reply to Mr. K]

A protocol switch always needs a fork or another migration tool but we’ll announce that well in advance ;)

Mr. C, [08.01.18 21:23]

[In reply to Mr. K]

Seems unnecessary since tech upgrade to catapult will be far superior

Mr. G, [08.01.18 21:24]

are there gonna be any annoucment this year about big comapnys testing/using nem? since they are secret now, can we have approximate date when we will hear big news? is that year, five year, ??

Paul Rieger, [08.01.18 21:25]

[In reply to Mr. S]

NEM is definitely missing more ecosystem projects. Companies that develop tools around NEM could make a lot of money ;)

Mr. F, [08.01.18 21:26]

[In reply to Paul Rieger]

will support two circuits?

Paul Rieger, [08.01.18 21:26]

[In reply to Mr. G]

No approximate date but unless something drastic happens: 100% we’ll announce big companies this year

Mr. I, [08.01.18 21:26]

[In reply to Paul Rieger]

Something like (need will feed the world) :)

Kristof (Xpedite) Van de Reck, [08.01.18 21:26]

[In reply to Mr. S]

I personally think that the true potential of blockchain will develop once we have features that can be used acros different applications.

Think about a good identity protocol , most applications that are trying to solve a real world problem need KYC, so that is a nice to have.

Similarly solving the issue that blockchain is not really suitable for data storage is something that is being worked on already ( linking NEM with IPFS) .

These projects that will support the NEM ecosystem are really important !

Mr. S, [08.01.18 21:27]

[In reply to Paul Rieger]

thx you both.

Kristof (Xpedite) Van de Reck, [08.01.18 21:28]

[In reply to Mr. K]

Chances are that it would happen but in the end we need to question ourself what the long term value of such a project would be. We need to keep in mind that there were reasons to start building NEM from scratch a second time. 😉

Mr. U, [08.01.18 21:28]

Are there plans to upgrade NEM features to do things not possible at this moment, like, for example, having limited lifetime/expirable mosaics tokens, being able to upload files to the NEM blockchain, being able to edit/adjust mosaic levy fees, or having more levy fee types, like, rental fees for some assets and etc?

Paul Rieger, [08.01.18 21:28]

[In reply to Mr. U]

Hi Mateus, we’re looking to expand to more and more regions in the coming months/years. We have a NEM Influencer chat you can join to connect with likeminded people.

Paul Rieger, [08.01.18 21:28]

[In reply to Mr. I]

audit tools

Mr. K, [08.01.18 21:29]

[In reply to Kristof (Xpedite) Van de Reck]

Good point 😊

Mr. U, [08.01.18 21:29]

[In reply to Paul Rieger]

Thanks Paul! Is this chat here in Telegram? I´ve searched now, but did not found it.

Paul Rieger, [08.01.18 21:30]

[In reply to Mr. U]

I’ve added you to it

Kristof (Xpedite) Van de Reck, [08.01.18 21:30]

[In reply to Mr. U]

Yes , we are currently defining and prioritizing the feature roadmap for catapult ( both for the public chain as the private chain) .

Catapult will already have some features that the current version of NEM doesn't have when it will be launched.

Mr. P, [08.01.18 21:30]

[In reply to Kristof (Xpedite) Van de Reck]

will there be a white paper for catapult in the next time?

Mr. C, [08.01.18 21:30]

What percent of foundation is japanese? I like japanese creative engineering but business interaction is not suited to the west

Mr. C, [08.01.18 21:31]

[In reply to Mr. P]

There already is.... dec 2016...

Mr. P, [08.01.18 21:31]

[In reply to Mr. C]

final version for the release version

Mr. U, [08.01.18 21:31]

[In reply to Kristof (Xpedite) Van de Reck]

I can´t wait for that! So If I start to develop right now on Mijin platform, I will be able to access and play with some of these new features?

Kristof (Xpedite) Van de Reck, [08.01.18 21:32]

[In reply to Mr. P]

Catapult whitepaper has been released quite some time ago, you can find it on our website ( in the footer of the webpage).

Paul Rieger, [08.01.18 21:32]

[In reply to Mr. V]

We have a scalable solution right now and the even more scalable solution is already being tested (catapult). Catapult will be a two layered solutions with a 1-1 binding between the API gateway and the node server.

Mr. P, [08.01.18 21:32]

[In reply to Kristof (Xpedite) Van de Reck]

ty :)

Mr. U, [08.01.18 21:33]

[In reply to Paul Rieger]

Thanks, I appreciate that. 😊

Paul Rieger, [08.01.18 21:33]

[In reply to Mr. C]

I can’t tell you a % number but we’re very diverse and will be even more diverse in the future :)

Kristof (Xpedite) Van de Reck, [08.01.18 21:33]

[In reply to Mr. U]

Correct , Catapult is currently being tested ( private chain ) by some companies that have access to some of these features that are not available in the current version of NEM .

Mr. S, [08.01.18 21:33]

[In reply to Kristof (Xpedite) Van de Reck]

quite some time ago .. is it still valid, any changes?

Mr. I, [08.01.18 21:34]

An ICO supporting agricultural projects would also be great. Human beings are growing exponentially and solutions have to be made

Paul Rieger, [08.01.18 21:34]

[In reply to Mr. I]

Not an ICO but we have BlockGrain developing on NEM

Mr. L, [08.01.18 21:35]

[In reply to Paul Rieger]

https://forum.nem.io/t/community-fund-proposal-blockgrain-automating-the-grain-supply-chain-with-nem/12374

Mr. P, [08.01.18 21:35]

[In reply to Paul Rieger]

is NEM team working on this, or third party?

Mr. U, [08.01.18 21:35]

Can I ask something about Mijin here? Or is it out of the scope today?

Kristof (Xpedite) Van de Reck, [08.01.18 21:35]

[In reply to Mr. S]

To be honest , it's been quite some time since I read that. IIRC whatever is in there is still relevant but don't quote me on that.

( I'll have to go through that again 😉 )

In any case , since that paper was released we have added some additional features to the wish list.

Mr. I, [08.01.18 21:35]

[In reply to Paul Rieger]

👍

Paul Rieger, [08.01.18 21:36]

[In reply to Mr. U]

You can ask any questions you like :)

Kristof (Xpedite) Van de Reck, [08.01.18 21:36]

[In reply to Mr. P]

3rd party

Mr. P, [08.01.18 21:36]

[In reply to Kristof (Xpedite) Van de Reck]

ty, that's what i wanted to know

Mr. F, [08.01.18 21:36]

how about the new ideas? For example to introduce payments by means of XEM in Apple Store? Or to Create for them a token on the basis of NEM (mosaic)

Mr. I, [08.01.18 21:36]

You need a camera team from switzerland which producers videos to advertise stuff like this?

Mr. P, [08.01.18 21:37]

we want to translat WP, and wait for the final release

Mr. G, [08.01.18 21:37]

what other project you see as direct comeptition to nem and why you are better? :)

Paul Rieger, [08.01.18 21:37]

[In reply to Mr. F]

There are projects similar to what you’re suggesting under development. Despite being the boring idea behind blockchain, payment will play an important role in NEM’s future

Mr. C, [08.01.18 21:37]

[In reply to Kristof (Xpedite) Van de Reck]

Actually a new readable whitepaper is in order as it’s full of grammatical errors

Mr. P, [08.01.18 21:38]

[In reply to Mr. F]

or steem, or battlenet :)

Mr. Q, [08.01.18 21:38]

[In reply to Mr. F]

Thinking outside the current box but isn't this exactly what Xarcade is trying to do? They sit on top of NEM

Paul Rieger, [08.01.18 21:38]

[In reply to Mr. G]

We focus on real world demand

Mr. F, [08.01.18 21:38]

[In reply to Mr. P]

+1)

Mr. V, [08.01.18 21:38]

What is the motivation for a company to choose nem instead of ... (Enterprise Ethereum, Hyperledger *, Ardor, ...)?

Kristof (Xpedite) Van de Reck, [08.01.18 21:38]

[In reply to Mr. P]

I know everyone is craving for more info and you can be sure we will communicate as soon as possible.

Mr. C, [08.01.18 21:39]

[In reply to Mr. F]

Will mem provide front end services to non-business customers?

Mr. C, [08.01.18 21:39]

Nem

Kristof (Xpedite) Van de Reck, [08.01.18 21:39]

[In reply to Mr. V]

That is quite a difficult question to answer but from talking to people that have worked on hyperledger , ethereum and then learned about NEM; NEM is much easier to work on.

Paul Rieger, [08.01.18 21:39]

[In reply to Mr. C]

We have our wallets but it’s not one of our priorities to developt other front end interfaces. B2B first but who knows what the future will entail

Mr. F, [08.01.18 21:40]

[In reply to Paul Rieger]

perfectly, if it are large corporations

Mr. V, [08.01.18 21:40]

[In reply to Kristof (Xpedite) Van de Reck]

thx

Paul Rieger, [08.01.18 21:40]

[In reply to Paul Rieger]

Also, third parties will develop the front end interfaces

Kristof (Xpedite) Van de Reck, [08.01.18 21:40]

[In reply to Paul Rieger]

This is actually where we encourage the open source community to make contributions.

Mr. C, [08.01.18 21:40]

[In reply to Paul Rieger]

Ty

Mr. C, [08.01.18 21:41]

Nem conference in europe?

Paul Rieger, [08.01.18 21:41]

[In reply to Mr. C]

In due time ;)

Mr. C, [08.01.18 21:41]

Is nem set up in USA already?

Mr. U, [08.01.18 21:42]

Well, I am an ERP developer in a company in Brazil, and I would like to implement blockchain to control some of our supply chain processes, but, as I showed the idea using NEM blockchain, my superiors said that it would not be good to pay fees for each transaction that is already done today without fees. So, if we use Mijin platform, we still have to have XEMs to pay for every transaction inside Mijin? Or does it work without fees if we want to?

Mr. L, [08.01.18 21:42]

[In reply to Mr. U]

mijin works without fee's, or with an own type of fee if you want

Kristof (Xpedite) Van de Reck, [08.01.18 21:43]

[In reply to Mr. C]

We are working on that but legally USA is not the most hospitable environment 😊

Paul Rieger, [08.01.18 21:43]

We’ll definitely have more on more meetups around Europe and we’ll intensify this with the creation of blockchain centres in the future (similar to what we’re doing in SEA)

Mr. B, [08.01.18 21:43]

[In reply to Mr. U]

it's your private chain - so no fees the only thing you will need to pay is the license

Mr. C, [08.01.18 21:44]

[In reply to Kristof (Xpedite) Van de Reck]

Sure, but businesses in USA are starting to adopt dragonchain

Mr. U, [08.01.18 21:44]

[In reply to Mr. L]

thanks

Mr. C, [08.01.18 21:44]

It may be inferior but they have workshops etc

Kristof (Xpedite) Van de Reck, [08.01.18 21:44]

[In reply to Mr. B]

Though plans are to fully open source ( it will be a dual license , though I can't give more info at this time ) Catapult which means that if you have the proper capability you could spin up your own private chain from the source code.

Mr. U, [08.01.18 21:44]

[In reply to Mr. B]

Thanks! so I will contact them to start my development tests.

Mr. U, [08.01.18 21:46]

[In reply to Kristof (Xpedite) Van de Reck]

That would be amazing! I am in love with NEM.

Paul Rieger, [08.01.18 21:46]

Looks like we’ve handled the biggest batch of questions. \@Mr. A do you have any questions you’d like us to answer?

Mr. Q, [08.01.18 21:46]

[In reply to Mr. C]

SNAP INteractive is an American company and Lon Wong just became an advisor

Paul Rieger, [08.01.18 21:47]

[In reply to Mr. Q]

https://finance.yahoo.com/news/snap-interactive-appoints-blockchain-pioneer-210000894.html

Mr. G, [08.01.18 21:47]

When nem skyrockets, on which beach i can buy you a beer ? :)

Paul Rieger, [08.01.18 21:47]

[In reply to Mr. G]

By then we should have hubs around the world, so up to you ;)

Mr. G, [08.01.18 21:48]

👍

Mr. S, [08.01.18 21:48]

what is your end of year xem prediction? \@ Paul and Kristof

Kristof (Xpedite) Van de Reck, [08.01.18 21:48]

[In reply to Mr. Q]

I'm aware of some other US businesses that are building on NEM technology ( private chains mostly ) too, but can't share details.

Mr. G, [08.01.18 21:49]

do you see nem hit 100 at one time?

Mr. C, [08.01.18 21:49]

[In reply to Paul Rieger]

Are we getting started on the when woon hodl?

Mr. C, [08.01.18 21:50]

Well i think that was very helpful thx team

Mr. C, [08.01.18 21:50]

Gnite

Mr. U, [08.01.18 21:50]

What happens to one NEM namespace and its mosaics, if you lose the date to pay your namespace rental fee?

Mr. A, [08.01.18 21:50]

[In reply to Paul Rieger]

I wanted to ask a few things but others have been quicker😁👍

Paul Rieger, [08.01.18 21:50]

[In reply to Mr. U]

Someone else can register it. It’s like domain names.

Mr. U, [08.01.18 21:50]

Can every mosaic, namespace and subdomain lost forever?

Mr. R, [08.01.18 21:51]

Thank you very much \@PaulRieger !

Kristof (Xpedite) Van de Reck, [08.01.18 21:51]

[In reply to Mr. U]

There is a grace period but after that all is lost.

Mr. C, [08.01.18 21:51]

I think I will be slowly increasing my nem size on my portfolio

Paul Rieger, [08.01.18 21:51]

[In reply to Mr. R]

and \@Xpedite ;)

Mr. G, [08.01.18 21:51]

[In reply to Mr. C]

maybe better to be fast :)

Mr. U, [08.01.18 21:51]

[In reply to Kristof (Xpedite) Van de Reck]

So, if everything could be lost, that means the blockchain is not completely immutable?

Kristof (Xpedite) Van de Reck, [08.01.18 21:51]

[In reply to Paul Rieger]

You are the man in the DACH area 😉

Mr. C, [08.01.18 21:52]

[In reply to Mr. G]

Nah fomo is not the name of the game

Paul Rieger, [08.01.18 21:52]

[In reply to Mr. U]

The transactions won’t be lost but you won’t be the owner of the namespace anymore

Mr. D, [08.01.18 21:52]

\@PaulRieger Thx for the awesome answers 👍

Kristof (Xpedite) Van de Reck, [08.01.18 21:52]

[In reply to Paul Rieger]

Yes , I should have been more clear about my answer

Paul Rieger, [08.01.18 21:52]

Meaning, you can’t change the suppyl (if you set that option), transfer the not issues supply to other accounts etc

Paul Rieger, [08.01.18 21:52]

The past can’t be changed :)

Mr. R, [08.01.18 21:52]

[In reply to Paul Rieger]

And \@Xpedite !

Mr. U, [08.01.18 21:53]

[In reply to Paul Rieger]

So, if someone have a mosaic of a namespace, and the owner of that namespace don´t pay the fee, the mosaics on my wallet would not be erased, right?

Mr. U, [08.01.18 21:53]

I would still be able to transact with them?

Mr. U, [08.01.18 21:53]

And maybe, someone could take the ownership of that domain if this person is fast enough?

Mr. G, [08.01.18 21:53]

thank you a lot...i like nem now even more :D

Kristof (Xpedite) Van de Reck, [08.01.18 21:54]

[In reply to Mr. U]

no

The idea is that mosaics where the issuer is no longer supporting the project will not be worth anything in the long run.

Paul Rieger, [08.01.18 21:54]

[In reply to Mr. U]

We’ll have longer rental periods with catapult

Mr. U, [08.01.18 21:55]

I understand! Of course this is not something anyone want to do... but I am just trying to understand the platform in all its details.

Kristof (Xpedite) Van de Reck, [08.01.18 21:55]

[In reply to Mr. U]

[ 👍 Sticker ]

Paul Rieger, [08.01.18 21:55]

[In reply to Mr. U]

I’ve added you to our tech channel as well ;)

Mr. U, [08.01.18 21:56]

Because, if this works that way, there is obviously additional risks when paying for mosaics.

Mr. M, [08.01.18 21:56]

Thanks too, from my side! \@PaulRieger \@Xpedite

Kristof (Xpedite) Van de Reck, [08.01.18 21:56]

We are more than happy to do this ! 😊

Mr. U, [08.01.18 21:56]

Thanks friends! This is a great community. The best I could wish to have. ;)

Mr. A, [08.01.18 21:57]

Thanks Gentlemen! Awesome, a lot of questions and very good detailed answers. Great stuff!

Mr. L, [08.01.18 21:57]

btw. official NEM telegram channel is \@nemred you are welcome to join us

Kristof (Xpedite) Van de Reck, [08.01.18 21:58]

It's good to know what kind of questions are relevant so we can improve our communication. We will work hard on better communication in 2018 😊

Mr. G, [08.01.18 21:58]

can i have one more?

Paul Rieger, [08.01.18 21:58]

sure

Mr. L, [08.01.18 21:59]

\@nemprojects for the developers and https://t.me/newsonnem for news 😊

Mr. G, [08.01.18 21:59]

so there is limited amount of xem....some ppl lose their wallets, some can die and not tell password to anyone....so at some point in future, there will be no access to coins...what happens then?

Mr. G, [08.01.18 21:59]

:)

Paul Rieger, [08.01.18 21:59]

Anybody who wants to join our tech channel, message me. Also, if you have questions you might like to ask in a more private setting, message us (e.g. you work for the Nationalbank and want to switch to NEM ;)

Paul Rieger, [08.01.18 22:00]

[In reply to Mr. G]

Deflation ;)

Kristof (Xpedite) Van de Reck, [08.01.18 22:01]

[In reply to Mr. G]

There are 9 billion coins which should be plenty , let's hope most people know the importance of taking care about their private key 😉

Paul Rieger, [08.01.18 22:03]

So, Thank you for having us and hopefully we were able to answer most of the questions you wanted to ask. We’re definitely going to communicate more in 2018 and I’ll also be in Switzerland from time to time. Perhaps we might even meet at a meetup in Zürich soon ;)

Mr. I, [08.01.18 22:04]

Would nice. Thanks alot!

Mr. G, [08.01.18 22:05]

:)

Mr. G, [08.01.18 22:05]

thanks....have a nice evening

Kristof (Xpedite) Van de Reck, [08.01.18 22:05]

[In reply to Paul Rieger]

Sure , if anyone knows a good ( cheap 😊 ) location to organize a meetup, we'll arrange that some time we visit Switzerland again.

Kristof (Xpedite) Van de Reck, [08.01.18 22:05]

If so , please get in touch with us 😉

Mr. A, [08.01.18 22:06]

Have a great evening, many thanks for the big participation! Awesome hour!

Mr. P, [08.01.18 22:07]

yep :) thank you guys for answering the questions :)

Mr. H, [08.01.18 22:20]

thanks to everybody involved in the organization of this AMA - that was fun and interesting 👍