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NEM [XEM] delegates take its Outreach Program to Penang, explore the market

Priyamvada Singh



NEM [XEM] delegates take its Outreach Program to Penang, explores the market
Source: Pixabay

On 7th August, the official Twitter handle of NEM announced that the Foundation is extending its outreach program to the Malaysian state of Penang. The program consisted of a trade mission to explore the market in Penang through the assistance of the Internet Alliance, Malaysia.

The Internet Alliance, Malaysia is an association that supports the Internet service providers such as web designers, data centers, solution providers and suchlike to represent their interests to the authorities. The joint effort also works on outlining a legal infrastructure to safeguard the players in the industry, expand the market, among other purposes.

Lance Cheang, the Project Director of NEM Southeast Asia led the program wherein the team met with a couple of businesses based out of Penang. Here, NEM investigated its impact on these companies in the state.

Some of the companies visited by NEM were Zebra Technologies, Intel, Exabytes, AyuhBina, EasyParcel, Penang Tech Dome, QDOS and Penang Science Cluster. The team also visited the Penang State Government for the same purpose. It was founded that these businesses are interested in blockchain and want to further explore the area.

Lance Cheang, regarding the Penang’s potential in terms of supply chain use case, reportedly said:

“We see great potential in Penang, particularly in the supply chain use case, and we’re looking forward to partner up with the state government to have a NEM blockchain hub in the northern region.”

Another highlight of NEM’s Penang visit was the team’s meetup and engagement with Chow Kon Yeow, the Chief Minister of Penang. He was accompanied by one of his deputies, namely, Ramasamy Palanisamy. Here, the NEM members explained more about their blockchain. They also included details on the available funds and the NEM charter.

Recently, NEM also announced the establishment of their deal with Cagayan Economic Zone Authority [CEZA] in the Philippines. This helped in countering the stringency reflected in CEZA’s measures to prevent irrelevant players in the cryptocurrency space.

Prior to this, the Foundation also expanded its ecosystem to New Zealand, particular into two communities, Maori and Pasifika. This was through a collaboration of NEM with Mana Labs, which provides Enterprise Resource Planning [ERP] solutions to its clients.

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Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.