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NEM [XEM] used for CopyRightBank – Cryptography replaces Authority!

Simran Alphonso



NEM [XEM] used for CopyRightBank: Cryptography replaces Authority!
Source: Pixabay

Over the past week, NEM has been covered in several tie-ups by trading platforms as well as new programs. NEM Blockchain was recently used for the launch of CopyRightBank.

Today, NEM tweeted:

“We are proud to announce that @MyCopyrightBank has officially launched! The NEM community can get a 50% discount with the coupon code NEM50%. Spread the word!”

The information available digitally can be easily stored, transferred, manipulated, and shared. While these are huge benefits of the developing era, it presents the bigger challenge of unauthorized copying, distribution, modification, and use. To eradicate this, CopyrightBank replaced authority with cryptography.

The NEM blockchain technology empowers CopyrightBank as it accelerates trust in the information that it stores. This is because blockchain is a decentralized, distributed ledger that is immutable.

The code running the NEM’s blockchain uses powerful cryptographic algorithms that secures and ensures the integrity of the information. As a result, the digital-fingerprinting, time-stamping, and recording by CopyrightBank can be relied upon.

XEM recently announced its listing on CoinDeal. South Korea’s leading cryptocurrency exchange platform, Bithumb also listed XEM. Listing on India’s BuyUcoin, as well as Hong Kong’s Coinsuper, indicates that NEM is rapidly covering the Asian trading platform market.

At the time of writing, XEM has a trading price of $0.19 and a market cap of $1.7 billion. The coin has seen a fall of 2.36% in the past 24 hours and the weekly cap runs red with 6.20%.

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Simran Alphonso is a Journalist at Ambcrypto. She has a background in Financial Markets and holds expertise in Digital Marketing.