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Largest Blockchain Technology Incubator to support the Region in Malaysia

Stephen Chia, Council Member and Regional Head, Southeast Asia, NEM.io Foundation, and Country Lead for NEM Malaysia was on hand at the launching of NEM’s latest Blockchain Centre (NBC), the largest of its kind in Asia, that is fully operated by a blockchain technology organisation. The center will serve as a hub for learning, as well as an incubator and accelerator for organisations or individuals who are keen to explore the latest in blockchain technology and its applications.

Stephen shared that the opening of the NBC, will double up as NEM’s Headquarters for its regional operations for NEM in Asia (excluding China and ANZ) while they look for alliances and collaboration to develop more blockchain hubs.

NEM is an organisation committed to deepening the understanding, adoption and application of its blockchain platform for any and all organisations in Malaysia and the region looking to delve into the blockchain technology while it gains global traction in a multitude of verticals including financial services, insurance, education, retail, telecommunications and logistics.

Stephen gave a brief description of how blockchain works and said that it is a very secure and dependable mode of an in-between for parties looking to make an exchange. He gave an example of how banks work as an in-between party when conducting certain transactions. With blockchain he said, the role is the same, however the costs are lower and easily monitored.

The center also offers startups and organisations looking to develop their own blockchain ideas, funding through a few of their projects that are already running. Stephen was very enthusiastic about the projects that they are running and encouraged those interested to get in touch with the team there for further information and details.

“The NEM Blockchain Center serves to educate and support organisations around Asia with an interest on blockchain technology and its applications. We have already kick-started iniiatives and programmes with local and regional companies keen on exploring how to improve transparency, prevent fraud and establish trust in their business through adoption of blockchain innovations. Blockchain will certainly impact how organisations in every industry manage their information and data to benefit their customers or end-users.”

NEM Foundation is a non-profit organisation based in Singapore, set up to promote NEM’s blockchain technology globally and is currently one of the most well-funded and successful blockchain technology projects in the cryptocurrency industry.

The Foundation is expected to spend around USD 40 million in 2018 to fund its global expansion plans where USD 5 million will be used to support blockchain companies within the incubation of NBC Malaysia.

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