NEM foundation announces their vision for moving forward after layoffs

08 Mar, 2019
by David Borman
Update
NEM foundation announces their vision for moving forward after layoffs

Chepicap has previously reported on some of the ongoing financial issues at NEM. Now, the company has released an outline of their vision to move the coin forward, including an injection of funding to the tune of 25 million XEM, or about 1 million dollars.

Read more: NEM releases an update on their plan to avoid bankruptcy

The outline is broken into three parts: "Funding," "News on the NEM Foundation Catapult efforts," and "Set up of the transformation team." Funding outlines how the company will be receiving funding in installments, and the first installment of 25 million XEM was initiated on March 7th.

As for "News and NEM Foundation Catapult efforts," the post reveals that the Catapult Mobile Wallet is still on track to be developed, the NEM Foundation testnet is being worked on and the team is expanding their SDK's to include Python, PHP, and Unity.

In terms of the transformation team, the outline explains that NEM does not intend to fill all the roles immediately, but instead set up a "task force" to address the most important issues as soon as possible. These include: Market positioning, leadership performance, finalizing the NEM contractor structure and model, training, policy formulation, and working with the community.

It looks like NEM is trying hard to position themselves well after their recent struggles. Hopefully they succeed, but in the meantime stick right here with Chepicap for all your NEM company updates!

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Read more about: NEM (XEM)

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