A NEM employee's comment on the upcoming elections

My commentary on the upcoming NEM Foundation Elections. (this is purely my own opinion which does not represent the Foundation or its employee as a whole)

Over the past few days we all witnessed an influx of mismatched expectations and mud-slinging amongst the community. Passionate claims and accusations of mismanagement rife amongst everyone.

Allow me some perspective as an employee of the NEM Foundation. Allegations that the foundation and its staff being in NEM for self- enrichment is a very narrow viewpoint. Through many organised activities, the NEM has been able to convince many projects that you see live today to adopt our blockchain. Grassroot activities are crucial in any endeavour as without awareness, there will be no adoption considering we’re virtually unknown globally, particularly in Europe. I was just reminded by a European startup accelerator that even NEO has inroads into the EU Parliament in Brussels, Belgium because of their constant roadshows and grassroots activities. To think people will flock to NEM without promotion and education is folly considering even the largest of brands spend millions to constantly promote themselves at the grassroots level to attract and retain their audience.

Many of our staff are also married people. Just by bringing up the topic of travelling for a week to my spouse for work brings up unnecessary tensions especially when I have a demanding and asthmatic 2 year old who’s going to miss her father for another period of time. We take away the precious little time we have with our families for the sake of furthering NEM’s growth in the regions we operate in. I’m currently in Pakistan writing this piece and I bet no one else would even think of visiting this place on behalf of NEM. You can imagine my spouse’s reaction when I said I was coming to Karachi. More on my visit in my next post (the place is awesome by the way).

But why do we do it? I’m reminded by Jasmine’s interview (https://medium.com/women-on-the-block/women-on-the-block-asia-2018-pre-conference-interview-speaker-jasmine-ng-7a52b35e1cbb) that she’s in it because of the impact it can create. I recall a conversation I had with Stephen when many felt disillusioned by all the negativity, that we should imagine all the good and change we can make if things are done right. We feel in our efforts, we’re truly are making a difference. Here in Pakistan, the economic situation is quite dire and we’re in a position of strength to lend a hand in rebuilding a country.

We’re breaking down stereotypes where only men can excel in this field. In NEM South East Asia, almost half of our workforce is female. Last month, Laura of NEM Bangkok led a team of all female team members to manage CEBIT, the computing conference from Germany’s first foray into the Asian region. Through this conference, we were able to garner no less than 20 leads who are interested to build on NEM. Of that 20 leads, any amounts of implementations would be beneficial to our global community to be able to shout out to the rest of the blockchain world. Enterprises yearn for viable use cases which we are able to connect with through these conferences. It was through last year’s Singapore Fintech Festival we were able to convince the Bevtech company OMNIAZ to build on NEM, thanks to William, Wilma and Abbey in Singapore. It was through Silvia’s insistence to co-organise a cocktail party at the NEM Blockchain Centre for the Islamic Finance Conference in Kuala Lumpur that impressed a high ranking official to offer Dona’s team in Dubai a space in the Dubai International Financial Centre Authority to house NEM in the coming future, which was useful in convincing the Ministry of Community Development in signing the MOU with NEM stating their intention to explore blockchain with us.

It is through Leroy’s persistence that we have a NEM Korea and all it’s “Kimchi Premium” prices for XEMs and that we’ve been offered spaces throughout Seoul for any NEM projects needing an office space. It was through Jasmine’s efforts we’re able to connect to many banks and government officials in Malaysia. It was through Andy’s work we were able to penetrate the public sectors in Malaysia. Chieway and Jesyka’s work in the northern regions of Malaysia too is starting to bear fruits with several listed manufacturing and tech companies have expressed interest to build with our blockchain. It was through Kimble’s efforts that we have a foothold in Vietnam and a blockchain hub to boot.

Yafi, Mutia, and Anton’s efforts in Indonesia too are recognised with their awareness programs with Microsoft and some soon to be announced big global names. Emerson’s work in Philippines too have turned heads with deals in the government with the Cagayan Economic Zone Authority, various banks and university tie ups, and most notably managing Loyalcoin, arguably NEM’s largest use case to date. Ricardo’s insistence to remain in Hong Kong despite not being able to speak the local language too yet is able to pull off some great meetups and connections is testament that our troops have it in for the long haul. Nigel Hughes of NEM Thailand’s constant criticism of the competition and promotion of NEM’s ease of use brought us NOIZ Chain and Loyalcoin. Our content manager Nigel Yap constantly hounding everyone for details of their work to be updated into Medium to keep everyone updated.

The Global Finance team led by Priscillia Agatha, supported by Jane, Bee See, Erica, whom are also housed at the Kuala Lumpur Blockchain Centre tirelessly works to ensure the Foundation’s and regional offices compliance to financial standards and is audited in a timely manner. Our HR and Centre management teams Sharmila, Yizhou, Sobana, Tasha and Mimie working overtime and weekends keeping the lights on for our tenants and organising and hosting events at the event halls.

The Tech team led by Shin Tatt and supported by Ivy and Anthony who’s overloaded with training, development and preparing course syllabuses for the various universities and colleges asking for materials to be added into their diploma and degree programs. With the proper mandate, we could have and would have contributed to the Catapult roadmap too.

I was having a chat with Stephen’s wife a few months back, she joked that I see him more than she does. And that speaks volumes of his commitment to NEM considering I only see him once every 2 weeks.

The list of activities the SEA team achieved is by no means exhaustive as there are many other unseen activities that happen in the daily grind. Every one of our employees are breadwinners for their families and to discredit their work is a great disservice.

Which brings me to the point of this article. We recognise that many people are unsatisfied with the Foundation. But if no one else sees the good they’ve achieved, I’m taking this opportunity to publicly acknowledge how much effort has been made into doing all the work that’s been done. I’m humanising the people of NEM South East Asia because it is unfair to label everyone working for the Foundation in the light as portrayed by some in the community. The current state is not the NEM we signed up for, nor is this the NEM we want for the future. It is unfortunate that NEM is currently rudderless without a clear vision or a strong leader able to steer the ship in one single direction.

NEM SEA was recently shortlisted to be a recipient of the DSA (Digital Storage Asia) Awards, which would be useful for us to shout out our credence and to move out of obscurity. But with all that has been happening in the community lately, this news takes the back seat. It is with great hope that the future leadership can take NEM to where it should be: above Bitcoin in Coinmarketcap.

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Thanks for the informative post.
I feel the mudslinging has been minimal here in the forum, yet on Telegram (of which I do not frequent), their will be folk that will indeed get “hot headed” (myself included at past times).
It is promising that people are starting to think about the future strategy of Nem.
And thanks for pointing out the cultural and human aspects of working for Nem and the achievements that are/have been made.
Dan

What’s the ROI ?

I don’t care about your personal stories. You are running a company and no one cares about personal issues. All we care - ROI.

If we have blindly invested in NEM then what’s the ROI?

You have expanded community to Middle east / Philippines / Thailand

I got it. It’s good. But what’s the ROI ?

You setup NEM Middle east / Latin America but what’s the ROI?

Do you have a chart where you can show the progress? Do you have anything to support your growth? I don’t give a shit about awards and recognition. What’s the ROI ? What did foundation do to help startups grow in the ecosystem? How many well defined projects are running inside NEM?

Do you have any idea about this ?

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Great questions, I shall answer them one at a time:

  1. What is the ROI : ROI are the projects that have signed up with NEM.
  2. ROI in Middle East : MOU and projects with the Dubai Government, Dubai International Financial Centre.
  3. ROI for LATAM : still new but Pedro is working on a few leads.
  4. I believe there’s a list projects floated online on the projects that have signed up. That’s however not exhaustive and should be updated soon. I did mention a few projects in the article.
  5. We’ve done plenty to help startups in the region. Example would be we’re helping Omniaz in singapore be part of the Singapore FinTech Festival to. Showcase how they’re using NEM. We’re also helping guys like Wellderly and RealEstateDoc raise funds through our network of VC partners. We’re helping the government of Malaysia to understand blockchain more that they’re considering doing an ICO for their political parties. Our Consulting arm and Blockchain centre too are making some money enough to cover our operating costs. We’re fortunately well on our way to breakeven point that we would likely be self sufficient or maybe even profitable by 2019. And yes, Nem Malaysia is run like a company.

Hope this clarifies.

I would like to understand what’s your definition of ROI though. Considering that buying XEMs doesn’t mean you’ve invested in the NEM. Investing in NEM would need you to be an active shareholder, which is not really possible considering NEM is a foundation and doesn’t have shares to sell. Can you please clarify your understanding of ROI?

Thank you, you have illustrated many of the problems with NEM SEA in your post.

There is far too much focus on awareness and not enough on adoption

Through many organised activities, the NEM has been able to convince many projects that you see live today to adopt our blockchain.

I keep hearing about all these projects. What are they? How many are actually live on the
public blockchain?

no less than 20 leads

Leads are meaningless without conversion. How many are actually building on NEM?

what’s your definition of ROI though

CAC is a better measure. So:

  1. total spent / number of projects live on blockchain
  2. total spent / number of new users live on blockchain

SEA does not contribute to the global foundation efforts

and preparing course syllabuses for the various universities and colleges

This is redundant with other efforts within the foundation (in the CoE) and is a good illustration of SEA not working well with other regions.

With the proper mandate, we could have and would have contributed to the Catapult roadmap too.

SEA had the mandate. The whole foundation did.

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I suppose there are many ways to interpret things. I believe that without leads, there can’t be conversions. I do agree that there aren’t enough projects coming on live immediately, but I believe with the right support, more will flow in. I’d encourage support and collaboration as we’re all working to find solutions to bring NEM forward with all the competition around us, not point fingers and find fault within ourselves.

Hi Lance.Is the forum a Newbie ?

What have you been up to now?
Despite having places for discussion.

What is the purpose of the NEM Foundation?

The NEM Foundation is a non-profit foundation that manages the NEM blockchain platform.

Why can you work?
What is your wage born from?

It is NEM.

Development of NEM is top priority.

I am praying that you will do a good job for NEM.

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Thanks for the post Lance, it encapsulates what the ground troops do.
I think the downplay of what the tech trainers do in SEA is a bit unfair. I greatly appreciate their efforts assisting Thailand with explaining the more technical elements of the NEM ecosystem that non developers can explain but not necessarily delve deeply into. ShinTatt, Ivy, and Antony have my upmost respect and gratitude. We will be going to two universities tomorrow that will hopefully bring a new crop of young dves chomping at the bit to get building. One University is very keen for us to take developer interns, and thats a great way to get new and upcoming talent.
I do second your point that without leads, it’s nigh impossible to start the conversation, [just one clarification we got over 35 :wink: ].
Hope you’re able to get rest soon, and thanks again for the post.
Laura.

Let me give you a very direct answer. Do you know why hundreds of people are buying XEM? It’s because they are expecting their NEM to reach new heights. The salary that you are is an investment made by the foundation expecting a return. Jaguar pointed out CAC. But I’m still worried about the investment made in the middle east and other countries where there is literally no blockchain movement.

I can assure you that you are not going to do anything in the Middle East. Even though middle east is conducting conferences in blockchain they will never go for a blockchain based governance.

How much have you spent in the past 2 years in the middle east?
Do you have a burndown chart?
Do you have data available?
What kind of tasks are given to the NEM Middle East team?

I think from your perspective you are working hard. I agree that. But hard work with no result is no work. You need to set up a proper structure for the process and understand the conversion.

I’m surprised to see that a billion dollar cap company don’t have a project manager or scrum master or a business analyst.

Where can I get SEA’s projections? Is it available online for the community? Why no management member is working like a professional? We have a lot of politics and no one is speaking up because they are afraid of getting their funds rejected.

Let me say one thing clearly - NEM is going to die if do not go in the right direction. Let’s implement a well-defined process and move forward.

Thank You

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Hi Lion.
Please answer just two questions:

  1. Is there a result on the photos?
  2. What have you personally done for NEM?

Kudos to you to present your point of view from the inside.

Hope you do not get reducible for this as this would not be the point and one actually want employees to speak up.

It might seem that the foundation grew to quickly for the individuals that was leading the foundation.
The mere fact that your are referring to leadership is a clear indication that direction has been blur a bit over time.

I still think there might be issues that we do not know about, that legally has to be kept private.
It is just strange to me to see a foundation that has so much resource available and yet it is stagnating internally.
Does not help to expand to the ends of the world and the foundation is cracking…

Most concerning is that the community is not sure what is going on and council members are very quite about everything… it is like they have a gag order against them or something.

We need a new refreshed roadmap, people accountable and responsible to move it ahead and adapt as time goes on.

Dam it is sad to see this, Nem has so much potential and it is a if the governance is somewhat falling… ?

where is ecobit?

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I don’t think anyone is disputing the excellent work done by anyone at the Foundation on furthering the knowledge and profile of NEM over the past year - it has been a stellar performance by all involved all over the world.

What people are disputing is the fact that during this time there has little to zero product leadership on furthering the product itself. I don’t think anyone at the foundation can put their hands up and disagree with this.

I’m invested in NEM both monetarily and emotionally - I want it to succeed, but to do so it needs the correct leadership - not just great salespeople!

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Anton. Buddy I have invested in XEM more than you can imagine. Thousands of people like me are the reason why you are commenting here. I don’t want to argue with a fool but people who are sitting in the dev team and on the other side of the table will understand what I’m talking about.

Now that you have posted slides here… let me discuss about it.

  1. How many in the mainnet?

  2. How many transactions happening on the mainnet by these projects?

  3. What’s the revenue from these projects in 2018? and expected in 2019?

I do understand your frustration. But the management is clearly not capable of publishing a full-on excel sheet that can show the progress. I challenging you and current NEM SEA Managers to do it for the community.

Cheers

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No arguments, empty words!
I hope you are able to understand where your place in the picture

That’s what I thought. If your leadership or your leaders were strong you should have replied with supporting data.

This is a proof that the team doesn’t have accountability. They don’t really care about supernode or nem holders.

They waste their money in building blockchain centers which dosent provide any ROI.

They waste money incorporating regions and funding regions like Middle East.

They waste money travelling around the world, providing interviews to shit YouTube broadcasting channels and lying about the transaction speed of NEM.

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These are all valid questions that no one from the foundation seems to want to answer. I imagine the foundation has some way of measuring its performance?

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As a nem follower ( not a trader) I don’t mind the XEM price. What will happen if more companies use NEM but the xem price never goes up, despite the efforts of the NF and open source community?
What’s the revenue from these projects in 2018? and expected in 2019? Unless 3parties disclose the revenue. How can Linux know the revenue of the companies using its open source platform?

Really?

You have no idea how revenues and projections work. Good-bye.