Here is a project about EC cube and how it is working with NEM technology now for secure sign on. http://itpro.nikkeibp.co.jp/atcl/news/15/122504198/
Sorry I don’t have English information.
Sakura Internet’s stock frozen again for another day. Since making a press release saying they will work with NEM, they have gone from a $65 million marketcap to $340 million marketcap.
Here is their press release from the day when the stock started going up http://www.coindesk.com/press-releases/sakura-internet-tech-bureau-cloud-system-mijin-blockchain-free/
And here is their stock price graph form Wallstreet Journal http://quotes.wsj.com/JP/3778
And here is the chart for Infoteria. Same story.
Could someone explain to me what this means for NEM?
The way I understand this is that it won’t have any direct effect on NEM since Mijin is a fork and uses their own private blockchains without any direct interaction with the NEM blockchain. It’s just based on the same technology. So two completely seperate entities.
The only benefit I can see is that if some of those businesses decide to use NEM in addition to Mijin, they will have less development efforts to do since Mijin uses the same API design. But that’s a big if in my opinion.
Just my 2 cents, but please correct me if I’m wrong.
You are kind of right, but let me put it in a different perspective because scale really comes into play here.
Right now the companies exploring using Mijin have millions of customers. One one of our bank deals has 2 million customers. There are lots of other deals too, like the Infopedia deal. That is with 5000 medium to large size business. How many customers do you think a medium to large size business has 1,000, or maybe 10,000? I could say a small business has 100. But lets keep that conservative at 5,000,000 people. And again there are lots of other deals.
Now out of all those deals, lets say only one really works out and we only get 1,000,000 people using Mijin, and of that we get a meager 1% cross over rate to the NEM chain. That would have given us 10,000 real users for some real service on the NEM chain. And that is the kind of pessimistic conservation model of most of the business deals not work and having hardly any cross over.
But just think about that for a moment. That would be 10,000 real users that had found some service on the NEM main chain. Right now Litecoin is the second largest crypto, and I would be hesitant to say that they actually have 10,000 real users (I’m not counting speculators here, but people that use Litecoin to pay for some real service).
Of course I personally am hoping for lots of business deals to go through and lots of conversation to the main chain.
Furthermore there has been no clear word that Mijin will be completely independent and not directly affect NEM positively. If there is a good way to intertwine the two projects and make it so that they are more one in some form or another, than that would be great and cause even higher conversation rates. But to date nobody has actually ever done that. Blockstream has 20 million dollars and 20 of the brightest devs and they haven’t even been able to do that with Bitcoin. That said, NEM devs have it A LOT easier than Blockstream because they are building on NEM.
Provided that those end customers even know they are using Mijin and they know that it’s using NEM’s technology. I don’t think large bank like that will expose the end customers to technical stuff of that nature. It’s basically just backend architecture for the bank.
I mean I would love to see a crossover like you speak of happen. I’m happy for the Mijin team but realistically I’m not counting on it.
I’m not sure the customers would still even know in some cases. In some cases it would just be the company deciding they would rather have their app run on the main net instead of a Mijin. Like lets say there is a big video game company who is putting all their tokens on a Mijin network. Some small Indy gamer sees that and gets an open source code that was ready to got and install in his app, but instead of paying for a big Mijin network with powerful servers, he decided to just use the NEM main chain. That is just an example, not saying that would happen, but there are dozens of different scenerios where small developers might use the mainnet instead of Mijin and hope to one day later switch to Mijin if their transactions go too high. Or likewise, there could be cases where a product was designed on Mijin but then they decide to open it up for anybody in the public to interact with, so they also put a version on the mainnet. Again, said customers might not even know they were on NEM or Mijin in either case, they just know that their app they are using has a token and that token has value and can be traded.
There would be other cases though where very well might learn about NEM through Mijin and then decided to use a service on the NEM chain.
Some of this comes down to who will build their services on NEM. Right now it isn’t very clear. In fact for the whole blockchain tech as a whole it isn’t clear what companies will adapt a blockchain as part of their business model and if they do, what their app and needs are. But when/if they do in the coming years, I think we can have a compelling case for them to build on NEM/Mijin. They basically get two for the price of one. And if they aren’t sure yet whether they need their app to be puplic or private, it won’t matter much.
I think that is the big question, how will real companies be using the blockchain.
And specifically for NEM, how will use of Mijin intersect with XEM.
It still is unclear, though promising partnerships are being formed.
That and the fact that existing & publicly traded companies are looking at Mijin is a huge win compared to a startup looking to use blockchain tech.
This topic is no longer a banner. It will no longer appear at the top of every page.
We have the best technology in the world right now. I think we are well-positioned to gain a lot of ground.