NEM Group Update

Hello

I feel that now is the time to share some thoughts as we begin to establish NEM Group (NGL) within the NEM ecosystem and complete the transition from Foundation.

I want to clarify some key points about NGL and its role, what the focus and priorities are and how we can start to energise and grow the NEM ecosystem to be successful.

Our ecosystem comprises 4 distinct but interrelated components;

  • Software Company
  • Ventures
  • Community
  • Trading

We recognise that the blockchain space has seen an explosion of chains and projects. This will inevitably be followed by consolidation and result in winners and losers. Our aim is to ensure that NEM is part of the group that emerges from this phase to help shape the next evolution of blockchain.

NGL’s role is to operationalise and commercialise that objective.

NGL structure

To build a successful ecosystem NGL needs to provide the impetus and energy behind each area but to be successful and we will need all 4 working together to achieve our goals.

Community – NGL’s role is not to control or manage the NEM Community – we want to support and encourage it - to provide the fuel that it needs to attract and retain long term token holders and to run itself – to become self-sustaining.

Ventures – will identify, invest in and partner with projects and businesses that will expand our ecosystem and that will succeed on their own terms, using our technology. This business is headed up by Dave Hodgson .

Trading – will focus on signing up and working with Exchanges globally and will provide the financial control to drive the liquidity we need for the ecosystem to succeed. This area is led by Iain Wilson .

Software Company – this business will provide the basis for our Enterprise focused approach and will oversee the continued commercial development of our 2 platforms – NIS1 and Symbol.

What I can say now about the software business is that it will be commercially focused and that we will build revenue streams so that the ecosystem – and NGL – become self-sustaining and resilient.

Our approach will be based on enterprise ready, commercial rigour, including a product led approach in our Go To market, which will make it easier for Enterprise clients to engage NEM, and the development of consultancy services to advise clients on blockchain related issues.

Once the software Co is up and running, we will no longer need to rely on liquidity events for funding, protecting the value of the coins and creating a better balance within our ecosystem.

Teams and Roles

As we build out the NGL organisation across the 4 components, there are some individual announcements and confirmed roles I want to share.

Firstly, Gimre and Jaguar are both joining NGL both as core devs and as non-exec directors, which is great news. This provides us with continuity as well as access to their deep expertise.

I am also pleased to confirm that Jeff McDonald has joined NGL as non-exec director.

The search for an MD for the Software business is well under way, with some very exciting candidates already on the short list.

We are also establishing 2 steering groups;

Steering Group 1 will focus on launching the public chain and will be chaired by myself and programme managed by Steve Powell . Steve is an experienced programme director, scrum master and expert in agile software project delivery.

Steering Group 2 will focus on Enterprise solutions . I will also chair this group for the time being whilst we build the Enterprise team.

To build a healthy ecosystem and for NGL to deliver in its role, we need to blend a vibrant cryptocurrency business with a self- sustaining enterprise focused software co. complemented by a strong community of long term coin holders.

The art of what we create together is the ability to combine the best of those cultures and approaches to create something truly unique.

We believe that staying true to an open source philosophy and being focused on commercial success are not mutually exclusive. There are great organisations that have achieved just that. (Red Hat or MongoDB to name just two).

If we succeed then we will have created a venturing business that attracts winning partners that choose us, not the other way around. We will be part of a growing, vibrant NEM community of long term token holders and we will have achieved global coverage of exchanges to attract different types of investors from around the World.

JAPANESE
CHINESE
RUSSIAN
SPANISH

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Cheers for the group together.

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Great update David!
EDIT:
And what about BloodyRookie? As third core developer. What is his role now? Why he is not also part of NGL?

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well done david. but i also want to konw your approuch about independet audit of nem group.i know crypto industry is completely diffrent with stock market but with invest prespective its important to me to know the stream of money in the nem group in what direction is.i know Symbol is a great product but i think the best team with the best product with the best coders with the best technology without Fiscal discipline is nothing. i hope the best for you and nem group and nem family in this hard way :heart:

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Same.
One team came, worked, did not release the catapult, left. The second team came, worked, the catapult did not release and left. Now the third team is coming. Bravo.
A very interesting situation, when you need to show that the leadership of the coin is listening to the community, then a vote is held on the color, logo, name of the new coin for a long time, but when questions relate to the financing of the new leadership and units, no vote is taken.
With this, the leadership of the coin once again shows its attitude to the community and reveals its true face. Of course, because the community cannot be trusted with such important issues as financing, otherwise they will not be decided in the right direction. I apologize for any grammar mistakes. He used an online translator.

The necessity of having Jaguar in the group was obvious for a while, it is a good step.

Regarding the community, i didnt see any changes. Long time and actives NEM holders are still banned because they dared critizised the queen Alex or NF a few months ago. So I’m having fun everytime I read about “supporting” or “helping” the community.

Beeing lifeBanned for beeing right about everything since the beggining (about NEM Foundation, Mark Price the scammer etc…). A good community lol

If jabo38 is more active on front together with other 2 dev core will be great for NEM

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Also need all to be at super fast speed to have results ASAP

You neither got banned for critisizing Alex/Foundation nor did you get banned because you were right about anything. You got banned for repeated offensive/polemic behaviour after ignoring many warnings. And since we had conversations about exactly this behaviour many times before, I’ll mute you again now for some days and really hope that you understand that repeating false allegations will not help you at all.

Great to have Jag and Gimre on board :+1:

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Well done. Good to see core devs join in NGL. Really hope NGL can help NEM go back to the right way. As you said, both an open source philosophy and software focused on commercial can success together. We depends on a great, positive community including investors and developers.

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sure, transparent financial can acquire more trust and attract more attention.

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Thanks. I’m also really happy to be working closely with Jaguar and Gimre too.

David has done a good job of bringing together a lot of new and old talent together in this new org.

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BloodyRookie continues to be a key part of core as well as a founding core dev, just not on the board of NGL.

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Thanks for reply. He does not want to be a part of board of NGL?

Yes. I would like to avoid more responsibility.

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All together will be great

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