NEM Malaysia Opens Largest Blockchain Center in Asia July 5, 2018 July 5, 2018 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
NewsJuly 5, 2018 by Kelly Cromley

NEM Malaysia Opens Largest Blockchain Center in Asia

Despite the recent hacking incident, where the Japanese cryptocurrency exchange lost $533 million worth NEM (XEM), the blockchain project is held in high regards by cryptocurrency investors and analysts.

The blockchain team’s Malaysian division opened the largest blockchain center in Asia. Furthermore, it has set aside RM500,000 (~120,000) for blockchain projects in the country.

The center will foster and accelerate startups and companies which needs information and guidance on blockchain technology and NEM integration in South-Asia region.

Stephen Chia, Malaysia NEM director, is of the opinion that very few people understand about blockchain technology in Malaysia and across the globe.

Stephen Chia said,

“There is not enough understanding and (not enough) people who know how to use the technology to build up solutions for companies to solve some of the world’s problems.”

Chia further stated that even universities and other schools lack awareness about blockchain technology. He wants school children to be taught about the trend in digital technology.

The overall mindset needs to change for blockchain technology to get adopted. The technical jargon makes the process of adoption much more difficult.

Chia said

“Today, more and more corporate companies are beginning to venture into this technology, simply because they have clients who request for it.”

The amount set aside will be spent on imparting continuous education for university students. Looking forward, the center aims to provide entrepreneurial incubation program for companies, which are looking for guidance on the use of blockchain technology in the country.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.