Blockchain 101 – At NEST I/O with NEM

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A presentation was carried out by Blockchaintech explaining how cryptocurrency and Blockchain worked. The session was organized by NEST I/O that allowed Danyal Manzar, Zain Tariq, Hasan Ali and Asad Batla to lay the foundation of what blockchain is and how it can impact different industries. The session allowed detailed understanding on blockchian, decentralization over distributed ledgers and crypto currencies.

NEM Blockchain

Blockchain technology was presented as a digital innovation solution that is poised to significantly alter fintech, health-tech, regtech and inurtech based markets within the next few years. New Economy Movement (NEM) was discussed in the session in detail which was presented as solution for smart contracts and digital document verification.

NEM (XEM) a smart asset based platform makes it easier for developers to get into Blockchain technology and start using it rather then re inventing the wheel. Its similar to Ethereum but allows easy deployments and the learning barrier is significantly reduced.

blockchain, blockchain session, zain tariq

The session was conducted on Saturday and was free of cost. It was scheduled for 2 hours which went on much longer then expected. The session saw great response with the room filled to capacity.  It might be noted that future sessions will be possible with the next one to be presented at Szabist university.

They are planning to arrange more free of cost sessions like this on mining, discussing the impact of ICO in a decentralized economy, Smart Contracts and use cases to motivate people specially developers to start taking interest in Blockchain and solve problems by using this technology. Further development along the lines of trading can be discussed to understand how all the crypto currency exchanges work. Since crypto and blockchain is a relatively new concept in Pakistan its very important to understand how and why does this work and how it can benefit in the long run.

 

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