NEM Reorganizes Non-Profit Foundation Amid Token Price and Funding Woes

Blockchain asset management platform NEM (XEM) announced it had completely reformed its non-profit NEM Foundation amid financial difficulties in an announcement Jan. 31. The Foundation, which previously had a budget with a monthly burn rate of 9 million XEM (~$392,000), now plans to spend less than half that amount, as a new streamlined entity aims to cut costs. “The NEM Foundation has restructured to eliminate regional teams and replace them with newly created product-focused teams,” the announcement explained. Summarizing the changes, NEM confirmed that the “NEM Foundation you knew before…

New York Economic Dev. Non-Profit NYCEDC Opens Blockchain Center

The New York City Economic Development Corporation (NYCEDC) has announced that it is opening its Blockchain Center in Manhattan, Bloomberg reports today, Jan. 10. The organization told reporters that the center is part of a partnership with international trade organization Global Blockchain Business Council and affiliates of New York-based venture capital fund Future Perfect Ventures. Located in the Flatiron District of Manhattan, the 4,000-square-foot center will reportedly offer blockchain-oriented educational services to the general public, such as programming classes to lectures for software developers. Ana Arino, chief strategy officer at…

MoonX to launch decentralised non-profit trading platform for cryptocurrencies

The Switzerland-based technology startup MoonX is hoping to attract investors and traders from India as it plans to launch decentralised non-profit trading platform for crypto currencies by the end of November.  “MoonX allows members to collectively participate and contribute and in turn rewarded with Moon Money, equivalent to shares and voting rights within the company. One can be a part of MoonX family by just trading on the platform once,” said Nithin Palavalli, founding chief executive of the venture. MoonX will have development centres in Bengaluru, London and Beijing. It…