NEM Blockchain to Power Snap Interactive’s Backchannel Messenger Appbr>
Founded in 2005, Snap Interactive is a computer software and social media company. The company’s Backchannel app is expected to offer video-enabled secure messaging, and is expected to include advanced security features not presently offered by leading secure messaging apps, including anonymous crypto identity authentication, and distributed decentralized message routing that eliminates the security hazard of relying on a third-party middleman.
NEM.io Foundation is a non-profit organization based in Singapore, set up to promote the NEM blockchain globally. The NEM blockchain software has been implemented in uses beyond cryptocurrency. It’s best known for being used in a commercial blockchain called Mijin, which is currently being used by financial organizations in Japan and around the world.
Snap said NEM was selected because they believe that the technology is highly regarded in the blockchain industry, and a significant developer adoption has fueled the XEM coin to obtain a market capitalization ranking in the top 10 of all cryptocurrencies. It added that NEM’s node reputation system and native multisig capabilities provide the high level security standards required to meet the company’s design philosophy for Backchannel.
“After many months of experimentation with alternatives, it was time to commit to what we believe is the most appropriate blockchain technology for Backchannel,” saud Eric Sackowitz, SNAP’s Chief Technology Officer. “NEM offered the right combination of premier security, capability, flexibility and scalability coupled with a strong, passionate core development team and community.”
“We welcome SNAP to the NEM community, and look forward to supporting their team in making the Backchannel product initiative successful,” said Lon Wong, President of the NEM.io Foundation. “We are delighted that app developers like SNAP, who have served hundreds of millions of users around the globe, are embracing NEM technology.”