NEM Foundation Creates New Unit To Support Development Of Catapult Blockchain

Blockchain, News | June 24, 2019 By:

The NEM Foundation, a non-profit organization set up to promote NEM’s blockchain, and NEM Holdings, a not-for-profit company of NEM Ventures, have created a dedicated unit to support the ongoing development of Catapult.

In 2016, NEM developers partnered with Japanese blockchain startup Tech Bureau to develop Catapult, a full-featured blockchain engine delivering a new version of the NEM protocol for public and private networks. Catapult, which planned for release later this year, offers unique smart contract plugins to enable a wide range of capabilities, such as digital asset creation, decentralized swaps, advanced account systems, and business logic modeling.

The new unit, called NEM Studios, will assist in the delivery of a high speed, configurable and scalable blockchain solution to enterprises across the globe. NEM Studios, which will be led by David Shaw, will be responsible for the recruitment of an experienced CTO and a team of developers who will assist with the development of the Catapult Core protocol and API layer.

“We are thrilled to be creating a dedicated team to bring Catapult to life this year and support its development into the future,” said Shaw, who also serves as Chair and Trustee of NEM Holdings and Chair of the Investment Committee for NEM Ventures. “We will be looking to recruit the best in the business, with deep technology experience, and look forward to creating a more effective and scalable ecosystem for our community.”

According to the press release, NEM Studios will be contracted by the NEM Foundation under the newly introduced service provider model to deliver the go-to-market strategy for Catapult in advance of its launch later in 2019. A steering committee will lead the go-to-market strategy and comprise of David Shaw, Alexandra Tinsman, and Nate D’Amico.

“NEM Studios will be focused on creating a more user-friendly network that is built with the end user in mind,” said Alexandra Tinsman, President of the NEM Foundation. “Our collaboration with Nem Studios proves our commitment to creating a blockchain that can be leveraged across industries and scaled globally.”