NEM Ventures Announces its First Investment in IoDLT

NEM Ventures, the funding and investments arm of the NEM blockchain biological system, has declared its interest in investing in IoDLT. Internet of Distributed Ledger Technologies (IoDLT) uses IoT and NEM blockchain to give flexible, practical B2B arrangements that automate ways to deal with safely recording sensor-based IoT information directly to a distributed, permanent and trusted record.

This can be read from the below twitter link –

NEM Ventures, Director and co-founder David Mansell, said:

We see huge potential in IoDLT and are thrilled to be investing in a start-up with significant potential for scalability. Facilitated by NEM Catapult, IoT devices connected directly to the blockchain will have a wide array of industry applications. We’re excited to be at the intersection of blockchain and IoT, and to see first-hand the solutions that can be put in place to increase business efficiency and security.

NEM‘s first venture was in Vimba, a New Zealand based start-up. Furthermore, Dave declared NEM’s next investment would be on the Internet of Distributed Ledger Technologies (IoDLT), a B2B blockchain and IoT-based start-up. 

Moreover, IoDLT’s main product is a small structure of IoT device which provides a NEM Catapult hub or whole private chain to permit direct association of different sensors and processing ability to a Catapult chain. This gives the full usage of a blockchain arrangement at a small amount of expense and can be utilized in a public or a Private Chain situation. 

IoDLT’s will empower any business to use NEM Catapult’s distinctive features, including decentralized swaps between organizations, on-chain account frameworks, user data management, two-factor validation, and secured business rationale modeling. Moreover, with security and decentralization has the cutting edge, IoDLT has a severe no central server arrangement and all information is stored secretly, in distributed storage, or openly on the blockchain, and is encoded to guarantee utmost data integrity. 

IoDLT’s answers highlight sensible executions of the NEM blockchain and IoT that integrate consistently into officially established business activities, with phenomenal applications over the AI (Artificial Intelligence), Insurance, healthcare services, protection, manufacturing, supply chain, accounting industries, alternative energy metering, and agriculture. 

IoDLT plans to launch an innovative blockchain and IoT healthcare management services by next year, by utilizing NEM Catapult to encourage patient management, decentralized records, Internet of Medical Things, perceptibility, and administration activities.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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