NEM Blockchain Project to Work with GUBI, the Largest Artwork Database in China
NEM, the international blockchain platform recently announced it would work with the largest artwork trading market and database in China, GUBI. The user and expert credit system, online reviews, and the identity system will now run the NEM blockchain technology.
Who Is GUBI
GUBI is the largest online marketplace and database for artwork in China. It is mainly used a professional search engine within China’s art world. The database is based on image search and data mining technology. Users are only required to take a picture of their art with a camera phone and the system will accurately match all the relevant materials in the database. In just five years, GUBI has managed to collect over 33 million unique pieces of art. It also has over 6,600 antique e-books in its collection.
There are over 800 experts and 2000 academics that are on the platform. Gucn.com, which is a GUBI partner, is one of the biggest e-commerce platforms for artwork inside China. The trading platform has about 800,000 users. There are about 1.67 million sales made on the 60,000 stores.
NEM And Blockchain Tech
NEM has had a commitment to blockchain tech development for many years. Compared with normal databases, the immutable, trustless, and distributed nature of the blockchain has helped to boost the credibility of data. By working with NEM, GUBI is hoping to create a database that is more credible for the artwork world. This partnership will also help to popularize blockchain tech in art. It will ensure that there is a secure environment in which the blockchain tech can be adopted.
The NEM Blockchain Platform
NEM is an enterprise-level blockchain platform. It was launched in March 2015. Since then, it has been able to add various leading features in the blockchain world. They include customizable assets, multi-sig account contract, encrypted messages, naming system, and the Eigentrust++ system of reputation. Even a company with a legacy system can plug and play with the NEM platform.
The NEM.io Foundation
The foundation was registered in Singapore and it has operations throughout the world. The foundation was launched with the aim of promoting the NEM blockchain tech globally. It is well funded and quite successful in the crypto world.
NEM Works Hard
NEM is one of the most active blockchain firms in the world. They are highly committed to developing the NEM network. They intend to use their collaboration with GUBI to promote their technology.
NEM is on the verge of becoming one of the most adopted crypto coins in the world. It recently announced their collaboration with Cardano and Ripple, which could turn out to be their best decision yet. The three companies will work together to help the EU create regulation for the crypto world. This way, the EU can fully utilize all the benefits of the blockchain tech.
Recently, NEM managed to be listed on BitoPro, which is an exchange run by BitoEx, based in Taiwan. This will help the adoption of NEM in South East Asia.