Creators of the XEM digital currency NEM have announced that the company is to open two blockchain hubs in Australia and New Zealand.

The Australian hub will be located in Brisbane at Fortitude Valley and its New Zealand counterpart will be established in Westport. NEM Foundation’s director for Australia and NZ, Jason Lee, said that both hubs will be represented by a NEM staff member in place with a role to “educate and inform the general public and businesses about the benefits and applications of blockchain”.

The Australian hub is hosted by TravelByBit which promotes the use of cryptocurrencies in Australia’s tourism industry and has become a supporter of numerous businesses which accept Bitcoin and other digital currencies for food, services and travel around the country.

Caleb Yeoh of TravelByBit, who is also a board member of Blockchain Australia, welcomes the NEM connections and sees it as another positive move towards Australia’s wider cryptocurrency “education and adoption”.

The New Zealand hub in Westport, just a 45-minute flight from New Zealand’s capital Wellington, will also include a co-working space and will provide regular educational and engagement activities as well as a NEM incubation platform.

New Zealand’s Minister of State for Trade and Export Damien O’Connor is positive that such hubs demonstrate the country’s desire to be in the vanguard of promoting new technologies in the region. He stated:

“Blockchain development represents an exciting new frontier for startups in New Zealand and it’s great to see that going on in our regions with such strong international support.”

The XEM Foundation is now a feature of 47 countries around the world and the two regional hubs see themselves as key in being able to encourage local startups and to promote NEM’s Global Community Fund which currently has $ 300 million allocated to it annually.

Asian markets, primarily Japan and South Korea, will be encouraged by XEM’s new presence in Australia and New Zealand, giving the company a real foothold in Australasia.

 

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