London, Monday, 3 January 2022 -
According to a statement published on GlobeNewswire on Monday, Neom Coin, a cryptocurrency developed by the company Neom Blockchain Technologies, will be launched on the BitMart cryptocurrency market on Thursday.
Neom Coin will be adopted in future smart cities that will not work with traditional cash or wealth management, according to the business.
"Everyone knows about smartphones, smart cars, and smart houses," the statement stated, "but the IT sector is improving, therefore it's time to move on to the next round: smart cities and cryptocurrencies for the smart city."
"Smart cities," it said, "are cities that operate solely on blockchain technology and artificial intelligence."
Neom Blockchain Technologies, according to the statement, is a next-generation technological platform that provides blockchain-based solutions.
Many traditional sectors benefit from blockchain technologies, according to the company, which also claims that migrant workers, who are "both the biggest hidden power and one of the biggest problems in the global economy," can send money to their families in seconds with no commission through the company's Graphene Blockchain network.
According to World Bank data, migrant workers paid $25 billion last year to send $650 billion to their family, according to the statement.
Traditional international money transfer systems, such as bank transfers and similar third-party applications, with high commission rates and slow transactions, are "outdated," it said, adding that "transfer costs are almost non-existent, and transactions are very fast" in systems created with Blockchain technologies.
Neom Blockchain Technologies, which also conducts research in the Middle East, wants to deliver services in the field of Blockchain and Graphene technologies in Middle Eastern smart cities, according to the statement.
"We envision cooperating with numerous smart cities based in the Middle East in the first six months of 2022 as a consequence of our smart city plans and talks," it stated.
According to the statement, the company provides services to smart cities in the realm of graphene in addition to blockchain technology.
"Graphene can be used in many areas such as food logistics, supply chain, solar cell production, wearable electronic devices, health, electricity and electronics sector, defense industry, aviation, energy production, and electrochemistry, and it has unlimited integration potential in almost all industries," according to the company.
(Research and editing by: The Decision Maker – Banking & Finance editors)