NEM Whitepaper - Catapult and Apostille

NEM Whitepaper - Catapult and Apostille

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Currency
NEM
Symbol
XEM
Founders
UtopianFuture (pseudonym)
NEM Catapult
A major challenge for financial institutions is the inherent inefficiencies of multiple ledgers within their systems. A blockchain solution with multiple ledgers for multiple assets provides a transformation approach to addressing this issue. We present the all new Catapult blockchain solution platform based on the original NEM technology and concepts. An open platform, the solution is designed to bring down the cost of implementation and ownership, and is a solution that will power the present and future needs for blockchain driven solutions. The Catapult solution is architected to allow for easy integration with most applications, and therefore is agnostic to existing banking standards. It allows for interoperability between blockchain instances thereby permitting shareable and non-shareable data to co-exist in a homogenous environment. This paper is intentionally written to address a wide spectrum of readers.

NEM Apostille
Many times tamping services exist in one form or another in the blockchain sphere, but most of these are simple first generation systems for hashing a document to get its fingerprint and then time stamping that fingerprint in the blockchain with a transaction. These are one-off fixed transactions that have their reason to be culminating in being included in a block so that later they may be audited. These 1.0 timestamps are not updatable, cannot be transferred from one owner to another, and cannot have additional value and assets attached to the timestamp. Apostille, as the first 2.0 blockchain notarization service, solves these problems and offers a new set of features and business opportunities.

The Apostille system’s key innovation is taking data which represents an underlying person, place, or thing and giving that data its own private key derived deterministically from its contents. This is used to create an account that represents the state of that object. These are dynamic accounts that can be used to prove authenticity, show ownership, and record updates, as well as be branded, transferable and conjointly owned.
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