Altcoins News

Story: NEM Confident Of a System That Will Combat Skimmers Shimmers and Everyone Else In Between

By Maheen Hernandez

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NEM currency has been trading 1.2% upwards versus the USD.  Over the past 7 days, the currency has traded up 2.5% versus the USD.

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The XEM is based on the Proof of Importance (POI) Protocol, making use of the ProofofImportance hashing algorithm.

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NEM has been helping clients build the system they want, whether in the Fintech system, tracking logistics, ICO document notarization, decentralized authentication, and others.

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The Smart Asset System from NEM helps businesses build a lot of real-world applications for real-world use cases.

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The platform architecture of NEM is meant to facilitate flexibility and simplicity in the development process. 

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Catapult is the core engine of NEM representing the most secure and practical blockchain suitable for any kind of Business Data.

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Catapult is said to help with combating ATM skimming.  The security and transparency of the blockchain are used to ensure automation and unbiased reporting from IoT.

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Placement of skimmers and shimmers with the proprietary IoT Skin on the ATM in a way to cover all areas of interest, including the inside of the cabinet, thus providing for…

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When the IoT skinner identifies unrelated objects near the card reader or keypad, the ATM owner is notified to examine the ATM for skimmers.

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The IoT skin will have coding in place to differentiate between ordinary and fraudulent situations.

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