NEMS is set to Release the ‘Symbol’ Blockchain

NEM (XEM, -7.53%) Enterprise has announced that it is executing the final test-run on its Blockchain dubbed Symbol, a DLT platform come 2021. It went on to reveal that its code for Symbol is currently “frozen”. This appears to be the last phase before the main-net goes live hopefully in 2021.

The Company has discussed how the brains behind its innovations have been working very hard these past years developing Symbol and its many public and private structural design peculiarities.

The CIO of NEM Group, Dave Hodgson, described how “created for enterprise use, Symbol is purpose built to be flexible to a suite of use cases, spanning regulated markets, supply chain, fintech, healthcare, government, and more,”

This upcoming release will make Symbol the maiden version come January 14 as it launches for immediate maximization by crypto investors, commercial enterprises and the likes.

The CTO of NEM Software, Kristy-Leigh Minehan, added that “As a hybrid network, Symbol offers a ‘best of both worlds’ scenario and more flexibility to businesses in how they manage and share data,”

The perk that Symbol’s hybrid nature offers is that, now commercial enterprises can gain from the transparency that public distributed ledger technologies allows. On the flipside, this blockchain also enables encryption to preserve business’s confidential data, and allows data restrictions brought by public blockchains.