How will NEM profit from Mijin and Dragonfly?
Right now these two companies are promoting their 'own' version of NEM.
But who is going to market NEM to companies so they can use it?
What is the long term planning/mission of NEM? Why should a company choose NEM when they can choose a private ledger like Mijin or Dragonfly?
Real shame this was not answered. Probably THE question that decides NEMs path, and its followed by countless posts about price. Right now these two companies are promoting their 'own' version of NEM.
But who is going to market NEM to companies so they can use it?
What is the long term planning/mission of NEM? Why should a company choose NEM when they can choose a private ledger like Mijin or Dragonfly?
Jabo posted this nice explanation a couple of pages back:
So I think I get the Mijin-NEM link.
NEM is like bitcoin to Mijin, Mijin is like an alt-coin that depends on the NEM blockchain, correct??
NEM is like bitcoin to Mijin, Mijin is like an alt-coin that depends on the NEM blockchain, correct??
Mijin is a private fork of NEM, kind of the way a lot of altcoins are to bitcoin, but unlike many scam coins, it has a real purpose in the business world as it has been optimized to run on private networks. A Mijin chain and the NEM main chain don't interact in the same way Litecoin and Bitcoin don't interact.
But unlike Litecoin and Bitcoin, both NEM and Mijin share the same awesome set of APIs. So DF running a Mijin chain is now introducing NEM technology to a software platform that services over 5,000 companies, some of them are Sony, Panasonic, and Mitsubishi among others.
Does this mean that Sony will be making transactions on NEM? Not at all. Does it mean that they will even use Mijin as a part of their software suite? No, they might not even chose to turn that part of their software on. There are 0 promises here.
But, what it does mean is that it is possible they might someday use Mijin as in theory that service can very well be offered to them in the future as a blockchain service built into their software. And once they are doing that and they have started using the Mijin APIs for some private services on Mijin, they are a very small step away from pointing those same APIs at the NEM main chain for different services. That choice will be completely up to them though and if they do, it won't be happening this spring or summer I guess.
The next logical question is, if they/whoever reject using the NEM chain, whats plan B? Is there another meaningful use case?
Out of 5000 business, it would suck if all of them decided to not utilize blockchain services in someway or another especially if it was part of an enterprise software suite that they have already paid for.
Even if 80% hated it and only 20% decided to use Mijin, that would still be 1000 medium to large size companies. Just one large company would at this point be impressive to get it to use a blockchain, but 1000 is over the top.
And hopefully the main chain can build some services (remember it is a public chain hub) that would attract some of those 500 to also spend thirty minutes and point their code to the main chain too. Now if the main chain was even able to attract 5% of that 1000, that would still be 50 medium to large size companies. Which is about 50 more than most blockchains excluding Bitcoin have. :-)
Ask any other chain how they attempt to get 50 medium to large size companies to use their chain. I'm not sure if their answer will be nearly as plausible as the one stated here, especially since a deal has already been signed between DF and Infoteria, a deal that has taken 3 seasons and A LOT of meetings, some lawyers, and some tests to sign.
Now, none of this is a promise. So many things could go wrong, but there is a path and a plan here and it is being executed. It is a long game, so please stay tuned in.
