Enterprise blockchain project NEM recently entered strategic cooperation with GUBI, the largest artwork database in China. The blockchain will now be used to develop online reviews, identity systems, and other GUBI functions. The blockchain’s native token XEM was also listed on BitoPro, a cryptocurrency exchange by BitoEX.
What Does the Gubi Partnership Include?
The largest Chinese database of artwork will now develop some critical functions like an identity system, online reviews and user and expert credit systems on the NEM blockchain. GUBI is a search engine designed for the artwork industry of China, which is based on image search and data mining technology. Users click on a picture of artwork with a mobile device, and the search engine matches their image with a collection of materials available in the GUBI artwork database.
GUBI has collected over 33 million pieces of antique data in the past five years with over 6,600 antique e-books. The platform has over 2,000 academics and more than 800 experts who have joined. Its partner, Gucn.com is one of the largest artwork retailers online in China which has 800,000 users and 1.67 million sales. A partnership with GUBI will bring a large database of artworks and a sprawling userbase to the NEM network. It will also help in promoting the use of blockchain in the art industry.
XEM Listed on Bitoex
While the NEM blockchain is diving head-on into the art industry, its native coin XEM is now being listed on more exchanges. Recently, BitoEX’s digital asset exchange BitoPro listed XEM, helping the coin reach the Taiwanese market.
BitoPro will enable users in Taiwan to buy XEM using the New Taiwanese Dollar, helping them trade more easily with their fiat currency. BitoEX CEO Titan Cheng called NEM an important benchmark in the blockchain sector.
NEM Taiwan head Flora Fang commented:
“We hope that through NEM’s public blockchain technology, we will be able to use the power of the world’s best intellectual asset platform to develop mature industrial applications and build smart cities for Taiwan’s economy and blockchain industry. Our new partnership with BitoPro reflects NEM’s deepening ties with Taiwanese talents. Now it’s really convenient that Taiwanese users can buy XEM with NTD, we’re looking forward to building win-win situation with BitoPro.”