The cryptocurrency, ‘$XEM’ (or NEM) is not the identical cryptocurrency that you simply knew in 2018 and earlier than.

It seems that NEM’s new president, Alexandra Tinsman, is the true deal.

This makes a serious distinction as a result of if NEM is underneath competent management and the group has the identical notion of its management (which it does presently through sentiment checks on their new president; particularly with their well timed ‘Catapult’ replace), then NEM might not solely ascend to its former prominence, there’s a probability it might shatter that ceiling.

Why is NEM’s President of Any Significance?

Nice query. For those who have no idea, NEM was in a state of disaster slightly over a month in the past:

Many thought that this was the top for NEM and rightfully so.

https://www.coindesk.com/nem-foundation-layoffs-xem-crypto

The coin had stagnated when it comes to its progress and relevancy for fairly a while within the crypto house and lots of points of the undertaking (and slated objectives on the roadmap) have been merely not coming to fruition in a manner the group had promised.

Nonetheless, the undertaking has finished an entire 180 since they elected their new president: Alexandra Tinsman

Who’s Alexandra Tinsman?

As said above, Alexandra Tinsman is the NEM Basis’s president on the time of writing.

She started her position on January 1st, 2019, after being elected by the NEM group.

You may view her formal announcement for candidacy right here: https://discussion board.nem.io/t/alexandra-tinsman-for-president/20441 (November 2018)

Alexandra Tinsman’s official acceptance of the position of president of the NEM Basis may be discovered right here: https://nemflash.io/message-foundations-president-alexandra-tinsman/

Her LinkedIn profile may also be discovered right here: https://www.linkedin.com/in/alextinsman/

Earlier than assuming the position of president, Tinsman was NEM’s North American Regional Head for roughly two years.

Earlier than that, it seems that Alexandra Tinsman ran her personal consulting agency, referred to as ‘Tinsman Consulting’ for a number of years. Thus, Tinsman brings a wealth of verifiable skilled expertise along with her into her new position as president.

Whereas working for president of NEM, Alexandra Tinsman launched a video on YouTube that outlined three main objectives that she has for NEM sooner or later shifting ahead.

That video may be considered beneath:

Within the description of the video, Tinsman notes her three objectives, that are as follows:

“ One, we’re going to launch the catapult highway map, together with transition plans, financial tuning, and sustainability plans. I promise to launch the Catapult highway map by the top of the primary quarter 2019.

Two, we’re going to get our builders the individuals and help they should be nearly as good or higher than the opposite prime cryptos. We could have measurable objectives towards this for Q1 and the remainder of 2019.

Three, we’re going to add transparency and accountability to the muse. We’re going to replace and launch the bylaws so we not have gridlock.”

Objectively talking, the video reveals a surprisingly polished, articulate particular person with a well-prepared proposition to the NEM group.

The rationale why that is shocking is as a result of the easy, non-equivocal {and professional} nature of the proposition offered within the video linked above stands in stark distinction to a number of the different considerably much less formal, impromptu movies which have been launched by different famous group leaders within the cryptocurrency sphere in current months.

Under Are Some Examples:

  1. (Justin Solar) https://www.youtube.com/watch?v=0NkDSivIaHA
  2. (Roger Ver) https://www.youtube.com/watch?v=oCOjCEth6xI
  3. (Charlie Lee) https://www.youtube.com/watch?v=SjroEMdklOU

As one can see, the general public statements and appearances by the above listed people are of a considerably decrease high quality than what Tinsman offered in her marketing campaign video.

Whereas many could also be inclined to miss such intangibles of their undertaking’s management, this shouldn’t be finished as a result of:

  1. The difficulty of whether or not a given undertaking’s expertise is ‘decentralized’ or ‘centralized’ is neither right here nor there for many mainstream traders. As a substitute, the perceived energy of a undertaking’s management will likely be an element that’s closely factored right into a potential investor’s choice. Thus, a robust chief that’s visibly assured with sturdy oratory and inter-personal abilities may be the distinction between a undertaking buying substantive partnerships that may assist speed up its adoption and a undertaking that eternally stagnates with none clear course.
  2. Falling according to the purpose made in #1, many initiatives have missed vital advertising/promotional alternatives as a result of fallacious concept that coders, programmers, and builders of a undertaking also needs to be those which can be on the undertaking’s ‘entrance’. Whereas there are some well-known situations the place this has labored out (i.e., Invoice Gates), there are exponentially extra circumstances the place this has led to catastrophe. Particularly, Charlie Lee’s interview serves as a cogent instance for why this philosophy has additionally failed in crypto as properly. This doesn’t imply that Charlie Lee is unintelligent, incompetent or incapable — however it does imply that Charlie Lee was a poor option to signify Litecoin on nationwide tv to (probably) hundreds of thousands of viewers. Roger Ver, whom is definitely an awesome orator and marketer, completely broken his fame by dropping his cool throughout an interview with a member of the cryptocurrency group. His blow-up will likely be held towards him within the crypto group for the foreseeable future.
  3. Whereas a undertaking’s most ardent supporters might declare to “care in regards to the tech”, most retail traders don’t. Many retail traders wish to really feel safe of their choice to spend money on a given undertaking. With a view to achieve this confidence, many retail traders will take a look at a undertaking’s basic components, corresponding to their management and the undertaking’s professionalism quite than the ‘whitepaper’. That is doubly true for traders that aren’t essentially technically inclined.

Thus, it can’t be understated what a great profit it’s for NEM to have a person like Alexandra Tinsman that may present a relaxed, eloquent face to their enterprise operations.

NEM’s Sweeping Adjustments for the Higher Since Tinsman Took the Reigns

As famous above, NEM was basically on fireplace earlier than Tinsman bought within the driver’s seat.

Apparently, earlier than Tinsman had taken the reigns as president of the NEM Basis (January 2019), there have been few accounting measures employed by the group (therefore her pledge to deliver larger transparency to the undertaking). This led to huge overspending in addition to an inefficient allocation of funds by the NEM Basis earlier than Tinsman arrival.

Nonetheless, with out losing any time, it seems that the NEM Basis, led by Tinsman, was capable of efficiently determine and reveal the difficulty in lower than a month after their installment.

The NEM Basis press launch (titled ‘message to the group’) that addresses these points may be discovered right here: https://discussion board.nem.io/t/nem-foundation-message-to-the-community/21753

The Basis didn’t sugarcoat the state of affairs at NEM in any respect, stating that:

“ When the brand new council arrived on January 1, 2019, we opened the books and noticed the outcomes of 2018. We noticed loads of proficient individuals who have been working laborious, however not aligned with the identical objectives. We noticed efforts being duplicated, and inconsistent metrics of success. We noticed little or no accountability for funds and questionable ROI, resulting in a burn fee of 9 million XEM monthly. By way of working an efficient group, the present construction failed. Possibly that didn’t seem to be an enormous downside when the XEM worth was excessive, however it’s a really huge downside as we search to maintain a viable group within the ‘Crypto Winter.’”

In the identical launch, the NEM Basis additionally introduced the adjustments that they made to NEM’s organizational construction and operation because the new regime was established:

“ We have now utterly rebuilt the NEM.io Basis’s working construction and mission. We’re hitting refresh and ranging from scratch. This implies a brand new focus underneath this new management and a NEM Basis that actually exists to serve and help its highly effective group.”

“The NEM Basis has restructured to get rid of regional groups and change them with newly created product-focused groups. All Basis staff and contractors will now report back to one of many seven product groups. The heads of those groups are Chief Expertise Officer, Chief of Product Administration, Chief Monetary Officer, Chief Enterprise Growth Officer, Chief Operations Officer, Chief Advertising Officer, and Chief Income Officer.”

“[We] are vastly decreasing promotional spending and we’re including an aggressive set of objectives for tech product options, developer instruments, and programmers that may assist make the NEM platform the most effective within the business. We’re additionally including plans to be sustainable.”

“We’re proposing a price range with a burn fee diminished by about 60% from its earlier stage. It will enable the Basis to ship bold outcomes with accountable use of reserves. This price range shouldn’t be but confirmed, and there are extra steps forward earlier than we have now the funding wanted for these plans.”

As a part of its conclusion, the NEM Basis additionally reassured its group, stating:

“ Now the great half. We will clear up this. Within the face of this unhealthy information, there are superb prospects. NEM’s expertise continues to be among the many greatest for builders seeking to construct enterprise purposes, and our new focus goes to push us even additional forward within the business. Our new options will unlock makes use of, prepared in months, that companions have been asking for for years. Our partnerships and enterprise growth efforts will now have full transparency and ROI reporting. Our groups will likely be aligned on objectives. Our Finance and Product Growth groups could have plans on precisely the way to maximize the advantages of the subsequent bull market.”

After the primary main announcement was launched by the NEM Basis (January 30th), which detailed the big monetary hurdles that lay forward for the undertaking, CoinDesk propagated the information in a scorching report that basically referred to as the competency and integrity of the whole NEM Basis in query.

Whereas it’s price noting that information of NEM’s potential impending monetary insolvency was not ‘leaked’ however quite divulged by the group, the concept NEM was on the point of chapter was a headline and takeaway that unfold like wildfire all through the crypto group. Thus, the group’s said resolve to quell the state of affairs was basically buried beneath the extra sensational notion that NEM was ‘bankrupt’.

Given the bearish worth motion of the crypto market over the prior 12 months main as much as that time, it was straightforward to border NEM as ‘yet one more sufferer of the crypto bear market’.

It was at this level that the newly instituted NEM Basis, headed by Tinsman, was confronted with its first ‘PR disaster’.

NEM’s Worth Additionally Suffered Enormously as a End result

To make issues worse, the already financially depleted NEM Basis needed to cope with a -17% loss within the cryptocurrency’s market capitalization within the rapid aftermath of the sensationalized media headlines:

Alexandra Tinsman

NEM got here again with a swift response as Tinsman confirmed off her management chops early on into her tenure as president at NEM.

Particularly, the NEM Basis responded by releasing yet one more announcement (January 31st, 2019) simply 24 hours after their preliminary one and in lower than 12 hours from the publication of the CoinDesk piece, which addressed issues introduced up within the CoinDesk article whereas preemptively answering different questions that the Basis anticipated can be requested by the group if that they had not been posed already.

The hyperlink to this piece may be discovered beneath:

https://forum.nem.io/t/nem-foundation-update-a-response-to-questions-and-anticipated-questions/21776

On this publish, the NEM Basis basically confirmed that poor accountability for funds underneath the earlier management had led to and exacerbated the undertaking’s dire monetary state of affairs.

That is indicated by the next assertion within the announcement by the NEM Basis:

“When the 2019 Council took workplace, a monetary audit was finished and confirmed the brand new management had low operational funds and due to this fact couldn’t maintain the burn fee of the earlier 2018 operations. Due to this fact, a brand new Basis restructure proposal was created and operations and workers have been suspended till further funding was secured.”

To the Basis’s credit score, they have been extraordinarily clear about their monetary state of affairs in stating [as a response to the mock question, ‘Is NEM Foundation really bankrupt?’]:

“ No, the present Basis shouldn’t be bankrupt. We’re working low on XEM and FIAT funds. The 2019 Basis is presently making ready a plan to realize funding for the remainder of the fiscal 12 months and the restructure was place as a cost-saving measure.”

General, the announcement was candid in its responses to the mock Q&A that it offered for its members. The questions have been hard-hitting and the responses have been direct.

But, on the identical time, the NEM Basis was tactful sufficient in its responses to its mock Q&A to keep away from throwing the previous NEM Basis members and president (Lon Wong) ‘underneath the bus’ for his or her obvious poor administration and oversight of the NEM Basis’s funds.

NEM Basis’s Funding Proposal

Simply 5 brief days after the NEM Basis had quelled fears about its capacity to stay solvent within the close to future, the NEM Basis printed the next proposal for its group:

Alexandra Tinsman

Within the proposal, the group offered extra in-depth info concerning its ‘proposal deck’, details about the deck, in addition to directions on how group members might vote.

Once more, this served as yet one more instance of how proactive the brand new NEM Basis has been since its inception on January 1st, 2019.

NEM Curated a Resolution to Deal With Their Monetary Difficulties in March

In an announcement that was launched by the NEM Basis on March ninth, 2019, extra info was given to the group in regards to the monetary options that NEM had been capable of supply as much as that time limit. The announcement additionally contained updates on the ‘Catapult’ replace for the NEM protocol, in addition to details about the “arrange of the transformation group”.

That announcement may be discovered right here:

The group additionally had this info shared on CoinDesk on CoinTelegraph as properly (the 2 hottest crypto information publications within the house presently).

NEM Releases Their Catapult Roadmap On Time

On March 29th, 2019, NEM efficiently launched their Catapult roadmap (which was truly forward of schedule as most had it slated to be launched by the top of the month on March 31st, 2019).

The group response was notably optimistic in lots of NEM’s communication channels with many praising Tinsman’s efficient management abilities.

Under is an instance:

The Affect of Alexandra Tinsman

In gentle of the most important accomplishments and progress made by Alexandra Tinsman and the NEM Basis, it appears truthful to state that there has not been sufficient credit score that has been given to Tinsman for her management. Not solely has she saved NEM from basically dying a gradual loss of life (as a result of insolvency), she has additionally offered a mannequin for transparency and governance that different initiatives within the cryptocurrency house may benefit from adopting.

Under are some notable accomplishments by Alexandra Tinsman throughout her brief tenure as NEM Basis President to date:

  1. Alexandra Tinsman basically revamped and reworked the NEM Basis in order that it could handle its funds in a considerably extra environment friendly method. This has derived from a restructuring of the NEM Basis’s priorities, objectives, and organizational composition in a manner that has resulted within the Basis having the ability to lower your expenses and use the cash that they do spend in a extra environment friendly method.
  2. The extent of transparency that the NEM Basis has adopted because the time of Tinsman’s inception as president is evening and day totally different from what it was beforehand. Alexandra Tinsman has efficiently revamped the Basis to make it way more responsive, polished, and arranged in addition to constant in its communications to the NEM group. On this manner, Tinsman has remained true to her phrase to deliver larger transparency to the Basis as an entire.
  3. Alexandra Tinsman confirmed extremely bravery and integrity in directing the Basis to reveal particulars about its monetary state on the finish of January (2019). As many on this house know, the NEM Basis actually was not required to reveal this info to the broader crypto group (and the NEM group, particularly). Tinsman maybe might have even opted to solely current a choose portion of monetary details about the NEM group that omitted particulars in regards to the group’s monetary troubles. However that isn’t what Tinsman did. As a substitute, she took on the duty of informing NEM traders of the reality, despite the fact that she knew that fact would lead to widespread backlash, criticism, ridicule, and ire. The group was additionally tempered in its response, abstaining from pointless hyperbole or minimization of the state of affairs. The group was additionally cautious to notice that they weren’t in a state of panic or uncertainty, however quite they have been patiently in search of options. The press launch additionally confirmed a excessive stage of poise and mature restraint in resisting the temptation to ensure solvency. If something, the NEM group ought to at all times check with the NEM Basis’s dealing with of this case if any outsiders are cautious of Tinsman’s management abilities. There are Fortune 500 CEOs that might not have dealt with that state of affairs with the identical tactful, strategical precision that Alexandra Tinsman used.
  4. Underneath Tinsman’s course, the NEM Basis (in addition to Tinsman herself), have been extraordinarily fast to reply to any and all media scrutiny following the NEM Basis’s voluntary disclosure of their monetary standing. As famous above on this report, it took lower than 24 hours for the group to formulate a cogent response to questions, issues, and skepticism from the crypto group at giant.
  5. Underneath Tinsman’s course, the NEM Basis has not solely displayed an unparalleled stage of true transparency (within the crypto house), they’ve additionally been (efficiently) proactive in curating an ample resolution to resolve their monetary points in addition to different dilemmas they’ve confronted.
  6. Tinsman has finished extra than simply tackle the NEM Basis’s monetary troubles; she has additionally spearheaded the revitalization and revamp of the NEM Basis to run in a way more sensible and environment friendly method. As famous in one of many earlier NEM bulletins, the undertaking’s burn fee was so nice that insolvency would have been inevitable had it not been for a whole monetary transforming. It now seems that the NEM Basis has been capable of resolve this concern and that their new mannequin for monetary accountability will be sure that they keep away from such points sooner or later.
  7. Underneath Tinsman’s lead, NEM has efficiently printed an up to date roadmap for ‘Catapult’. Not solely was Tinsman capable of set a definitive timeframe for when this is able to be accomplished, she ensured that the NEM group made good on their promise by delivering even sooner than anticipated.

Alexandra Tinsman Has Modified the Tradition of NEM

Readers ought to observe that this piece shouldn’t be overstating Tinsman’s accomplishments.

What Tinsman is doing is revolutionary within the crypto sphere. At present, most initiatives are devoid of transparency. The few which can be clear ultimately not often complement this attribute with a way of accountability that conveys that the group feels some sense of duty for the destiny of its traders.

Quite the opposite, Tinsman has modified NEM’s philosophy to account for its traders. In contrast to different initiatives which have created immense separation between themselves and their respective communities, Tinsman has closed that hole and embraced the extra conventional setup seen in regulated markets the place corporations think about the opinions of their stakeholders and ship common reviews that replace them on the standing of their funding.

Additionally, by releasing the up to date Catapult roadmap as promised, Tinsman has established the precedent that NEM, underneath her management, may be relied upon to ship on its guarantees. This can be a vital consider assessing the viability of a undertaking for traders and potential builders within the cryptocurrency house.

Conclusion

This report was written as a PSA to the group on behalf of NEM. Not as a result of the creator is tied to NEM in any manner (the creator was not paid by NEM or any affiliated entity and has by no means held the foreign money earlier than and wouldn’t profit or be adversely affected by the undertaking’s success/failure), however as a result of the reality is the one narrative that ought to exist in the neighborhood.

It’s uncommon that we at Zerononcense have an opportunity to cowl optimistic developments within the crypto group. With the plethora of scams, incompetent administration groups for crypto initiatives, and basic lack of professionalism that has been allowed to run rampant within the crypto sphere, NEM’s revitalized construction, management, and group steering ought to be given extra consideration.

Sadly, as a result of slew of adverse headlines that adopted the undertaking’s public disclosure of their monetary difficulties in late January 2019, many in the neighborhood determined to write down off NEM.

Nonetheless, it seems that the group did so with out considering how a lot of a sport changer efficient management may be.

In closing, the creator finds it necessary to remind readers that this piece shouldn’t function monetary recommendation of any kind. Nonetheless, the creator does wish to state that NEM is price observing all through 2019. This undertaking is way from ‘lifeless’ and it seems that Alexandra Tinsman is on a mission to assist NEM lastly embrace its full potential.

Zerononcense needs the most effective of luck to Alexandra Tinsman on her journey.

Written by ProofofResearch



Read the original article here