NEM (NEM) Releases Fresh Update on Its Catapult Protocol Development
NEM Foundation, the Singapore-based non-profit organization responsible for developing and promoting the NEM blockchain network, has released a fresh update concerning the proposed Catapult protocol which is scheduled to go live in 2020, according to a blog post on November 2, 2019.
Repositioning NEM for Enterprise Adoption
Since making its plans to drastically overhaul its network known to its community, in an effort to make NEM a more robust, attractive and highly functional brand for both enterprises and existing users, the NEM Foundation has been working round the clock to make the Catapult upgrade a reality.
In its latest blog post, the NEM Foundation has highlighted some of the progress made so far in its journey towards launching Catapult in Q1 2020 and enables members of its community to see the project from a whole new perspective.
The Foundation said:
“Today the goal is to share a new way to look at Catapult from a different lens than the one you may be used to. It’s a glimpse at what the future of Catapult could look like in Q1 2020. This is a culmination of ongoing research, insight from community and partners and also an outside perspective on how Catapult might look with a new focus and refinement.”
According to the team, NEM and Catapult have entirely different codes, and the team says it has been collaborating with others to create a solid ‘brand narrative,’ brand characteristics, value proposition and key elements that will enable Catapult to stand out as a competitive brand fit for enterprises.
As reported by BTCManager earlier in June 2019, the NEM Foundation launched NEM Studios, to function as the back end development unit for Catapult. The team has also revealed that it recently inked a memorandum of understanding with David Shaw, Director NEM Studios, to conduct market research, bran exploration and try to formulate a “go-to-market strategy” for Catapult.
To achieve its goal, the Foundation created the Catapult Brand Steering Committee, which was comprised of Alexandra Tinsman. David Shaw, Lewis Farrell, Nate D’Amico among others.
The team says the committee has been working on the catapult brand proposal which will be shared with the community, ecosystem partners and others for feedback.
The Foundation has also hinted that it has engaged the services of highly reputed brand professionals including Katie Barber (Strategy and Program management), Dan Rowe (Creative Lead), and Don Bobby (Strategy Lead), to bring the Catapult brand to life.
“Catapult is focused on being a strong enterprise protocol platform, and we knew we needed to think about how we start to develop a brand and brand strategy,” added the team.