NEM is a blockchain platform designed for building and managing decentralized applications. It focuses on providing a user-friendly experience and offers features like smart contracts, multi-signature accounts, and a unique consensus algorithm called Proof of Importance. This makes it suitable for various industries, including finance and supply chain management. The native cryptocurrency of the NEM platform is called XEM. It is used for transaction fees and as a means of value transfer within the network. NEM aims to enhance security and efficiency in digital transactions, making it a popular choice among developers and businesses.