Nem (XEM)
Nem is being designed as a general purpose smart asset management system. Possible use cases can be tailored to individual customers, but could include fintech systems, tracking logistics, ICO's, document notarization, or decentralized authentication. Nem customers can use the Nem public blockchain, or have the option of creating permissioned private Nem blockchains running on their own servers.
Mining/Staking
NEM nodes work with other nodes to build the peer-to-peer blockchain network. This network creates and supports the blockchain itself. Nem's consensus is built on a unique Proof of Importance algorithm, using a technique similar to Google's PageRank to prevent a variety of attacks on the trustworthiness of blockchain transactions. It serves the same purpose as typical Proof of Work mechanisms, but is intended to be more scalable and energy efficient. This should allow nodes to run on almost any hardware, while still providing a secure and scalable network.
Development Team
We have no information about the development team, although Nem appears to be a primarily Japanese project.
Criticisms, Caveats, and Competitors
Nem's biggest weakness may be that some potential customers may look at alternative technology solutions which are more specifically tailored to their needs, rather than being broad-based and general purpose.
Additional Resources
The project's main website: https://nem.io
Link to Wikipedia Page: https://en.wikipedia.org/wiki/NEM_(cryptocurrency)
Link to Reddit Community: https://www.reddit.com/r/nem
Link to Twitter account: https://twitter.com/nemofficial
Link to Team information: N/A
Link to data on Live Coin Watch: https://www.livecoinwatch.com/coins/XEM
Whitepaper: https://blog.nem.io/nem-technical-report