(Senmer News Wire)Recently, NGOM, the world’s first NGO blockchain project which has attracted much media attention, has come out and chosen to issue its token NGOT in Coinlink, the well-known trading platform in South Korea.
NGOM, which stands for NGO Management Protocol, is the world’s first blockchain technology-based NGO management protocol. NGOM aims to create a flexible consensus mechanism for the whole NGO ecosystem through blockchain technology and digital assets so as to help NGOs to complete their digital development process from single organizations to community alliances and eventually ecosystem collaboration and form a state of decentralized, intelligent, collaborative and consensus-based development.
Mr. Liu, Technical Leader of NGOM and former Chief Architect at Microsoft, said that the underlying protocol of NGOM forms a triangular structure of 3 modules. One is a trusted platform module which can enhance organizational transparency and credibility. Based on this module, any NGO can issue 3 types of tokens, namely MT, MCMT and MCBT. Every member’s action will be recorded on the chain and cannot be tampered with.
The second is an intelligent management module which can improve the operational efficiency of organizations and realize the decentralized management of business and financial data.
The third is an open source collaboration module. The NGO is a natural pool of resources, which can include connections, think tanks, business opportunities and so on. What NGOM needs to do is to connect and transfer resources through unified protocols and rules, and ultimately convert them.
There is unified collaboration between the 3 modules, forming a closed circulation loop. For example, if you need help for something, you can issue an instruction, which will enter the trusted platform module first. Based on the event attributes, the protocol will automatically identify concerned persons on the chain and subsequently enter the intelligent management module. It performs second-time target screening through the management book. Finally, organizational barriers are broken and the request for assistance is sent through the open source collaboration module.
Based on this, NGOM issues NGOT, a general token for NGOs. NGOT can be exchanged with the tokens of any organization, thus facilitating collaborative transactions between organizations.
Cong Yadong, Executive Vice President of China Information Industry Trade Association, remarked, “There is natural fit between NGOs and blockchain technology. The characteristics of decentralization, openness and credibility of blockchain technology are the core pain points which NGOs face in their development.”
As for why South Korea has been chosen for the issue of NGOM token, the head of NGOM’s Marketing Department said in an interview that NGOs enjoy a unique policy environment of government support and active public participant in South Korea, which ensures that flexible and innovative new models of development can be put into better play.
The Coinlink Exchange is also full of expectations of NGOM’s arrival in South Korea, stating, “Compared with numerous blockchain technology projects, we are more optimistic about blockchain application projects that have certain resources capacities and involve specific scenario segments. The potential of a currency lies in the value behind the chain. We only have one goal: we hope that our users can make money on our platform”.
For the blockchain project especially developed for NGOs, NGOM include talented team members who are not only computer engineers from Microsoft and Google, but also top-class experts in the fields of AI, cryptography, distributed storage and Big Data. Meanwhile, a star-studded advisory team of experts from the UN, APEC and other international organizations is also on hand for help.
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