Nem is a distributed ledger platform which aims to provide a public and private blockchain for users while providing a wide-ranging collection of features. It offers multi-signature accounts and encrypted messaging (with push notifications). The multi-signature accounts are achieved through special contracts on the platform. Custom tokens, called Mosaics, as well as namespaces can also be created on the blockchain. Perhaps its most interesting feature is the reputation system it implements to rate nodes on performance, thus improving the general health of the blockchain. Mijin is a commercial blockchain that utilizes the NEM code and is being tested by various companies internationally. XEM is the unit of value of the NEM platform.
NEM is a peer to peer platform and it provides services like payments, messaging, asset making, and naming system.