NEM is a peer-to-peer cryptocurrency launched on March 31, 2015 and written in Java. NEM has a stated goal of a wide distribution model and has introduced new features in blockchain technology in its proof-of-importance (POI) algorithm. NEM also features an integrated P2P secure, multisignature accounts and encrypted messaging system and an Eigentrust++ reputation system. NEM technology is used in the private blockchain Mijin being tested by financial institutions and private companies in Japan.