Cryptocurrency Neom Coin to be listed Thursday on BitMart exchange

ANKARA/ISTANBUL

Neom Coin, a cryptocurrency developed by the company Neom Blockchain Technologies, will be listed on Thursday on the BitMart cryptocurrency exchange, according to a statement released on GlobeNewswire on Monday.

The company aims for Neom Coin to be used in the smart cities of the future, which will not work with ordinary, traditional currency or wealth management.

"People all know about smartphones, smart cars, and smart homes, but the tech industry is stepping up its game, so it's time to move on to the next round: smart cities and cryptocurrencies for the smart city," the statement said.

"Smart cities are cities that work entirely with blockchain technology and artificial intelligence," it added.

According to the statement, Neom Blockchain Technologies is a new generation technology platform and offering blockchain-based solutions.

The firm provides convenience to many traditional sectors with blockchain technologies, it said, adding that migrant workers, which is “both the biggest hidden power and one of the biggest problems of the global economy,” can send money to their families within seconds with 0% commission through the firm's Graphene Blockchain network.

According to the World Bank figures, migrant workers spent $25 billion for sending money worth $650 billion to their families last year, the statement noted.

International money transfer through traditional systems such as bank transfers and similar third-party applications, with high commission rates and slow transactions, are "outdated," it said, adding: "In systems created with Blockchain technologies, transfer costs are almost non-existent, and transactions are very fast."

Neom Blockchain Technologies, which the statement said also carries out studies in the Middle East, plans to provide services in the field of Blockchain and Graphene technologies in smart cities in the Middle East.

"As a result of our smart city plans and negotiations, we foresee to cooperate with several smart cities based in the Middle East in the first six months of 2022," it said.

In addition to blockchain technologies, the firm also provides services to smart cities in the field of graphene, the statement said.

"Graphene can be used in many areas such as food logistics, supply chain, production of solar cells, wearable electronic devices, health, electricity and electronics sector, defense industry, aviation, energy production and electrochemistry, it can change the world, with unlimited integration potential in almost all industries, it added."