NEMs' technology
Imagine you want to go away this weekend. You want to hire a tent and somewhere to pitch it. A surf board and some tuition on the Saturday would be good. Wherever you go you'd like someone to drive you around and perhaps a massage at some point if affordable.
NEMs has to make that booking as easy as buying a book at Amazon.com.
Core principles
In the example above, NEMs would need to pull together all your options. That means drawing on anyone who might want to sell any part of your requirements. Each option needs to be priced, enforced and bookable in a couple of clicks.
Any NEMs market needs to be organised around five key principles:
- Instant entry to any market for any legal seller
- Personalised price construction for any asset based on the seller's own rules
- Immediate purchasing, from priced, genuinely available and contactable, sellers
- The system itself makes sure bookings are completed, for example by holding payment in escrow and monitoring reliability of sellers with dispute resolution tools
- Personalised data about market trends available to any user
This is all possible. But it needs a a new mechanism for online trade. This section shows how it might work.
