NEMs' technology
NEMs offers a purchaser in any market a simple proposition.
In effect it says: Here’s every possible way of delivering your requirements
from a market of potentially millions of sellers. Each option is priced
individually and the seller(s) involved ranked by their reliability. Pay more
for guaranteed reliability or cut costs using providers who are still proving
themselves. That requires a new kind of marketplace.
Core principles
Any NEMs market needs to be organised around five key
principles:
- Instant entry to any market for any legal seller
- Personalised price construction
- Immediate purchasing, from priced, contracted,
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.
