YEM Foundation Update: Key Developments and Future Plans for the YEM Economy


 

The YEM Foundation released an important update on October 1st, 2024, outlining the current situation and the future of the YEM economy. The Foundation, along with its National Directors, continues to pursue initiatives that benefit all YEM members.

 

Although some of these initiatives are not yet visible, they will unfold in the near future. A key focus of the Foundation is to address legal challenges that require funding, which complicates the process but remains necessary.

 

By: Safezone Expert

Reading time: ca. 3 Min.

 

 

A significant point in this update is the clarification that third-party entities are currently not allowed to develop services such as wallets, payment systems, or exchanges for the YEM economy. This decision was made primarily for security reasons, to protect YEM members.

 

YEMChain V2: Private Blockchain and Expansion Opportunities

Despite these temporary restrictions, the YEM Foundation clarifies that the development of such services is possible with prior approval. This approval ensures that all developments comply with the Foundation's strict security standards, particularly in view of the upcoming release of YEMChain V2, a private blockchain designed to ensure the safety and stability of the YEM ecosystem. The Foundation emphasizes that third-party entities will not be permitted to develop systems outside this private blockchain to safeguard the integrity of the platform.

 

Check authorized domains always here.

 

Key Questions and Answers for YEM Members

In addition to these announcements, the YEM Foundation addressed several key questions from YEM members:

  • When will YEMChain V2 be released?
    The exact launch date for YEMChain V2 is still uncertain, as it depends on several factors such as funding. However, the Foundation aims for a release in the first quarter of 2025.

  • Will YEM's value continue to be determined by an algorithm?
    Yes, YEM's value will continue to be determined by an algorithm, and no changes are planned. The details of this algorithm remain confidential.

  • Is a new valuation of YEM or a conversion to Swiss francs expected?
    This is also dependent on several factors, but the conversion could take place in the first quarter of 2025.

  • Will there be an API for YEMChain V2?
    Yes, there will be an API, but with strict limitations to ensure the safety and protection of all YEM members.

The Role of National Directors and Members’ Contributions

The YEM Foundation’s National Directors are actively working with key figures in their respective countries to present YEM as a solution to economic challenges. These efforts aim to build confidence in the currency and promote its adoption. The Foundation also calls on all YEM members to actively contribute to spreading the positive impact of YEM.

 

Conclusion

The YEM Foundation is on a clear path to further develop the YEM economy while ensuring the security of its members. With the launch of YEMChain V2 and strict guidelines for third-party services, the Foundation shows its commitment to the long-term stability and protection of the YEM ecosystem. The coming months will be crucial for YEM’s future, particularly in terms of legal matters and upcoming technological developments.

 

The YEM Foundation asks all members for patience and support, as these projects continue to progress and tangible results will soon become visible.

 

Read the Update here.

 

 


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