Announcing the Currency Code of NEM:
X E M 
This is just a currency code to be used on tickers and websites (Bitcoin is XBT, for example). Below is some information on currency codes, as well as an explanation of why we couldn't just use
NEM (NEM is still the name of our movement, so don't worry
).
The currencies on FOREX and other major international exchanges have three letters. The first two letters represent the countries international abbreviation. The United States is "US". The third letter represents the currency.
US (United States) + D (dollars) = USD
IN (India) + R (rupee) = INR
JP (Japan) + Y (yen) = JPY
CN (China) + Y (yaun) = CNY
SA (Saudi Arabia) + R (riyal) = SAR
ZA (South Africa) + R (rand) = ZAR
In this last example South Africa was not allowed to use (SA) because it was registered to Saudi Arabia. There for South Africa settled with ZA. It is a first come first served system.
These country codes are not just for currencies. It is the internationally recognized country code. These codes are used for things like websites too.
For instance the following.
http://www.state.nj.us/ = US website (New Jersey State)
http://www.mu.ac.in/ = Indian website (Mumbai Uni)
http://www.u-tokyo.ac.jp/en/ = Japanese website (Tokyo Uni)
http://en.shu.edu.cn/Default.aspx = Chinese website (Shanghai Uni)
http://ksu.edu.sa/ = Saudia Arabia website (King Saud Uni)
http://www.uct.ac.za/ = South African website (Capetown Uni)
Now here is the important part. "NE" is already claimed for the country of Niger. So if we say "NEM" people will think it is the official currency of a very poor country in Africa.
http://uam.refer.ne/ = Niger website (Niamey University)
Currencies/commodities that don't have a country start with "X" thus
XRP = Ripple
XBT = Bitcoin
XAU = Gold
XAG = Silver
