Wow, I had no idea bitcoin multisig was only client-based. It should indeed be blockchain (network) based so that visibility is equal for all parties. This looks big.
I hope NEM's next trick is to decouple from BTC.
I don't understand the difference between client-based and blockchain (network) based. Can you explain it in more detail please?
I don't have a lot of tech knowledge but I think I might be able to answer this. The NEM multisig is more like an API I guess. So any third party developer will be able to use multisig with any other developer's multisig. Where as with Bitcoin Coinbase had to develop their own version of multsig, and so did Greenaddress and so did every other Bitcoin company out there. They are all using their private version of multisig, all of which are very complicated and none of which are compatible.
Additionally because Bitcoin wasn't really designed for multisig at the start but it was kind of forced in there, it is very complicated to get working (thus the long and slow delay of people using it) but with NEM, the whole platform is being built from the ground up with the intention that multisig will be a core feature that other features will be built off.
The ease of use in NEM will be much easier in NEM. (Have you ever set up your own multisig account on your home computer using the Bitcoin client? Well, in NEM you can.)
Further more, the utility for multisig in NEM will be far greater with all the applications that will now be able to make use of multisig.
And another thing in NEM it is almost as easy to add 30 different people with 30 different accounts to multisig in NEM as it is to add 3, and just takes a minute longer.
