The NEM smart asset system allows you to fully customize how you use the NEM Blockchain. First, your namespace defines your property space in a blockchain chain, where you can create your own mosaic and give users easy-to-remember names and more. Mosaic is the main component of intellectual assets that you can use to represent a number of simple things, such as: coins, signatures, status updates, and more. However, to create intellectual assets, NEM allows you to create addresses that act as mosaic containers that can be associated with multi-signature rules. An address can represent a user, for example, as the owner of an account, but can also be an individual asset, such as a document, song. You can then update the asset through a configured transaction.
