Connecting all the local blockchains to form a global blockchain platform
NEXXONet, a global, multi-country, decentralized financial services blockchain based on linking all local/private (intra-country) blockchains
Some blockchain platforms believe that they can force a global blockchain onto local governments, without being locally licensed or regulated. However, we believe that a true global financial services blockchain can only be built from the ground up, by linking locally regulated blockchains onto a globally compliant blockchain.
As a result, we believe that the most realistic global blockchain financial services model must be built form the ground up based on private blockchains.
Why link multiple private blockchains?
Each country will have its own private blockchain that is compliant to regulations of each local monetary authority. Guidelines such as KYC, AML, OFAC, or risk management standards must be adhered to by NEXXO, one local country at a time. This is because in having a ‘one size fits all’ solution, it is not possible to be compliant across different regulatory bodies.
Furthermore, when being audited by a local central financial services or local government body, such entities would not allow another government to access its internal data, nor allow a foreign entity to monitor internal businesses or consumer transactions.
By linking all local intra-country blockchains onto a global blockchain, we will achieve the world’s first globally compliant blockchain powered financial services platform focused on small businesses.
Our objective is to build a highly versatile local/global financial services blockchain platform based on legal, secure, and compliant fundamentals. This approach enables us to interlink all local financial services networks to deliver the world’s first globally (internationally) compliant financial platform, focused on servicing micro and small businesses.
Such a platform can be initially leveraged to service local small business markets, but later can be used to facilitate commerce. This could include simplifying other international financial services, such as letters of credit, or offering instantaneous international remittances.