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.
Such a platform can be initially leveraged to service local small business markets, but later can be used to facilitate cross-border commerce. This could include simplifying other international financial services, such as cross-border letters of credit, or offering instantaneous international remittances.