NEXXO: Private Permissioned Blockchain Solution Powered by IBM’s Hyperledger

featured – It is often said that small businesses are the backbone of the economy. The mom and pop shops, restaurants, and grocery stores help supply countries all over the world with millions of jobs as well as providing community support.

However, the challenge that most small businesses face today is one of limited access to capital. In fact, currently, most small businesses turn to banks to ask for a bank account, a loan, and other financial services such as point of sale, or ecommerce solutions to collect customer card payments, take orders online or pay employees via a payroll solution to employee bank cards instead of cash.

The challenge for small businesses is that Banks demand collateral, audited financials, references, proof of ID and other forms of documentation. Through the tiresome application process, only a very small number of businesses get the support they need to grow, while the vast majority are rejected simply because they are too small to add value to the bank’s balance sheet.

This problem exists for over 260 million small businesses around the world, which is why Nexxo has developed a blockchain solution that works with local banks and governments to help provide small businesses with the necessary tools (commercial bank accounts, loans, point of sale devices, ecommerce applications, financing, etc.) to succeed.

As a Fintech company built on IBM’s hyperledger technology, Nexxo operates in multiple countries, servicing 15k small business and 300k consumers.

Nexxo is launching a token sale from December 1st, 2018 – December 31st, 2018. Their presale began on October 31^st, 2018, and will end on December 1st, 2018. The company is aiming to raise a hard cap of $44,285,714.

Solution

Nexxo is offering a private permissioned, blockchain solution powered by IBM’s hyperledger. Features include decentralized computing, secured data and transactions, auditable transactions and audit trail, peer-to-peer infrastructure, distributed data ledger, immutable (tamper-proof) transactions, and a smart contract driven application platform.

Nexxo’s platform offers the following unique services to small businesses:

1. The Nexxo IBAN (International Bank Account Number)
   1. Bankcard solution for KYC’d small business owners, operators, and their employees. Enables small business owners and operators to get a bank account, to deposit and withdraw money from any bank ATM, or pay for purchases at any merchant POS (Point Of Sale) locally or internationally.
2. Smart-Android PCI Certified Point Of Sale (POS) solution
   1. Enables small businesses to process debit or credit card transactions. It also features various payment applications that are customized to the specific needs and requirements of small businesses.
3. Small business ecommerce solution
   1. Enables small businesses to grow their business by offering alternative selling channels, such as secure e-commerce shopping, to their customers.
4. Small Business e-Invoicing Solution
   1. Uses blockchain smart contract technology to build invoice contracts between the NEXXO small business owners, operators, and their customers or suppliers.
5. Mobile-Pay Payroll Solution
   1. Enables micro and small businesses to pay employees directly via a bank card, instead of manually tracking, managing, and paying employees in cash or via paper checks.
6. Micro-Financing solution
   1. NEXXO partners with a locally regulated lending entity and offers micro-financing or micro-lending facilities to qualified customers. Loans are issued through smart contracts, which are executed and then registered onto the NEXXO blockchain.
7. The Nexxo Mobile- Wallet
   1. Linked to a One-Time-Use prepaid card, with international remittance and NEXXO Token-to-Fiat conversion features. Works as either an independent mobile wallet product or can be linked to the NEXXO IBAN bank card.
8. Cash management solution
   1. Targeted primarily at micro and small businesses and enables them to pay employees directly via a bank card, instead of manually tracking, managing, and paying employees in cash or via paper checks.
9. Secure API integration Platform
   1. Offers API secured integration into all its services (with permissioned access), to enable its business partners, 3rd party providers, and small business customers to leverage the power of the NEXXO solutions
10. NEXXO fully complies with KYC, AML, and OFAC

NEXXONet

NEXXONet is a global, multi-country, decentralized financial service blockchain based on linking all local/private (intra-country) blockchains. This is done to ensure that regulatory compliance can be maintained globally with each local monetary authority. By establishing global compliance and linking with local financial services, Nexxo can best serve small business around the world with the tools they need to succeed. In the future, Nexxo aims to leverage this network not only for local small business markets but also for cross-border commerce (international remittances, cross-border letters of credit, etc.).

Nexxo Utility Token

Nexxo is issuing an ERC20 utility token, which will be used to reward ‘enablers’. Enablers are commissioned and trained parties that promote, market, and sell NEXXO solutions to their local small business communities. The token will also offer liquidity and gains to NEXXO token traders and speculators through crypto exchanges. Finally, the NEXXO Token offers various utility services such as coupons and discounts to token holders.

Furthermore, both Nexxo businesses and consumers that use the Nexxo issued bank card can accumulate points and loyalty points which can be used as reward tokens, for the purchase of goods and services from small businesses within the Nexxo ecosystem.

Token Distribution

Use Of Proceeds

• Invest and develop new partnerships to increase the Nexxo token buy-back program
• Expand into new countries as per plan
• Increase the network size of businesses and consumers serviced for each new expansion market
• Invest in banking partnerships, or apply for independent banking licenses in various new countries, wherever allowed
• Deploy the company’s growth capital into projects which support NEXXO Token appreciation