Maroo Blockchain Network Embeds South Korean Financial Regulations
A new blockchain network called Maroo has been unveiled to embed South Korean financial regulations directly into its protocol. Led by Hashed Open Finance, an affiliate of Hashed, the network's core feature is that when regulations change, every connected service adopts the new standards simultaneously.
Tiger Research, a Web3 market research firm, published a report analyzing Maroo's structure and potential applications. The report said compliance systems at South Korean financial firms are currently dispersed across each company's code base. As a result, companies must separately revise their systems whenever rules such as the travel rule are changed.
Maroo is designed to solve this problem by applying compliance standards at the blockchain level rather than within individual services. A 'Legal Oracle Committee' sets the regulatory data, while a 'Programmable Compliance Layer', or PCL, checks every transaction against those standards before execution. Transactions that violate the rules are blocked before they are recorded on the blockchain.
When regulations change, only the relevant parameters need to be revised for the new standards to be applied across all services on the network at once. Tiger Research said the structure could see strong use in South Korea, where virtual-asset transactions are required to transmit sender and recipient information regardless of amount.