Nuco to power communication between blockchains with ‘Aion’
Nuco, an enterprise blockchain company, has announced an interoperable blockchain network and a framework allowing communication between blockchains.
Dubbed “Aion”, the multi-tier blockchain network has been designed to support a future where many blockchains exist to solve unique industry problems. It will connect compatible blockchains operated independently to allow the instant, global transfer and recording of data and value. Nuco said that Aion has the power to transform cross-organizational functions like supply chain management, streamline communications between healthcare providers, and securely bridge government entities across the world.
“The hundreds of blockchains existing today will soon become thousands, then millions. Future adoption of this technology relies on a network of blockchains, both enterprise and public, and we’re on our way to achieving this mission,” said Matthew Spoke, CEO of Nuco and a founding board member of the Enterprise Ethereum Alliance. “Today’s blockchains don’t talk to each other at all. With Aion, blockchains will be able to federate, interoperate, and scale in a model similar to the internet itself.”
Nuco pointed out the key challenges to blockchain adoption, which includes scalability, privacy, and interoperability. These problems can be addressed by interconnected blockchains that can communicate and share data on a public scale. Aion will become the common protocol, enabling decentralized applications to be adopted on a mass scale.
“Blockchain technology will soon become integral to every industry’s infrastructure, and a framework for interoperability is critical to scaled adoption,” said Michael Tang, Head of Global Digital Transformation for Financial Services at Deloitte and an Advisor to Nuco. “As strong supporters of innovation in this space, we are eager to witness how Aion will help enterprise blockchains realize their enormous potential.”
According to the official release, the Aion network will use AION tokens – the fuel used to create new blockchains, monetize inter-chain bridges, and secure the overall network.
Nuco’s founding team first came together to create Deloitte’s blockchain practice in 2014, recognizing the need for standards to fuel enterprise adoption. Its advisors include Vitalik Buterin, Michael Tang, Scott Robinson, and Alex Tapscott. Advisors on the Aion project include New Alchemy, led by managing director Peter Vessenes, Co-Founder of the Bitcoin Foundation.
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