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Nuco

Topic: Company

 From HandWiki - Reading time: 3 min
Nuco
HeadquartersToronto, Ontario
Area servedWorldwide
IndustryBlockchain
ProductsEnterprise Blockchain Platforms
Websitenuco.io

Nuco Inc. is the developer of the Nuco enterprise blockchain platform and a founding member and director of the Enterprise Ethereum Alliance. It is headquartered in Toronto, Ontario. It is backed by Bessemer Venture Partners.

History

Nuco was started by three Deloitte blockchains leads in 2016[1] to deliver blockchain technology into mainstream enterprise environments. It focuses on solving pain points primarily through disintermediation and reducing friction in complex business processes.[2]

It is funded by Bessemer Venture Partners, XDL Capital Group and Plug and Play.[3]

It's advisory board includes[4]

  • Vitalik Buterin, the founder and inventor of Ethereum,
  • Dennis Bennie, the director of XDL Capital
  • Michael Tang, Deloitte Head of Global Digital Transformation for Financial Services
  • Alex Tapscott, Co-Author of Blockchain Revolution
  • Tony van Marken, Partner at The OpenText Enterprise Apps Fund

Product

The Nuco platform is a modular kernel designed from the ground up to minimize development overhead in an enterprise environment. It offers consensus, VM and API modules that solves a wide array of enterprise problems.[5] It allows developers to write Turing-complete code compatible with the Ethereum VM. It also provides unique implementations of the Byzantine Fault Tolerance and Proof of Work algorithm that are optimized for enterprise environments.[6] Additionally, Nuco provides a set of tools to significantly simplify the development and administration of blockchains in enterprise usage.

Notable Projects and involvements

In May 2017, Nuco announced an collaboration with the TMX Group on natural gas settlements for its NGX business line.[7]

It is a founding member of the Blockchain Research Institute in collaboration with IBM and the Government of Ontario [8]

In February 2017, Nuco become a founding member of the Enterprise Ethereum Alliance[9]

Nuco advises the Ontario Securities Commission in its policies regarding cryptocurrency and Initial Coin Offerings (ICO).[10]

In the fall of 2017, Nuco created the Aion Network with the mandate to build a multi-tiered blockchain focused on interoperability, connecting public and private blockchains.[11] Aion raised $22 million USD to build the first interoperable blockchain network.[12]

References

  1. ↑ del Castillo, Michael. "Deloitte Blockchain Leads Depart to Launch New Startup". http://www.coindesk.com/deloitte-blockchain-leads-nuco-startup/. Retrieved 22 June 2017. 
  2. ↑ Prisco, Giulio. "Deloitte Team Launches Custom Blockchain Solution Rubix Core". https://bitcoinmagazine.com/articles/deloitte-team-launches-custom-blockchain-solution-rubix-core-1463687003/. Retrieved 22 June 2017. 
  3. ↑ "Nuco's Investors". https://www.crunchbase.com/organization/nuco/investors. Retrieved 22 June 2017. 
  4. ↑ "Nuco Advisory Board". https://www.crunchbase.com/organization/nuco/advisors. Retrieved 22 June 2017. 
  5. ↑ "Nuco Architecture". https://nuco.io/documentation/docs/generalconcepts/package-index.html. Retrieved 22 June 2017. 
  6. ↑ "Consensus Algorithms". https://nuco.io/documentation/docs/generalconcepts/consensus.html. Retrieved 22 June 2017. 
  7. ↑ Quinn, Shane. "TMX Group Develops Blockchain Prototype for Energy Business". Market Watch. http://www.marketwatch.com/story/tmx-group-develops-blockchain-prototype-for-energy-business-2017-05-24. 
  8. ↑ Willms, Jessie. "Don Tapscott Announces International Blockchain Research Institute". http://www.nasdaq.com/article/don-tapscott-announces-international-blockchain-research-institute-cm762234. Retrieved 22 June 2017. 
  9. ↑ del Castillo, Michael. "Big Corporates Unite for Launch of Enterprise Ethereum Alliance". http://www.coindesk.com/big-corporates-unite-for-launch-of-enterprise-ethereum-alliance/. Retrieved 22 June 2017. 
  10. ↑ "FIC Speakers". https://www.dcsil.ca/fic-speakers. Retrieved 22 June 2017. 
  11. ↑ "Aion ICO Pre-Sale Raises $7.2M in Under a Week, Adds $22 Million | Crowdfund Insider" (in en-US). Crowdfund Insider. 2017-10-09. https://www.crowdfundinsider.com/2017/10/122975-aion-ico-pre-sale-raises-7-2m-week-adds-22-million/. 
  12. ↑ "Aion ICO Pre-Sale Raises $7.2M in Under a Week, Adds $22 Million | Crowdfund Insider" (in en-US). Crowdfund Insider. 2017-10-09. https://www.crowdfundinsider.com/2017/10/122975-aion-ico-pre-sale-raises-7-2m-week-adds-22-million/. 

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