Nuco, a startup founded by a group of former Deloitte employees, has released a new white paper detailing its latest blockchain initiative.
Dubbed Aion, the proposed technology aims to connect different blockchains, including private networks operated by enterprises. The idea is that, as more companies turn to the technology for a variety of applications, there will need to be a public layer through which these future networks can communicate – and that’s where Aion comes in.
As the white paper outlines, Aion would act as a kind of “bridge” between those networks, serving as “a mechanism to transfer data and value securely between them.” Aion, as a public blockchain, will utilize a token aimed at incentivizing the various parties involved in both validating transactions and putting up the resources to transact between the different networks.
The paper explains:
“The AION 1 itself can be used to deploy decentralized applications on, as well as will maintain a public record of transaction between bridges. Essentially, facilitating a network that is to blockchains what the internet is to computers.”
Aion’s public nature is notable among enterprise-facing solutions on the market today, which have tended toward private, permissioned networks in which only approved parties can participate. Aion’s “Connecting Network”, according to the paper, would link both private and public networks alike.
Nuco also details a built-in governance structure that functions by way of a voting system, with the aim of creating “a truly democratic government” through which proposals can be made and weighed by nodes connected to the network.
The release of the white paper comes just over a year after the team founded Nuco, which grew out of Deloitte’s internal blockchain efforts. Since then, the startup has inked several partnerships, including one with the TMX Group focused on creating a blockchain-powered natural gas exchange.
Bridge image via Shutterstock