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Nuco
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 and has an office in Sunnyvale, California. It is backed by Bessemer Venture Partners.
History
Nuco was started by three Deloitte blockchains leads in 2016 to deliver blockchain technology into mainstream enterprise environments. It focuses on solving pain points primarily through disintermediation and reducing friction in complex business processes.
It is funded by Bessemer Venture Partners, XDL Capital Group and Plug and Play.
It's advisory board includes
- 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. 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. 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.
It is a founding member of the Blockchain Research Institute in collaboration with IBM and the Government of Ontario
In February 2017, Nuco become a founding member of the Enterprise Ethereum Alliance
Nuco advises the Ontario Securities Commission in its policies regarding cryptocurrency and Initial Coin Offerings (ICO).
