Enterprise blockchain company Nuco has announced that it raised an initial $22 million to build the Aion interoperable blockchain network. The company also announced that Moog Inc. (NYSE: MOG.A), a Fortune 1000 company specializing in building parts for the aerospace and defense industries, will integrate Aion.
“The blockchain landscape is like the railroad system of the 1850’s, when there were multiple switching networks. At some point there had to be a consolidation of gauges so that railroads could use each other’s tracks to reach more customers. That same phenomenon exists today in blockchain. There’s going to need to be a hub. For us, Aion is that hub,” said James Regenor, Director of Transformative Technologies at Moog. “Aion will allow us to move data between the multiple blockchains that could be present in our supply chain. We think this is a very important step, and we’re glad to be participating in it.”
Moog initially turned to Nuco to develop a native blockchain platform to onboard the entire manufacturing documentation to a network shared by multiple stakeholders. The developers say that by integrating Aion, Moog’s blockchain platform will soon be able to interoperate and share data with other major blockchains in industries ranging from banking to auditing and insurance.
Aion started its token pre-sale on October 3, raising about $8 million so far.