Aion Raises $22 Million USD To Build Interoperable Blockchain

Announcements, Blockchain, Investing, News | October 9, 2017 By:

Enterprise blockchain company Nuco today announced that its Aion subsidiary has raised an initial $22 million USD to build the first interoperable blockchain network. The company also announced Moog Inc., a Fortune 1000 company specializing in building parts for the aerospace and defense industries, will integrate Aion.

The Aion Network is a multi-tier blockchain network designed to support a future where many blockchains exist to solve unique industry problems and to power the services of the modern world. Aion seeks to become the common protocol used for these blockchains, enabling decentralized applications to be adopted on a mass scale.

Moog initially turned to Nuco to develop a native blockchain platform to on-board the entire manufacturing documentation to a network shared by multiple stakeholders. 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.

“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,” said James Regenor, Director of Transformative Technologies at Moog. “That same phenomenon exists today in blockchain. There’s going to need to be a hub. For us, Aion is that hub. 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.”

Aion started its token pre-sale on October 3, raising over $7.2 million in just under one week. The Aion project has now secured $22 million to connect compatible blockchains operated independently to allow the instant, global transfer and recording of data and value.

Aion tokens will become immediately transferable following the conclusion of the pre-sale. Additional tokens will be available to the public in late 2017.