Three members of Deloitte’s blockchain team have left the organization and founded a new blockchain startup that aims to create the distributed systems of tomorrow.
Mathew Spoke, team lead – Strategy and Execution at Rubix by Deloitte; Jin Tu, lead developer at Deloitte’s Rubix blockchain division; and Kesem Frank, a blockchain specialist at Deloitte, co-founded Nuco and said that they departed the consultancy giant to raise more capital faster than they could have with Deloitte.
"We’re essentially continuing on the track of what we started doing at Deloitte. We recognized the need for more capital and realized that we could move more quickly if we were a standalone company”, Nuco CEO Mathew Spoke told CoinDesk.
He further said his team is currently building a customizable technology stack that would enable users to build blockchain services that can help streamline across a broad spectrum of potential use cases. In addition, the startup is also contemplating to add its offering to Microsoft's Azure platform.
Nuco aims to build, license and deploy customized private blockchain networks for clients across industries, CoinDesk reported. It will start building tools for tracking compliance duties for firms accountable to the Securities and Exchange Commission (SEC) and federal environmental regulators.
The startup is currently in the process of raising its first round of capital. Spoke expects the round to close soon and added that the company is not sharing the amount it plans to raise.
In the forthcoming months, Nuco will work to develop a strategy that will enable it to gain market share.
