Wall Street Blockchain Alliance Collaborates With Consortium R3 Over Corda platform

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A statement released by the CEO of R3, David E. Rutter, stated that the two companies will be collaborating in order to “advocate a strategic approach to collaborating with regulatory bodies so that financial markets, and beyond can gain the full benefits of blockchain’s capabilities.

R3

R3 has over 300 partners. The blockchain software firm has developed Corda, an open-source blockchain platform that aids both private and public sectors across multiple industries.

Corda is a blockchain platform that enables institutions to transact directly, by using smart contracts, while ensuring their user’s privacy and security. The platform announced in mid-January, the launch of its Corda Network, with non-for-profit organization the Corda Network Foundation which will be responsible for its operations.

Just recently, major global banking payments network SWIFT revealed its plans to develop a Proof-of-Concept gateway in collaboration with R3, in order to link to the SWIFT Global Payments Innovation payments from their platform.

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