Barclays Demos R3’s Corda Distributed Ledger at London Event
At an event in London today to celebrate the graduation of its new startup accelerator class, Barclays demonstrated a smart contract platform built on Corda, the recently unveiled distributed ledger project from global banking consortium R3. Calling the demo "history in the making", Dr Lee Braine of the Investment Bank CTO Office at Barclays said distributed ledgers constitute an "elegant way" to solve issues with legal agreements in the financial sector, a problem that has been labeled a point of focus for the Corda project by its creators. According to....
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A Barclays team has demonstrated a derivative trade using Corda, a distributed ledger platform. What challenges does Corda have to overcome before becoming the future of derivative contracts? R3 is a consortium partnership of over 40 of the world's leading banks, working on advanced distributed ledger technologies for the global financial markets. In early April 2016, R3 revealed the distributed ledger platform for financial services – Corda. Corda has been designed to manage financial agreements between regulated financial institutions. Key features of Corda include no unnecessary global....
UK banking giant Barclays took another step toward positioning itself at the forefront of innovators in the blockchain sector last week with the news it had become the first to trial Corda, a new distributed ledger platform from partner R3CEV. The prototype, demoed at the Barclays Accelerator in London last week, follows a particularly active period for Barclays, which earlier this month revealed it would provide banking services to blockchain payments startup Circle, and earlier this year, participated in a test of a private version of the Ethereum blockchain with 11 R3 member banks. In....
Banking consortium R3CEV revealed today that 15 of its members have completed a distributed ledger trial focused on applications in trade finance. The test reportedly focused on how its distributed ledger platform Corda could be used in accounts receivable invoicing and letter-of-credit (LC) transactions. Further, it follows news that Bank of America, HSBC and the Infocomm Development Authority of Singapore completed a similar trial today using software created by the Linux-led Hyperledger project. In statements, CEO David Rutter cited the announcement as evidence of the power of the....
Corda, the distributed financial ledger solution created by R3 led banking consortium can drastically reduce the time taken to process transactions, increasing profits by 10%-15%. R3 Blockchain Consortium, a group comprising over 50 major financial and tech institutions across the globe, has been successful in solving various trade challenges using the blockchain technology. The New York-based fintech firm has recently announced an unprecedented success with its Corda distributed financial ledger. The trial involving invoice financing and letter of credit transactions was conducted in....
R3’s Corda distributed ledger platform will support digital currencies later, a spokesperson for the financial innovation company has confirmed. Corda was used by R3 and over 15 of its consortium member banks to successfully complete two prototypes that demonstrate how distributed ledger technology can address the key challenges facing the $45 billion global trade finance industry. The spokesperson says to CoinTelegraph: “The prototypes didn’t require native currencies, but the products we are developing will be designed to support existing fiat currencies and native digital currencies.”....