R3: ‘Corda Is Not A Blockchain And We Didn’t Say It Was’ As Critics Take Aim
In a recent blog, “When is a blockchain not a blockchain” R3 noted that its Corda product is a distributed ledger and not a blockchain, and that it was never stated as such. The blog was in response to public comments claiming that R3 has only recently recognized that blockchain technology will not address wholesale financial industry needs. The blog noted R3 is flattered by the attention Corda has recently received after sources noted that the words “No block chain’ because we don’t need one” was used in an R3 presentation. The blog said R3 has from the beginning referred to Corda as a....
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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.”....
Chinese banks will soon have access to a permissioned version of the Corda Enterprise infrastructure via the country's Blockchain Service Network. Red Date Technology, one of the builders of China’s Blockchain-based Service Network, has obtained licensing rights from R3 to resell both the free and enterprise Corda implementations in China.According to a press release by R3, the news marks the first occasion of the BSN developer being able to resell enterprise blockchain technology from an overseas company.Since the R3 deal is with BSN China, developers will create a permissioned version of....
R3's Corda distributed financial ledger platform will soon become open source as it becomes part of the Hyperleger project. Corda, the distributed financial ledger created by R3CEV led international banking consortium for blockchain technology will be made open source. The latest development was announced by the consortium recently. According to news reports, the codes for R3 consortium’s Corda blockchain platform will be handed over to the Hyperledger project. Hyperledger project is an initiative of Linux Foundation along with some of the leading information technology, blockchain....
The managing director of “Blockchain-inspired” startup R3 CEV has hit back at criticism it spent millions of dollars on research into Blockchain technology it would never use. In a recent presentation on its Corda platform uploaded to Twitter last week, R3 stated it would not be creating a Blockchain “because it didn’t need one.” The update attracted widespread ridicule from cryptocurrency circles, with commentators accusing the startup of wasting its own money. Vaultoro In comments emailed to Cointelegraph, R3 Managing Director Charley Cooper sought to reiterate that the startup had....
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....