R3 (an enterprise software and blockchain company) joins hand with The China Academy of Information and Communications Technology (CAICT) to create apps and solutions on Corda blockchain platform. Kai Wei, Director of Big data and Blockchain at CAICT said, “I’m very happy to witness the cooperation between CAICT and R3 for the establishment of a cooperative partnership,”
A collaboration has been established between SBI Holdings based and a blockchain software firm R3 with the aim to accelerate the adoption of the Corda blockchain. The newly-established joint venture will aid the provision and introduction of the Corda license and promoting the R3 and other Corda partners to overseas offices and expand their business.
A short-term debt instrument transaction was settled on Corda blockchain platform with the involvement of four banks namely Commerzbank, ING, Natixis, and Rabobank. Reportedly, the transaction was worth €100,000 worth euro commercial paper (ECP). Natixis was the issuer of the instrument, Rabobank as the investor, ING as the dealer and escrow agent. Commerzbank was the provider of technical support.
R3 has launched Corda Settler, an application which allows the user to make payment across the globe opens with XRP cryptocurrency. The app works by verifying that the beneficiary’s account was credited with the payment, and simultaneously updating the Corda ledger. R3’s CTO Richard Brown says, App will be soon open to all forms of crypto and traditional assets.
Nearly 26 companies and five financial institutions have accomplished the know-your-customer (KYC) requirements on the blockchain. The CEO of R3 expressed, “Corda is the ideal technology for creating KYC platforms, as it allows users to have complete control of their data.” The trail of the R3’ Corda included BNP Paribas and the Societe Generale.
The R3, a blockchain company, has unveiled its Corda blockchain platform, a commercial version, called the Corda Enterprise. The developed platform is targeted to meet the modern day business demands. The issues such as privacy, scalability, interoperability, and others are to be resolved by the Corda Enterprise as quoted by the CTO of R3, Richard Gendal Brown.
Nearly 39 firms have completed three hundred transactions on the Know Your Customer (KYC) application developed on Corda blockchain platform. The CEO of R3, David E Rutter stated, “KYC requirements present a significant challenge to financial institutions and the process is often slow and time-consuming.” The transactions were carried from 19 countries across eight time-zones.
The Blockchain Insurance Industry Initiative (B3i) would be embracing R3’s Corda platform for its upcoming projects. The CTO of B3i, Markus Tradt stated, “The Corda platform offers the optimal solution in the market to deliver the B3i roadmap and our industry-wide insurance blockchain ecosystem.” The insurance company aims to bring data privacy, scalability, and developer productivity.