An announcement regarding the launching of Corda Token SDK has been made by an enterprise blockchain software firm, R3. The launching of Token SDK 1.0 now allows the users to create native tokens on the Corda blockchain as it claimed to offer unique privacy, security, regulatory friendliness, strong identity layer, tight integration and many more in terms of the security of the cryptocurrency assets.
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 Federal Bank based in India has associated with DigiLedge, a blockchain company, aimed at the development of CorDapp to bring ‘faster and cheaper’ remittances in India. The CorDapp is based on the Corda blockchain developed by the R3. The CEO of DigiLedge, Mahesh Govind emphasized that Corda provides ‘confidentiality and privacy of business transactions.’
The Bank of Thailand has revealed its association with eight financial institutions based in Thailand. The association is to support the development of the project Inthanon, a central bank digital currency (CBDC). It is to function on the R3’s Corda platform. The bank is also conducting a DLT proof-of-concept for scripless government savings bond sale.
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.