R3

Global financial services technology

Basic facts

R3 is a consortium with more than 70 members of the largest financial institutions. Their target is „…to design and deliver advanced distributed ledger technologies to the global financial market…“ (Source: r3ccev.com). Competition with Digital Asset Holding (DAH) is getting more severe, what became obvious when Goldman Sachs and Bank Santander (both are invested in DAH) announced to step out of the consortium.

Why Blockchain?

The consortium’s joint efforts have created an open-source blockchain platform called Corda[4] especially geared towards the financial world as it handles more complex transactions and restricts access to transaction data. The aim of Corda is to provide a platform with common services to ensure that any services built on top are compatible between the network participants, whilst still fostering innovation and faster time to market as the underlying infrastructure would be accepted and understood by at least the founding firms.
„If we have one platform with lots of products on top, then we get something that’s more like the internet, where we still get innovation but we can still communicate with each other.[3] Source: Wikipedia

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Source: r3cev.com

Note

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