A major global blockchain trade network welcomes one of Russia’s largest banks.
R3 is an enterprise software firm which focuses on distributed database technology. It leads a consortium of over 200 members, such as financial institutions, banks, trade associations and fintech companies. The main aim of R3’s consortium is to develop Corda – an open-source distributed ledger platform, designed to work within finance to operate complex transactions and restrict access to transaction data. Corda has also garnered the interest of healthcare institutions, the insurance industry, and governments. Although R3 was inspired by blockchain, Corda is not designed to be a traditional blockchain platform. Corda does not have its own cryptocurrency, can only share data with the required participants and offers interoperable applications for finance and commerce (called CorDapps). Corda is gradually being implemented into the financial industry, being used for the transactions of Credit Suisse and IGN, while continuing to gather more and more partners for R3.
HSBC Bangladesh has completed the country’s first blockchain-powered cross-border trade settled using a letter of credit.12495
Bangladesh is now on the blockchain map.8712
R3’s widely-used open source blockchain platform Corda now supports the DAML smart contract language.4691
The Singapore Fintech Association and R3 have entered a partnership to provide startups in the SFA network with access to R3’s Corda blockchain.2611
The Linux Foundation has launched the ToIP Foundation, a new cross-industry coalition that aims to provide a trusted exchange of data over the internet.7127
No central bank is currently working on a CBDC that can be used by consumers, according to blockchain firm R3.7669
Nasdaq is partnering with the blockchain solution provider R3 to build institution-grade digital assets and marketplaces.4503
India’s Tech Mahindra said faster reconciliation and a reduction in paperwork are just two of the benefits of using the Marco Polo blockchain platform.4110
Experts weigh in on how blockchain ID can restore self-sovereign identity both online and in the physical world.12976
Flagship global airline KLM Royal Dutch Airlines is using blockchain to facilitate intercompany settlements process with its subsidiaries.2513
Hong Kong and Thailand’s central banks have stepped closer to implementing a joint central bank digital currency project for cross-border payments.4691
Recent research from the European Central Bank showed that it is possible to develop a central bank digital currency payment system that protects user privacy.5568
Multinational IT services giant Tata Consultancy Services launched the Quartz DevKit, which the firm claims can build blockchain apps 40% faster.7989
The Marco Polo Network, a trade finance network co-developed by major blockchain firm R3, has completed its largest finance trial to date.2512