R3 unveils Corda distributed ledger

Announcements | April 7, 2016 By:

Richard G. Brown, CTO of the financial innovation firm R3, has unveiled Corda, a new blockchain-based platform designed to record and synchronise agreements across financial institutions.

“Corda is a distributed ledger platform designed from the ground up to record, manage and synchronise financial agreements between regulated financial institutions. It is heavily inspired by and captures the benefits of blockchain systems, without the design choices that make blockchains inappropriate for many banking scenarios,” said Brown.

Brown stresses that R3 is not creating a blockchain. Unlike other designs in the distributed ledger sector, the firm’s starting point is individual agreements between firms. It does not subscribe to the concept that all data should be copied to all participants, even if the data is encrypted.

R3 is a New York City-based financial platform.