Wall Street Blockchain Alliance, R3 Partner On Corda Blockchain Platform

Announcements, Blockchain, News | February 6, 2019 By:

The Wall Street Blockchain Alliance (WSBA) has partnered with enterprise software firm R3 to develop innovative applications and solutions on R3’s Corda blockchain platform.

The WSBA is a non-profit trade association with a mission to guide and promote comprehensive adoption of blockchain technology and cryptoassets across global markets. The association believes that blockchain, distributed ledgers and smart contracts represent a seismic shift in how financial markets, and all aspects of the global economy, operate. Corporate members include Blockchain Intelligence Group, OTC Exchange Network, BlockEx, Calypso Technology and RiskSpan.

R3 is an enterprise blockchain software firm working with a broad ecosystem of more than 300 members and partners across multiple industries from both the private and public sectors to develop on Corda, its open-source blockchain platform, and Corda Enterprise, a commercial version of Corda for enterprise usage. Corda removes costly friction in business transactions by enabling institutions to transact directly using smart contracts, while ensuring the highest levels of privacy and security.

The WSBA said that they joined R3’s global network because they believe Corda is the foundation of a vibrant ecosystem of interoperable applications, which are built by R3’s partners using the power of blockchain to overcome the specific challenges faced by their customers.

“We are pleased to partner with R3 and introduce our trade association to the wide range of use cases that Corda enables throughout global financial services,” said Ron Quaranta, CEO of the WSBA. “We are certain that our members will benefit from our close collaboration with this leading industry body.”

“The Wall Street Blockchain Alliance (WSBA) and R3 will work together to to accelerate widespread adoption across an innovative community of financial services professionals,” said David E. Rutter, CEO of R3. “We advocate a strategic approach to collaborating with regulatory bodies so that financial markets, and beyond can gain the full benefits of blockchain’s capabilities.”

Last month, R3, in partnership with SBI Holdings, announced that it will be launching a new venture to boost the adoption of Corda in Japan and the wider East Asian region. The partnership will enable SBI to leverage its unparalleled network of regional contacts among financial institutions and corporates to accelerate the adoption of Corda.