Working alongside the world’s leading financial institutions, R3 made a conscious decision in 2015 to leverage blockchain technology to solve real business problems in both complex and highly-regulated markets. We recognized that there wasn’t a blockchain platform that could solve them at the time, so we built one from the ground up. That’s Corda.
In 2016, R3 launched Corda as an open source blockchain platform with the support of a vibrant community of organizations and developers. In 2018, we launched Corda Enterprise, which harnesses the core elements of Corda and fine-tunes them to meet the service and network infrastructure requirements of all types of businesses in all industries.
Today, R3 has transformed from a bank consortium to an enterprise software firm with the largest blockchain ecosystem in the world. Together with over 350 institutions, R3 is pioneering digital transformation and revolutionizing entire industries by digitalizing how firms connect and transact with each other. No matter which distribution they are building on–Corda or Corda Enterprise–R3 is committed to making sure that all our customers have the services, support and guidance they need along their digital transformation journey.
We made some unexpected bets three and a half years ago. We challenged the idea that a blockchain should send data to all parties, that people would be willing to write their applications in a new untested language, and that you should throw away existing technology. Instead, we made a choice to build Corda on the JVM and we said the world needs a new platform. We did something unexpected by open sourcing Corda. These things that were surprising at the time have paid themselves over many times.
Richard Gendal Brown, Chief Technology Officer, R3