Working alongside the world’s leading financial institutions, R3 made a conscious decision 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 on the market that could solve them, 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 open source and fine-tunes them to meet the service and network infrastructure requirements of today’s highly regulated industries.
Today, R3 has transformed from a bank consortium to an enterprise software firm whose customers continue to reap the benefits of the vibrant communities we have built around the Corda platform. Both builders and explorers benefit from two interoperable and fully compatible distributions of Corda.
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