David E. Rutter and Todd McDonald founded R3 in 2014 with the belief that digital transformation is the future for highly regulated industries everywhere.
With 50+ years of combined financial services and capital markets experience, they knew first-hand that there was a lack of trust in how firms collaborate and transact with each other. They believed that if businesses were less centralized and more connected through the use of networked digital technology, then entire industries could be streamlined and transformed. With a passion to drive this vision forward, R3 developed Corda—a purpose-built DLT application development platform that has facilitated hundreds of blockchain networks across trade finance, insurance, capital markets and banking.
Building on the success of Corda, the R3 team next launched Conclave, a confidential computing platform for developing applications that enable multiple parties to securely share and analyze data.
Today, with the support of our diverse ecosystem, our team of industry and technology experts are committed to bringing their best practice and expertise to every customer engagement. Because we believe with each multi-party application built on our next-gen platforms, we move one step closer to a truly digital and connected world.
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