R3 launches Corda Enterprise with unique Blockchain Application Firewall for businesses
10 July 2018 (New York and London): Enterprise software firm R3 has launched Corda Enterprise, a commercial version of Corda – R3’s open source blockchain platform – specifically optimised to meet the demands of modern day businesses, especially complex institutions.
With the launch of Corda Enterprise, companies can now select a version of Corda that fits their unique needs – regardless of their industry, size and stage of development. This means a wider range of institutions can realise the full potential of blockchain – executing complex logic and exchange of assets directly, simply and in strict privacy, without the need for costly reconciliation or a trusted intermediary.
Corda Enterprise includes the world’s only Blockchain Application Firewall, which enables the platform to be deployed inside corporate data centres while retaining the ability to communicate securely with other nodes anywhere else in the world. This is a critical requirement for many businesses when selecting a blockchain platform.
Corda Enterprise unlocks new opportunities for R3’s partner firms to expand their business, deliver new products to market faster and transform the industries in which they operate. Applications developed by partners such as Finastra, Gemalto, Guardtime, GuildOne, TradeIX and Tradewind Markets are now live on both Corda Enterprise and Corda, serving a rapidly growing community of end users in sectors as diverse as insurance, healthcare, shipping and financial services.
Interoperability is a key aspect of the platform’s design. Its applications and services run across a common layer of identity, consensus and governance. This means businesses can transact openly and flawlessly with all their business partners, without trapped assets or islands of information. Corda and Corda Enterprise are fully interoperable, meaning companies using either can trade with each other, and that one organisation can run both platforms seamlessly across different divisions.
Additional features include:
Richard Gendal Brown, CTO at R3, comments: “Traditional permissionless blockchain platforms, in which all data is shared with all parties, have issues around privacy, scalability and interoperability that render them largely unsuited for global business. This is the problem Corda was designed to solve and it is gaining adoption at a rapid pace across a range of industries. However many enterprises – especially larger ones – face unique technical constraints. Corda Enterprise fine tunes Corda for these firms so that they can adopt blockchain technology in a way that is straightforward and natural. The launch of the platform is a watershed moment for business blockchain technology.”
Jacqueline Morcombe, Global Solution Lead, Lending, Finastra comments: “Finastra selected Corda to build our blockchain-based solution, Fusion LenderComm, due to its strong levels of privacy and security. This enabled our team to build a secure solution which streamlines information exchange between agent banks and lenders, driving transparency and efficiency in the syndicated loan market.”
John Velissarios, Managing Director, Global Blockchain Technology Lead, at Accenture, comments: “Corda Enterprise marks the beginning of a new phase for the blockchain industry that will allow businesses to build enterprise-grade applications securely using cutting-edge technology. As blockchain becomes increasingly mainstream, we believe Corda will emerge as a true market leader across the financial industry and beyond.”
Michael Reed, Senior Director of Blockchain Solutions at Intel Corporation comments: “Intel is actively collaborating with R3 to address the privacy capabilities businesses require to accelerate blockchain adoption, using silicon-based technologies like Intel® Software Guard Extensions (Intel® SGX), which can help improve the privacy and security of blockchain solutions.”
Ivar Wiersma, Head of Innovation ING Wholesale banking comments: “With the launch of Corda Enterprise, we can now deliver the security, privacy and reliability features that customers and regulators expect from financial institutions. It enables us to realize the potential of distributed applications in enterprise grade IT production environments. This is a massive step towards unlocking the full potential of Distributed Ledger Technology.”
R3 is an enterprise blockchain software firm working with a broad ecosystem of more than 200 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.
R3’s global team of over 180 professionals in 13 countries is supported by over 2,000 technology, financial, and legal experts drawn from its global member base. R3 is backed by investment of over USD 120 million from more than 45 firms.
The Corda platform is already being used in industries from financial services to healthcare, shipping, insurance and more. It records, manages and executes institutions’ financial agreements in perfect synchrony with their peers, creating a world of frictionless commerce. www.r3.com
Nick Warren/Nick Murray-Leslie
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