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R3 (blockchain)

R3 (blockchain)

R3 is an enterprise software company working with a wide variety of financial services companies to develop the Corda network, a distributed ledger platform for financial services.

Introduction

R3 is an enterprise software company working with a wide variety of financial services companies to develop the Corda network, a distributed ledger platform for financial services.

Fundraising

The R3 consortium raised $107 million dollars in a May 2017 financing round led by large financial services and technology companies such as SBI Group, Bank of America, Merrill Lynch, HSBC, Intel and Temasek.

Products

R3 is developing a proprietary distributed ledger known as Corda. Corda is designed to work within existing financial services and regulatory frameworks and to develop a standard for financial institutions to develop a shared ledger of transactions and records.

The Corda distributed ledger has similarities shared with a decentralized blockchains networks however it is not a blockchain. A key difference is that not all data is replicated to all participants in the network, only verified transactions are shared. Additionally special user roles in the network known as supervisory observational nodes can be granted to regulators to ensure legal compliance.

Timeline

People

Name
Role
LinkedIn

Brian McNulty

Charley Cooper

Clive Cooke

David Rutter

James Carlyle

Jesse Edwards

Lauren Carrol

Mike Hearn

Mike Ward

Paul Harris

Richard Gendal Brown

Todd McDonald

Zack Kavanaugh

Further reading

Title
Author
Link
Type
Date

Blockchain consortium R3 raises $107 million

Jonathan Shieber

R3 Announces New Distributed Ledger Technology Corda

Michael del Castillo

Documentaries, videos and podcasts

Title
Date
Link

David Rutter of R3 Talks Blockchain

Dec 6, 2016

Companies

Company
CEO
Location
Products/Services

R3

David Rutter

New York

Corda distributed ledger platform

R3

Corda

News

Title
Author
Date
Publisher
Description
May 10, 2019
WebWire
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting, and business process services company, today announced that the company, in partnership with R3, the enterprise blockchain software firm, has developed a blockchain-based solution prototype to enable digital currency for interbank settlements for a consortium consisting of the Bank of Thailand and eight commercial banks in Thailand. Developed as part of the first phase of Project Inthan...