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Global blockchain network now being launched

A global network and an independent governance organisation tied to the Corda blockchain network are now being launched. “The participants can thereby protect their data and build their systems exactly according to their own needs at the same time that they benefit from a universal network,” says David E. Rutter, CEO of R3, the company developing the Corda platform.

SEB has been a part-owner of R3 since 2017, the company that is developing the Corda blockchain platform and Corda Enterprise. The aim since the start has been to leverage opportunities created by blockchain for open, frictionless sharing.

Now Corda Network is being launched, which enables the sharing of data and digital assets between business networks and various CorDapps (Corda Distributed Applications). The participants can thereby create private ecosystems within their organisations or with trusted business partners at the same time that they can collaborate with the broader network when they want.

Governance of this network is being transferred to Corda Network Foundation, an independent, not-for-profit foundation whose board is elected by the network’s participant organisations.

“We are studying and constantly adapting to new technical solutions that can create value for customers,” says Paula de Silva, head of Transaction Services at SEB and a director on R3’s board.

“Blockchain has the potential to create global connection and access to reliable, secure and efficient transactions for everyone. The launch of Corda Network is an important step in delivering on this promise.”

Read R3s press release here.