Early this month R3 announced the launch of Corda Enterprise, a commercial version of its open-source Corda blockchain platform, which aims to help a wider range of business use blockchain in their sector. 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. It however took more than a year hard working, because of the various challenges, such as scale, security and privacy.
Corda Enterprise brings greater enterprise capabilities to the Corda platform. Built upon the existing Corda’s functionality, it is thereby enhancing availability and performance. These extra features may enhance security and make Corda Enterprise easier to scale. Next to the We.Trade platform for trade finance (see my recent blog: We.Trade on blockchain: yes we can), Corda Enterprise is the second commercially available blockchain platform for business, specifically optimised to “meet the demands of modern day businesses”, especially complex regulated institutions.
Why Corda Enterprise?
The whole idea of the original Corda platform (see my blog: R3CEV Corda Platform: the blockchain app store, 9 October 2017) was to enable businesses to transact directly and privately, reducing transaction costs and streamlining operations. Many large users however are facing technical, regulatory and compliance issues that prevent them from using blockchain internally at scale. Not all businesses can realise the full potential of blockchain because of technical constraints like their existing IT systems and complex infrastructures, as well as issues around privacy, scalability and interoperability between systems. R3 is therefore launching Corda Enterprise and has implemented additional functionalities so that every business can benefit.
Read the full article of our expert Carlo de Meijer on LinkedIn
Economist and researcher