The Wall Street Blockchain Alliance or WSBA, said it partnered with R3, an Enterprise Blockchain Consortium, to develop applications and solutions on its Corda blockchain platform.
Corda is an enterprise-grade blockchain platform that removes costly friction in business transactions. The platform enables institutions to transact directly using smart contracts, while ensuring the highest levels of privacy and security.
WSBA joins R3’s global network of more than 300 of major firms comprising financial services firms, technology companies, central banks, regulators, and trade associations working together on Corda.
David Rutter, CEO of R3, said, “The Wall Street Blockchain Alliance (WSBA) and R3 will work together to accelerate widespread adoption across an innovative community of financial services professionals. We advocate a strategic approach to collaborating with regulatory bodies so that financial markets, and beyond can gain the full benefits of blockchain’s capabilities.”
WSBA is a non-profit trade association that advocates, guides and promotes comprehensive adoption of blockchain technology and cryptoassets across global markets.
R3, the New York-based enterprise blockchain software firm, is working with major companies across multiple industries from both the private and public sectors to develop on Corda and Corda Enterprise, a commercial version of Corda for enterprise usage.
In late January, Dutch bank ING signed a five-year deal with R3 for an unlimited number of Corda Enterprise licenses to encourage adoption of Corda blockchain applications, known as CorDapps, across wide range of its business functions.
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