R3 a blockchain powered software firm on Tuesday 10th, June launched a commercial/paid version of its blockchain platform popularly known as Corda. The paid version of the Corda comes with some extra features which are mainly designed for the regulated institutions. The new version of Corda platform has been announced specifically for the regulated business firm.
In order to meet the expectations of the modern day business especially of the complex institutions, the popular blockchain platform has released the new paid version. With the help of the blockchain application firewall, the platform is able to expand inside the corporate data centers. In addition to this, the platform is capable of securely communicating with other nodes present in any part of the world.
This new version also allows seamless integration with industry-standard enterprise databases like SQL and Oracle. Extra features which come along with this new paid version includes high-performance modes, disaster recovery, high availability, enhanced security, performance and availability monitoring, governance, predictable release schedules and 24*7 customer support.
R3 is the group of more than 200 companies which are involved in the research and development of blockchain applications for the industries of commerce and finance. With the launch of the new version of paid Corda the decreased confidence in business will definitely get a boost in the field of the blockchain technology.
Richard Gendal Brown, the CTO at R3 states that “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.”
Unique technical constraints have been faced by many enterprises specifically the larger enterprises. For making these enterprises to adopt the technology of blockchain in the natural and straightforward way the Corda enterprises finely tunes Cord for these firms. The introduction of this platform definitely proves to be a watershed moment in the business blockchain technology.
According to R3 the applications that have been launched by its partners such as Tradewind Markets, TradeIX, GuildOne, Guardtime, Gemalto, and Finastra can now be seen on both the platform of Corda and Corda enterprise. These applications help in boosting the community growth of the end users in the sectors as wide as financial services, shipping, healthcare, and insurance.
John Velissarios, the Managing Director in the Global Blockchain Technology at Accenture said in a statement that “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.”