Blockchain consortium R3 receives another collaboration, this time it’s with Wall Street Blockchain Alliance (WSBA) to develop applications and solutions on their Corda platform, according to a press release published on Feb. 5.
A statement released by the CEO of R3, David E. Rutter, stated that the two companies will be collaborating in order to “advocate a strategic approach to collaborating with regulatory bodies so that financial markets, and beyond can gain the full benefits of blockchain’s capabilities.”
WBSA is a non-profit trade association aimed at promoting blockchain technology and crypto assets across international markets.
R3 has over 300 partners. The blockchain software firm has developed Corda, an open-source blockchain platform that aids both private and public sectors across multiple industries.
Corda is a blockchain platform that enables institutions to transact directly, by using smart contracts, while ensuring their user’s privacy and security. The platform announced in mid-January, the launch of its Corda Network, with non-for-profit organization the Corda Network Foundation which will be responsible for its operations.
Just recently, major global banking payments network SWIFT revealed its plans to develop a Proof-of-Concept gateway in collaboration with R3, in order to link to the SWIFT Global Payments Innovation payments from their platform.