Corda 3R: blockchain is a brainchild of global financial conglomerates
The SIX Swiss Exchange Stock Exchange (Switzerland) chose Corda 3R as the trading blockchain platform. Thus, traders have confirmed: blockchain is an indispensable technology in a number of industries. Now the securities will be bought and sold even faster – thanks to the technology of the distributed registry.
The choice for the decision Corda 3R was not accidental: the blockchain helps to see and analyze data that cannot be changed from the outside. About 3R CEV LLC we can say that this is a research technology company dealing with financial technologies. Its partners include 70 largest organizations, and a consortium of equally respected world-famous companies, in particular: the financial conglomerate Barclays (Great Britain), Credit Suisse (Switzerland), and one of the world’s largest investment banks J.P. Morgan.
As we see, since 2015, financial conglomerates have become interested in the blockchain’s capabilities, and the developers from 3R have released more than one innovative product.
Development of the SIX Digital Exchange platform, which is a kind of blockchain-continuation of the SIX Swiss Exchange, began in June 2018. The peculiarity of the site is to facilitate the tokenization of shares.
The launch of the digital exchange is to take place in the second half of 2019. As it turned out, Swiss traders are ready for the emergence of an alternative model that can facilitate trading and make it faster.
Marco Polo network that adopted the “Alfa Bank” operates based on Corda 3R
At the same time, Alfa Bank reported that this financial institution also uses a technology solution from R3. In particular, the structure became a member of the international trade finance network Marco Polo. This will allow Alfa Bank to engage in cross-border investment without extra fees. At the heart of Marco Polo is the same blockchain ecosystem Corda R3, but noticeably customized. The TradeIX platform has been added to Corda.
In addition to all the advantages of the blockchain (openness, transparency, and anonymity), Alfa Bank’s customers will receive a simplified document flow. This is achieved through the use of cloud solutions, as well as a multifunctional user interface.
Marco Polo is an ecosystem that brings together financial institutions, corporations and service providers. The purpose of using the solution R3 is uninterrupted maintenance of working capital.