If you don’t know about R3 yet, then you probably should. R3 is actually a collection of 200 Blockchain companies that build and send out blockchain applications for the finance and general, commerce industries.
One of its projects is the Corda platform, which was originally designed to be the ideal Blockchain-type solution that can reach a scale which easily supports the needs of businesses.
In the interest of fully understanding what Corda is, it should be made clear that by using the term “Blockchain-type,” we mean that it is not a Blockchain, but it is still a decentralized ledger. Therefore, it shares most of the same characteristics with a Blockchain, but not all of them.
As of now, Corda exists in some sort of general form as well as in a form that is optimized for enterprise.
What is perhaps the most defining feature of the Corda Enterprise ledger is that it has what is called a “Blockchain Application Firewall.” This firewall apparently makes it safer and more efficient for businesses to use Corda in connection with their legacy systems.
By legacy systems, we mean existing data centers, existing servers and any sort of technological frameworks that already help the company do what it does.
In addition to this, it was announced in a recent Cointelegraph report that R3 has, in effect, connected its two solutions by letting Enterprise users have all of the applications that the general platform currently supports and will support, as well.
Cointelegraph has put forth the general idea that Corda’s improvements to its Enterprise solution could be coming at exactly the right time. Most of us who have any experience in the Blockchain space know about the widespread doubts that have been stemming from the traditional business world.
Publications like Forbes magazine have even run pieces that suggest that if the Blockchain were revolutionary, than the top technology businesses would already be using it since they arguably possess some of the best R&D developments in the world.
While these companies still have not embraced the Blockchain, Corda’s uniqueness just might be enough to push more small and mid-sized businesses to do so. After this, the giants just might follow, especially if Corda expands to target more industries as they seemingly plan to do.
By: BGN Editorial Staff