Blockchain

WSBA Joins Blockchain Consortium R3

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As per the reports from Cointelegraph, Wall Street Blockchain Alliance- WSBA, has announced in après release that it will partner with Blockchain Consortium R3. This partnership will help WSBA to generate and grow applications and solutions on its blockchain platform- Corda. As per the press release-

“It joins R3’s global network of more than 300 of the world’s largest financial services firms, technology companies, central banks, regulators, and trade associations working together on Corda. Corda is an enterprise-grade blockchain platform that removes costly friction in business transactions by enabling institutions to transact directly using smart contracts while ensuring the highest levels of privacy and security. R3 recently launched Corda Enterprise, a commercial distribution of Corda specifically optimized to meet the demands of complex institutions.”

The CEO of R3- David E. Rutter 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.”

On the other hand, the CEO of WSBA- Ron Quaranta said that the company is pleased to partner with R3. It is also pleased to introduce its trade association that ranges across global financial services. He also expressed confidence that the company members will gain from this joint effort.

R3 is an enterprise Blockchain software that has joined hands with more than 300 partners. It has created the open source blockchain platform, Corda. Corda has been made to serve both the private and the public sector, which allows all scale institutions to make transactions with the help of smart contracts directly. While doing so it makes sure of the user’s privacy and safeguards the user too.

As per the reports from CryptoNewsZ, on 31st Jan, SBI Holdings, the Japanese finance big shot shared its ‘nine-month’ Financial Report. The Reports talked about the capacity of Ripple XRP for cross border payments. In order to attain international levels for activities such as international payments, trade finance, and related large scale transactions and financial operations, Ripple and blockchain consortium R3 are the main ingredients of the Japanese SBI’s strategy.

On the other hand, reports from CryptoNewsZ revealed that on Jan. 30th, at the Paris FinTech Forum, The CEO of SWIFT- Gottfried Leibbrandt told the panel-

“Our new GPI platform is extremely interoperable and open, and we have always had links to other networks. […] we are announcing later today (30th Jan.) a ‘Proof of Concept’ with R3 blockchain on trade, where you can initiate a payment on the trading platform, and then it goes into GPI. So we are exploring interconnectivity with a lot of things.”

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