R3 updates Corda blockchain platform

R3, the enterprise distributed ledger technology (DLT) and services firm, has announced the release of the next generation of its flagship platform, Corda. Unveiled at an event in New York, the updated version of Corda has been specifically designed to enable seamless and secure interoperability between applications across various open enterprise DLT networks, targeting global financial market infrastructure providers and central banks.

In collaboration with Adhara, R3 has also launched a Hyperledger Foundation Lab called Harmonia. This lab aims to expedite the development of interoperability protocols for regulated financial institutions. Harmonia addresses the specific constraints and requirements of regulated financial networks, with a focus on achieving true atomic settlement across different blockchain networks. The initiative draws on insights from HQLAX and Fnality, which recently demonstrated the world’s first proof-of-concept trustless atomic DvP (Delivery versus Payment) repo settlement between Corda and Hyperledger Besu. This advancement brings regulated markets one step closer to achieving safe and secure enterprise DLT interoperability.

Corda has already been adopted by numerous institutions operating at scale in global regulated markets, including DTCC, Euroclear, the Central Bank of UAE, SIX Digital Exchange (SDX), and Spunta Banca DLT. The next generation of Corda follows the underlying principles derived from the feedback and requirements of R3’s existing customers, with a focus on scalability, high availability, enhanced privacy and security, and developer-friendly tools. By distributing Corda as a single open-source codebase, R3 aims to encourage developer contributions and reduce the total cost of ownership.

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