R3 LAUNCHES CORDA COMMERCIALLY: Blockchain consortium R3 has commercially rolled out its open-source blockchain platform, dubbed Corda Enterprise, which aims to enable more businesses to leverage blockchain technologies. This comes after R3 launched version 1.0 of the platform in October 2017. The paid version of Corda offers users 24/7 support and disaster recovery, among other things. It allows businesses to use a version of Corda that best fits their needs, depending on their size, development stage, or industry. Finastra, Gemalto, Guardtime, GuildOne, TradeIX, and Tradewind Markets have already developed applications, which are now live on Corda Enterprise and Corda. They can serve users in different segments including insurance and elsewhere in financial services.
The consortium claims it has developed the first blockchain firewall. R3 reports that Corda is the first to offer a firewall for blockchain, dubbed the Blockchain Application Firewall, which aims to protect the Corda node from the outside while still allowing the necessary traffic to come through. This allows Corda to be deployed inside corporate data centers and communicate securely with nodes all around the world, according to R3. This could bring Corda the traction it needs to become a successful blockchain platform, as this focus on making sure sensitive data is protected will likely make companies more willing to use it.
It has been rumored that R3 is running out of money, and this commercial launch may help the company reset. There have been talks that the consortium is running out of money and could “soon be on the auction block,” according to Forbes. David Rutter, R3’s founder and CEO, responded by reassuring the consortium’s staff that jobs were safe. While R3 missed its revenue goals through April 2018 by 13%, Rutter expects that it will be able to make up this loss with future projects, likely including the commercial launch of Corda. Therefore, the launch of Corda Enterprise couldn’t have come at a better time, and given that it provides companies with necessary data protection, it seems likely that it will be an attractive option for many.