Today R3
announced the launch of the Corda Network, the interoperability layer between blockchains running on Corda. A new non-profit foundation has been created in the Netherlands to govern the network independently of R3.
Corda differs from other distributed ledgers in a number of ways. First, it’s not a blockchain which means that nodes only store data for transactions in which they’re involved, which is great for privacy. Another is that to interoperate with other blockchains on the Corda Network requires a relatively simple configuration. This hooks into the common layer of identity and consensus. Without the high level of privacy, the sharing of data could be more of a challenge.
For example, a company that operates a node that’s part of a supply chain blockchain might choose to share bill of lading and invoice data with a bank on a trade finance blockchain. That’s provided both blockchains are powered by Corda, and it doesn’t matter whether that’s the open source or Enterprise version. Likewise, any blockchain that requires payment could interact with a separate blockchain that facilitates tokenized money – a Corda stable coin.
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