Today R3 officially went live with Conclave, its confidential computing solution it first disclosed in 2019. In many ways, Conclave complements the enterprise blockchain Corda. Where Corda enables companies to share data they have in common, Conclave enables them to share confidential data in a very restricted way.
Looking at banking transactions, blockchain enables the sharing of a transaction between two banks. But sometimes it might be useful to share other transactions, for example, to tackle anti-money laundering.
Today each step in a transaction is viewed in isolation. But money laundering often involves several hops between banks. It would be possible to work out the original sender, the in-between steps, and the final destination by sharing data.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
