Sales League Table 2020 | Banking Technology Winners

Results Announced!

IBS Intelligence launches BankTech Daily News

Subscribe today. Limited time offer.

The Black Swan Opportunity | Get your bank digital ready.

IBSI Special 5 Digital Report Package with Special Offer. Subscribe now

India FinTech Report 2020

Insights into the historical and projected market size of key FinTech categories. Subscribe now

R3 releases open source Corda for developers

Blockchain consortium R3 has open sourced its Corda distributed ledger solution, offering the system’s source code online as a free download for developers. As well as posting the code to file-sharing website Github, R3 has launched a website – Corda.net – dedicated to featuring additional resources for developers keen on getting to grips with the system.

This is the first time that the code for its blockchain solution will be made available to the public, not just members. “Our intention is to encourage other people in the community to contribute to it, to build on top of it, to drive its design and adoption,” says Richard Brown, R3’s CTO. “We want a large number of people downloading and using it.”

Whether this new move has been in the pipeline for a while, or whether it comes as a reaction to a number of high-profile departures from the consortium, is not known. R3 has lost Goldman Sachs, Santander and Morgan Stanley in recent weeks, with a leaked document predicting many more dropouts, including J.P. Morgan and U.S. Bancorp.

R3 is also not the first in the space to open source its tech. Major rival Chain recently released a new version of its software for developers, while other blockchain companies like Ripple and Digital Asset Holdings have opened up sections of their databases.

David Rutter, CEO of R3, says: “The successful application of distributed ledger technology to financial services relies on new solutions being able to integrate and work seamlessly with each other; otherwise the disjointed infrastructure financial markets are forced to operate with today will simply be replicated with different technology. The applications being built therefore need to be based on common, open, interoperable platforms – much like the common protocols on which the internet operates today. Open sourcing Corda is the next step in making Corda one of these platforms.”

[do_widget id=text-34]

Related IBS Intelligence Research

Related Posts

Rapyd logo

Rapyd completes acquisition of Iceland’s Korta

UK-based Rapyd, has completed the acquisition of Korta, an Iceland-based payment card service provider. Rapyd helps merchants, gig-economy platforms, and technology providers create and launch applications without having to build payments infrastructure. Korta provides merchants with a range of in-store and digital payment acceptance solutions. The deal was originally announced in April 2020. Rapyd CEO […]

This post is only available to members.

Read More »
P20 logo

P20 analyses global Payee Verification approaches

P20 has published its interim report Payee Verification: Overview of Approaches used by Credit-Push Payment Systems. The report from P20’s Regulation Working Group which focuses on criminal transactions and fraud, examines the approaches being used to reduce authorised push payment (APP) fraud and compares the methods being used in the US, UK, and Australia. The […]

This post is only available to members.

Read More »

Signicat: 41% of Europeans shut off from financial services in lockdown

Digital identity specialist Signicat has found that 41 per cent of consumers across Europe have been unable to access new financial services as a result of lockdown restrictions and a lack of access to digital options. In a research report, the Norwegian identity provider found that while consumers have had to turn to online and […]

This post is only available to members.

Read More »
OpenPayd

OpenPayd releases crypto banking and payments service

API-led Banking-as-a-Service provider, OpenPayd has released its banking and payments solution for digital currency businesses. The service is expected to provide cryptocurrency businesses with access to a range of banking and payment networks. According to OpenPayd, the platform will offer crypto businesses with access to crypto-friendly banking, simplified cryptocurrency purchase, fiat and digital currency exchange […]

This post is only available to members.

Read More »

Adyen expands acquiring capabilities to Malaysia

Adyen, an Amsterdam-based global payments platform, announced the expansion of its acquiring capabilities to include Malaysia. The company has launched its acquiring solution in Malaysia to help local businesses achieve higher authorization rates, better customer experience, and deeper data insights as the Malaysian market transitions to online payments. “Rolling out our acquiring solution in Malaysia demonstrates […]

This post is only available to members.

Read More »