Japanese IT service management firm TIS has invested in distributed ledger technology consortium R3, in a deal which will help speed up “the global development and adoption of blockchain applications”.

R3’s flagship blockchain platform will likely be positioned in Japan by TIS, which has, according to the consortium, a “strong group presence in the region” and a “sound customer base in financial, banking, payment & manufacturing industries.”

“This investment is testament to the potential that major IT companies such as TIS see in Corda,” said R3 CEO David Rutter. “We are experiencing growing support for Corda not just from the financial services community, but from a diverse mix of technology firms serving an expanding range of industries.

“These firms are building innovative apps on the platform that enable them to unlock new value for themselves and transform business processes for the sectors they serve.”

by Alex Hamilton
Alex is Senior Reporter at IBS Intelligence, follow him on Twitter or contact him at: alexanderh@ibsintelligence.com