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Blockchain Alliance R3 Launches Training Consortium For Lawyers

Blockchain Alliance R3 Launches Training Consortium For Lawyers

Blockchain Alliance R3 Launches Training Consortium For Lawyers Share Tweet Google+ Pinterest LinkedIn Tumblr Email + The R3 Blockchain group has launched a Blockchain training consortium made up of ten law firms, with the intent to train and educate lawyers in Blockchain technologies. The R3 Blockchain consortium has announced their creation of a Legal Center of Excellence (LCoE) today, Feb. 20 a team consisting of ten law firms that will educate lawyers globally about new Blockchain technologies, according to a press release published on FinExtra . R3, which is made up of over 100 financial institutions, launched the Blockchain platform Corda in 2015, a distributed ledger system that facilitates and standardizes financial transactions. In December of last year, Amazon Web Services announced a partnership with R3 to allow the Corda distributed ledger on its marketplace, allowing users to both deploy and develop DApps onto the AWS platform. The ten firms that make up the LCoE are Ashurst, Baker McKenzie, Clifford Chance, Crowell & Moring, Fasken, Holland & Knight, Perkins Coie, Shearman & Sterling, and Stroock. According to the press release, these law firms will be able to participate in Corda training workshops for attorneys, have access to R3s Blockchain research, and receive project demos of real world Blockchain use every month. Richard Gendal Brown, CTO at R3, sees the new LCoE as a way for lawyers to deal with the increasing number of questions surrounding the legal and regulatory status associated with Blockchain: A key feature of Corda is its ability to record an explicit link between human-language legal prose documents and smart contract code. This enables agreements between businesses to be executed automatically with minimal need for human intervention. Th Continue reading >>

Deutsche Brse In Partnership With Hqlax Over R3 Corda

Deutsche Brse In Partnership With Hqlax Over R3 Corda

A partnership is brewing between Deutsche Borse and HQLAx, the liquidity and collateral management firm, and R3, a blockchain consortium . This partnership will focus on creating a front-to-back model that will help in securities lending. According to this program, Eurex will be providing the repo-trading application while the post trade processing layer will be catered for by Deutsche Borse. This is expected to interoperate with various collateral custodians and agents. Legal Title Transfer of Securities in the Offing In cases where there are traditional settlements of lending transactions for securities, individual underlying securities go through inter-account transfers. However, the main of HQLAxs operating model is to gain a legal title transfer of securities baskets via the transfer of ownership of digital collateral records. In the end, the aim would be to facilitate the mobilization of liquidity across pools of collateral that reduce in a disparate custody account. Notably, ING and Credit Suisse were the first to take up live collateral swaps early this month, complete with full legal exchange of settlements and contracts through the use of an R3 corda-based collateral lending app that was created by HQLAx. With this partnership, Deutsche Borse is expected to help foster market adoption and thus enable smooth connectivity with HQLAx, both in terms of post trade processing and trade execution. The Executive Manager at Deutsche Borse Mr Phillippe Seyll believes: With the creation of a neutral custody agnostic control layer, Deutsche Brse is embracing distributed ledger technology and complements it with a neutral and trusted market infrastructure role open to multiple custodians and collateral agents. This is a partnership that is expected to create a buzz in the Continue reading >>

Corda Review: Decentralized Interoperable Commerce Blockchain?

Corda Review: Decentralized Interoperable Commerce Blockchain?

Corda is a blockchain platform built for one thing to remove the costly friction that's experienced in business transactions! It seeks to address business needs for interoperability as well as privacy, syncing businesses and empowering them to transact or transfer value directly with utmost trust. This enables dramatic efficiency for operations in the complex business world. In order to understand what Corda project is all about, let's dig deeper looking at what it entails, its benefits, and how it achieves the privacy it promises. Briefly, Corda is an open source project built on the blockchain network, allowing businesses to transact in strict privacy. The platform is not backed by any cryptocurrency . As such, it does not require mining style consensus. By allowing collaboration between technology partners and financial institutions, Corda is designed specifically to serve various purposes. These include: Directly integrate into organizations systems Facilitate a rapid deployment of a new process Enable a smooth transition to new processes Benefits of Corda in the Blockchain World Based on its above mentioned designed purpose, the blockchain community ought to celebrate Corda. It has brought into existence more positive impacts in the blockchain world. The major are: Enabling parties to transact directly- Through its modern cryptographic techniques, Corda has ensured that direct transfer of value can effectively occur, syncing systems together. These in turn help in removing costs which consequently facilitates and initiates the presence of direct transactions between parties involved. Ensuring privacy over transactions- With the retention of privacy and assurance of integrity, Corda has another reason to be celebrated! It provides assurance when it comes to the tra Continue reading >>

Corda Training For Developers At Blockchain & Cryptocurrency Con 2018 | Linuxbsdos.com

Corda Training For Developers At Blockchain & Cryptocurrency Con 2018 | Linuxbsdos.com

Announcing Corda training for developers at Blockchain & Cryptocurrency Con 2018 At Blockchain & Cryptocurrency Con 2018 , an international conference on blockchain technology that will take place in Dallas, Texas (USA), from February 22 24, 2018, R3, a startup that counts more over 100 banks, financial institutions, regulators, trade associations, professional services firms and technology companies as partners, will be conducting a 2-day Corda training for developers. Corda is R3s open-source distributed ledger platform that is the result of a 2-year collaborative effort with 80 of its partners. The Corda training for developers, which is conducted by the team building the Corda platform, is an intensive training that helps developers understand the security, network design and other key aspects of the Corda architecture and gives them the coding skills to develop CorDapps applications that run on the Corda platform. Related Post: So what the heck is a blockchain? Outside of R3s training facilities in London, NY, and Singapore, the venue for Blockchain & Cryptocurrency Con 2018 in Dallas, TX (USA), is the only physical location where the course can be taken in February 2018, and the cost will only be about 33% of what youll normally pay at those other locations. Related Post: How to install Exodus wallet on any Linux distribution In addition, participants that take the class at Blockchain & Cryptocurrency Con 2018 will get a 6-month, unlimited access to R3 learning management system (LMS), which contains hours of Corda Distributed Ledger Technology online training. Combined with the conference being the most affordable blockchain-related conference youll ever attend, this is one opportunity you dont want to miss. So click here to register for the class and conference Continue reading >>

Business On The Blockchain: R3 And Corda Ep. 004

Business On The Blockchain: R3 And Corda Ep. 004

Business on the Blockchain , Finance , Government , Video Estimated reading time: 4 minutes, 15 seconds R3 was started in 2015 with a simple goal: to decrease friction and provide sufficient interoperability between financial institutions. By increasing interoperability, organizations can be more efficient, mitigate risk, and decrease costs. R3 has launched Corda, their Distributed Ledger Technology (DLT) based product, which looks to address not just financial applications, but uses for governments, supply chains, and insurance industries. Our video gives you all you need to know about R3 and Corda doing business on the blockchain! R3 was started in 2015. Banks were frustrated with the current status quo on how they did business with each other. The technology in the sector was greatly lacking, creating inefficiencies which in turn raised costs. Their goal was simple: decrease friction and provide sufficient interoperability between these financial institutions. By increasing interoperability organizations can be more efficient, mitigate risk, and decrease costs. Is R3 really a blockchain? No, it uses distributed ledger technology. But they arent trying to be a blockchain . These private entities desire greater control over their ecosystem. But they can make a system that has the characteristics of a blockchain, just suited to their specific needs. But this distributed ledger technology is only going to work if an accepted standard is adopted by many different institutions. And thats what R3 is for: to help create this agreed upon standard. Ive said it before, but if youre creating a group or standard, your results depend on your members. R3 has a global team of over 125 professionals serving over 100 global financial institutions and regulators. The results of R3s ef Continue reading >>

Blockchain And Cryptocurrencies: Reality Or Hyperbole?

Blockchain And Cryptocurrencies: Reality Or Hyperbole?

Blockchain and Cryptocurrencies: Reality or hyperbole? In what seems like the wild frontier of blockchain and cryptocurrencies that we are currently experiencing, there is almost only one thing that is certain; if someone writes an article about the price of the latest cryptocurrency then the article will likely to be out of date before it is even published! As I write this, most crypto currencies are going through one of their periodic bear-like downturns and this one looks bigger than those that have happened in the last 12 months. Who knows what will happen next? However, I hope that if some of the air does come out of the cryptocurrency bubble then 2018 can become the year where interest turns to the less hyped side of blockchain and more specifically towards distributed ledger technology (DLT). The difference between the two is not so much a difference but more of a super set. Cryptocurrencies are usually an instance of a blockchain, and blockchains themselves are an instance of DLTs. This is interesting in financial services (FS) because of the flaw (for the FS industry) of blockchains; namely that if blockchains work by replicating the same database across all participants in the network, then most financial institutions explicitly want the exact opposite! For example if Bank A trades with Bank B, then the last thing they want is details of the trade being accessible to Bank C. Even if the details are encrypted, financial institutions will be reluctant due to the encryption potentially being broken in the future. So if pure blockchains (such as ethereum) are not the answer, then what is? The answer is private or permissioned DLTs. These are either blockchains that try and resolve the shortcomings of the pure blockchains (such as Digital Asset Platform or Quorum) Continue reading >>

Bank-backed R3 Launches New Version Of Its Blockchain

Bank-backed R3 Launches New Version Of Its Blockchain

October 3, 2017 / 8:03 AM / 7 months ago Bank-backed R3 launches new version of its blockchain NEW YORK (Reuters) - R3 CEV, a New York-based company that runs a consortium of banks, has released a new version of its blockchain platform that it hopes will make it easier for financial firms to use the nascent technology. Hard-disks are pictured inside a server room at a company in Bangkok, Thailand, April 5, 2016. REUTERS/Athit Perawongmetha The new version of the companys platform called Corda includes a feature that will make it easier for computer developers building applications with the technology to incorporate future upgrades and updates, R3 said on Tuesday. Blockchain, which first emerged as the system underpinning cryptocurrency bitcoin, is a shared record of transactions updated by computers rather than a centralized authority. Banks and other financial institutions have been investing in the technology for the past few years in the hope that it can be used to automate some of their back office processes such as securities settlement and regulatory reporting. To accelerate development many have joined consortia or collaborative efforts. Launched in 2015, R3 is the largest financial consortium focused on blockchain globally. Its members include more than 100 banks, regulators, trade associations and professional services firms. In May it raised $107 million in May from companies including Bank of America Corp ( BAC.N ), SBI Holdings Inc, HSBC Holdings Plc ( HSBA.L ), Intel Corp ( INTC.O ) and Temasek Holdings. R3 has been helping members develop prototypes and run experiments to test blockchain. Most recently it announced that it had partnered with the UKs Financial Conduct Authority, the Royal Bank of Scotland and another global bank to develop an application u Continue reading >>

R3 To Acquire Ethereum For $59 Million

R3 To Acquire Ethereum For $59 Million

Home / Blockchain / R3 to acquire Ethereum for $59 million I mentioned in my FinTech Wave that blockchain has entered the trough of disillusionment. Its certainly a lot quieter space this year than last. In fact, when I say blockchain today, a lot of folks turn the other way. Whats going on? A lot of it is to do with the hype cycle, and the fact that too many players were making too much noise about the promise of this technology and none of it has been delivered. Yet. I still believe it is transformational, but lets wait and see. Second, there is still a huge amount of media confusion about this technology. A great example of this, and of the general trough of disillusionment, is how the news spread that R3 have ditched blockchain. It all started from a slide: Saifedean Ammous (@saifedean) February 23, 2017 It shows the complexity and subtlety of discussion required in a blockchain versus distributed ledger dialogue is lost on most, as all they hear is headlines like blockchain is not for us. Its almost like the bitcoin bad, blockchain good discussion that banks have. If you havent noticed, many establishment figures have said death to bitcoin for years, and yet it hasnt died. In fact its still going strong. In fact, bitcoin is having one its best rallies since it was launched, thanks to Japan saying theyll legitimise it as a currency . Meanwhile, back to the bitching about blockchain and the trough of disillusionment. For me, it is all down to too much hype and not enough understanding. There are several versions of digital currencies vying for the win: zCash, Ether, bitcoin; there are several blockchains hoping to be the one that people use the most; and there are hundreds of startups developed shared ledger models, some on blockchains and some on other platforms. F Continue reading >>

Tech Giants Like Microsoft And Intel Using R3 Blockchain Corda

Tech Giants Like Microsoft And Intel Using R3 Blockchain Corda

These fintech execs think blockchain will transform the financial services "Intense" research and development has been poured into Corda over the last two years, R3 said. The Corda platform is used to develop distributed ledger solutions that are interoperable. This means enabling software applications to communicate, exchange data and use that exchanged data. "We recognized early on the potential for our partners to generate revenue by contributing to a vibrant ecosystem of interoperable distributed ledger applications," R3 CEO David E. Rutter said in a statement Monday. "Our open, collaborative community gives companies complete freedom to develop innovative solutions to their customers' specific challenges. We are delighted with the demand we have seen from companies in different industries and regions to profit while working together with R3 to make Corda the leading peer-to-peer platform for global commerce." In October, R3 said it had worked with a number of international banks including Natixis, Barclays, HSBC and Commerzbank on a blockchain-based payments network to speed up cross-border transactions. The firm raised $107 million from 40 investors earlier this year, including Intel, HSBC and Bank of America Merrill Lynch. Continue reading >>

Comparison Of Ethereum, Hyperledger Fabric Andcorda

Comparison Of Ethereum, Hyperledger Fabric Andcorda

Comparison of Ethereum, Hyperledger Fabric andCorda Authors: Martin Valenta, Philipp Sandner. Download the article as PDF file . More information about the the Frankfurt School Blockchain Center on the Internet , on Twitter or on Facebook . With this paper, we provide a brief analysis of the most notable differences between the distributed ledger technologies (DLT) Hyperledger Fabric, R3 Corda and Ethereum. Our intention is to give decision makers new to DLT guidance for what use cases Hyperledger Fabric, Corda and Ethereum are most suitable. From the white papers of Hyperledger Fabric, R3 Corda (in the following only referred to as Fabric and Corda, respectively) and Ethereum it becomes obvious that these frameworks have very different visions in mind with respect to possible fields of application. Development of both Fabric [i] and Corda [ii] is driven by concrete use cases, whereas Cordas use cases are drawn from the financial services industry. Consequently, this is where Corda sees its main field of application. In contrast, Fabric intends to provide a modular and extendable architecture that can be employed in various industries, from banking and healthcare over to supply chains. Ethereum also presents itself as utterly independent of any specific field of application. [iii] However, in contrast to Fabric, it is not modularity that stands out but the provision of a generic platform for all kinds of transactions and applications. Table 1 provides a summary of the three frameworks. Table 1: Comparison of Ethereum, Hyperledger Fabric andCorda With conventional central data storage, only a single entity, the owner, keeps a copy of the underlying database, e.g. a ledger. Consequently, this entity controls what data is contributed and what other entities are permitted Continue reading >>

Corda Coin Or Token ? : Cryptocurrency

Corda Coin Or Token ? : Cryptocurrency

No pumping, shilling, or FUD (fear, uncertainty, doubt). Do not use multiple sockpuppet accounts to manipulate votes to achieve a narrative. Do not solicit, complain about, or make predictions for votes. Manipulation and Brigading are against the subreddit and site-wide rules. Communities linking to posts on r/cryptocurrency must use No Participation links. See our Expanded Rules page for more details Do not incite or encourage illegal activities. Content promoting leaks, buying/selling drugs, tax evasion, etc will be removed. No malware, spyware, phishing, or pharming links. Do not post addresses or seek donations without pre-approval from the moderators. Pre-approval is granted in only the most extraordinary circumstances. High-quality submissions are encouraged. Baseless price speculation, shilling, repetitive posts et cetera are removed. "Recommend a coin" can be discussed on the daily thread. See our Expanded Rules wiki page for more details about this rule. Do not reveal personally identifying information(PII), otherwise known as doxxing yourself. Divulging how many coins you own can make you a target of hackers and identity thieves. Do not doxx other redditors even if they engaged in an illicit activity. Report them to the mods instead. Do not steal content, also known as scraping or plagiarizing. Submitting links to blogs or news sites which are notorious for this activity will result in suspension or permanent ban. Use this tool to help determine if content is stolen or not. Idealogical posts or comments about politics are considered nonconstructive, off-topic, and will be removed. Exceptions will be made for analysis of political events and how they influence cryptocurrency. No clickbait. Titles cannot be misleading. They should accurately represent the conte Continue reading >>

Banks Continue Push For

Banks Continue Push For "blockchain, Not Bitcoin"

Banks continue push for "blockchain, not bitcoin" While bitcoin hits new heights, banks continue to push the "blockchain, not bitcoin" rhetoric Bitcoin may be the biggest threat to big finance that the industry has ever seen. And while some have outright shunned the cryptocurrency, some banks are trying to emphasize the underlying technology: blockchain. At the center of the blockchain boom in banking is the R3 Consortium . R3 started in a family office, led by David Rutter, the companys founder and CEO. Since its inception in 2014, the consortium has been joined by a number of the worlds top banks, regulators, trade associations and technology companies, with over 100 members in total. In addition to its considerable list of members, the consortium is also partnered with the likes of Microsoft, Intel, HP and InfoSys. The R3 Consortiums ambitious task is to completely overhaul the worlds financial services, reducing costs and increasing efficiency using Corda, the companys open source blockchain-inspired distributed ledger technology. Rutter noted: Our open, collaborative community gives companies complete freedom to develop innovative solutions to their customers specific challenges. R3 still technically lacks a finished product, and is currently only an open source, moldable solution to its members unique needs. However, one of the biggest challengers in the space, Ripple , has created a reference client that connects to the Ripple transaction protocol which is built on a distributed open source internet protocol, consensus ledger and cryptocurrency (XRP). Ripple switched its focus to the worlds banking system in 2014, and since, its transaction protocol has been adopted by several banking majors such as Santander, the Royal Bank of Canada and Fidor Bank. Additionall Continue reading >>

Ripple, R3 Lawsuit Heats Up: $12 Billion Now At Stake | Fortune

Ripple, R3 Lawsuit Heats Up: $12 Billion Now At Stake | Fortune

In the summer of 2016, Ripples former CEO Chris Larsen made a fateful decision: he signed a deal with a bank consortium R3, that included an option for its partner to buy 5 billion units of its currency for less than a penny. Today, amidst a boom that made Ripple the worlds second most valuable cryptocurrency after bitcoin, that option contract is worth at least $12 billion and the two sides are locked in a bitter court fight that could shape the future of global banking. In the latest twist in the legal battle, Ripple filed a counterclaim in New York state court that accuses R3 of signing the deal in bad faith, and using the partnership to steal its expertise in order to develop a competing product. The new filing, which includes emails from R3 CEO David Rutter, comes at a time of intense interest in Ripples currencyknown as XRPby speculators, who pushed it to highs of around $3.50 last week. The rise of XRP, which now trading around $2.50, has also made Larsen one of the richest men in the world. The option contract represents nearly 10% of the approximately 55 billion XRP (out of a total supply of 100 billion) currently controlled by Ripple. This puts the stakes of the dispute on par with other epic early-days battles such as the one between Facebooks Mark Zuckerberg and the Winkelvoss twins. In its counter-claim against R3, Ripple says it should not have to honor the options contractin part because its partner failed to uphold its end of the bargain, failing to assist Ripple sign up a single bank. It also says the contract is invalid because CEO David Rutter knew financial heavy-weights Goldman Sachs , J.P. Morgan , and Morgan Stanley were pulling out of R3, but failed to inform Ripple. Here is a key paragraph: Rather, R3 had misrepresented its resources and curren Continue reading >>

Blockchain Enterprise Firms R3 And Ripple Sue Each Other Over $1 Billion Of Cryptocurrency

Blockchain Enterprise Firms R3 And Ripple Sue Each Other Over $1 Billion Of Cryptocurrency

Blockchain Enterprise Firms R3 And Ripple Sue Each Other Over $1 Billion Of Cryptocurrency As blockchain companies have lost the spotlight this year to the burgeoning, hot world of crypto assets , two of the enterprise blockchain leaders, R3 and Ripple, are now embroiled in a dispute over the cryptocurrency XRP. On Friday, in the Delaware Chancery Court, R3, a consortium of more than 80 financial institutions across the world, sued its partner Ripple, over an options contractto buy more than $1 billion worth of XRP. The same day, in a California state court in San Francisco, Ripple countersued. R3 says in its lawsuit that in September2016, the companies entered into an agreement, part of which gave R3 the option to purchase 5 billion XRP at an exercise price of $0.0085 between then and September 2019. After soaring more than 3,000% this year, XRP now trades at more than $0.20, making the options worth more than $1 billion. San Francisco-based Ripple uses cryptocurrency and blockchain technology to make international wire transfers and other forms of cross-border exchange faster and cheaper. New York-based R3 uses similar technology, a distributed ledger which does not use cryptocurrency, as well as its consortium of financial institutions to make multiple banking functions more efficient. The R3 suit claims that, in June 2017, Ripple's current CEO, Brad Garlinghouse, emailed R3 CEO David Rutter to terminate the option contracts and asks the court to reinstate the rights granted in it. In its suit, Ripple claims that R3 misled Ripple into entering into partnership agreements, signed in 2016, in which Ripple would benefit from R3's banking partnerships, while R3 wouldgainnot only from the options but also a share of 15% of the revenue Ripple received from any bank partic Continue reading >>

Corda Developer Training Class

Corda Developer Training Class

Home 2018 Classes Corda Developer Training class This 2-day class will be conducted by R3 , a fintech startup that counts more than 100 of the worlds top banks and financial institutions as partners. Corda training is an intensive, structured two-day course for developers. This course will provide developers with the key skills necessary to develop financial grade distributed applications on the Corda platform. Corda is an open-source distributed ledger platform designed to record, manage and automate legal agreements between businesses. It offers a unique response to the privacy and scalability challenges facing decentralised applications. Corda is the culmination of a collaborative effort with over 70 of the worlds largest financial institutions. On course completion, participants will leave with the ability to develop CorDapps (applications on Corda), as well as understand the security, network design and other key aspects of Cordas architecture. Sessions will be provided directly by the team building the Corda platform. If you register for and take the training at this conference in Dallas, Texas, youll be given a 6-month, unlimited access to the R3 learning management system (LMS), which contains hours of Corda Distributed Ledger Technology online training. The complete course agenda is available at . Continue reading >>

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