The Wall Street Blockchain Alliance (WSBA), a non-profit trade association with a mission to guide and promote comprehensive adoption of blockchain technology and crypto assets across global markets, announced on Tuesday it has formed a new partnership with R3 to develop applications and solutions on its Corda blockchain platform. WSBA reported that it joins R3’s global network of more than 300 of financial services firms, technology companies, central banks, regulators, and trade associations working together on Corda.
According to WSBA, Corda is an enterprise-grade blockchain platform that removes costly friction in business transactions by enabling institutions to transact directly using smart contracts, while ensuring the highest levels of privacy and security. R3 recently launched Corda Enterprise, a commercial distribution of Corda specifically optimized to meet the demands of complex institutions.
“Corda and Corda Enterprise are the foundation of a vibrant ecosystem of interoperable applications. These apps are built by R3’s partners, harnessing the power of blockchain to overcome the specific challenges faced by their customers.”
Speaking about the partnership, Ron Quaranta, CEO of the WSBA, stated:
“We are pleased to partner with R3 and introduce our trade association to the wide range of use cases that Corda enables throughout global financial services. We are certain that our members will benefit from our close collaboration with this leading industry body.”
David E. Rutter, CEO of R3, added:
“The Wall Street Blockchain Alliance (WSBA) and R3 will work together to accelerate widespread adoption across an innovative community of financial services professionals. We advocate a strategic approach to collaborating with regulatory bodies so that financial markets, and beyond can gain the full benefits of blockchain’s capabilities.”