One month after reports surfaced that R3 was running out of money, the startup has launched Corda Enterprise, which it says includes a “unique Blockchain Application Firewall for businesses.”
On July 10, 2018, R3 announced the launch of Corda Enterprise, a commercial version of Corda, the company’s open-source blockchain, which has been around since 2016. While Corda Enterprise boasts that it is “100 percent interoperable” with the existing open-source platform, R3 highlighted some security features specific to the enterprise platform.
Chief among these is Corda Enterprise’s “Blockchain Application Firewall.” It might be easier to think of this in more concrete terms.
The firewall is a bit like the bulletproof glass of a teller’s booth at a bank. With the safety of the firewall, information or assets can be exchanged through a limited window. Meanwhile, the most sensitive (and valuable) data is kept separately and securely (this is akin to a bank’s vault). Altogether, the blockchain application firewall seems to act like a filter for nodes, controlling which data can enter an enterprise’s fortress.
Today, R3 released an explainer video to accompany its announcement.
In June, Fortune reported that, according to ex-employees, R3 was “floundering and could be out of money by early next year.” At the time, R3’s leadership denied that it was struggling.
Although R3 continues to push for corporate blockchain adoption, it’s not clear whether there’s a critical mass in its development community. Only time will tell if Corda Enterprise becomes an industry standard or another blockchain dud.
Matthew is a full-time staff writer for ETHNews with a passion for law and technology. In 2016, he graduated from Georgetown University where he studied international economics and music. Matthew enjoys biking and listening to podcasts. He lives in Los Angeles and holds no value in any cryptocurrencies.
ETHNews is committed to its Editorial Policy
Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Corda, R3 or other Ethereum technology news.