R3 brings the Intel to Corda DLT platform
Enterprise software firm R3 is working with Intel to beef up its data privacy and security for Corda, its distributed ledger technology (DLT) platform.
R3, which used to call itself a blockchain consortium, says Corda only sends data to those who have a “need to know”. According to the company, this feature emerged from the requirements of financial institutions which need to ensure the confidentiality of trades and agreements while also capturing the “benefits” of a shared distributed ledger infrastructure.
The collaboration with Intel will add support for key elements of Intel’s security and privacy toolkit, as R3 looks to “strengthen and enhance” Corda’s functionality in these areas.
Mike Hearn, lead platform engineer at R3, says “transaction privacy is usually the top issue blocking real-world deployment”.
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In a recent and separate development, TigerRisk Partners has become the “first” insurance broker/advisor to join R3’s centre of excellence for DLT in the insurance and reinsurance industries, which it runs in partnership with Acord (Association for Cooperative Operations Research and Development).
This centre was launched in April and will be used to research, experiment and design DLT applications that “improve the efficiency of insurance processes” such as claims handling and data management.
TigerRisk will gain access to the R3 Wiki, an online knowledge library that contains a collection of research and resources created and compiled by R3 and its members. A portal has been built on the Wiki specifically for insurance projects, to let members discuss DLT and insurance-related topics.
