R3 Blockchain Consortium to Open Source Corda Platform – Make Available to Linux Hyperledger

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In an unprecedented move for the financial industry who are traditionally bound to proprietary software, banking Blockchain consortium and powerhouse R3 says it hopes by open sourcing it’s Corda platform and making the code available to the Linux Foundation’s Hyperledger platform they will create a new open standard for the Blockchain industry – and allow firms to build products on top of it.

In an exclusive report from journalist Jemima Kelly from Reuters on the surprise move Corda’s code will be contributed on Nov. 30 to the Hyperledger project and the news comes soon after reports were leaked through the Swedish media that R3 was going through internal strife as some of the American members of the group were taking out patents on Blockchain technology and different camps were being formed.

From Reuters: 

“Blindly investing millions of dollars in small, disparate technology projects is not appropriate for banks at a time when budgets are stretched,” said R3’s chief executive, David Rutter. “The risk of backing the wrong horse could far outweigh the potential gains. Given that the power of this technology lies in its network effect, the consortium model is the ideal method to get it off the drawing board and into the wholesale financial markets.”

 

About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) - Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, "The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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