Insurers move from blockchain to R3’s Corda
Tuesday, 06 19 2018, Category: Technology, Country: World
The Blockchain Insurance Industry Initiative (B3i) has announced a platform switch away from Hyperledger Fabric’s blockchain to Corda, an open source distributed ledger product created by New York-headquartered technology firm R3.
The decision comes following a report by B3i Services AG that reviewed open source blockchain technologies against the B3i enterprise platform strategy.
The report focused on critical success factors of data privacy, scalability, interoperability and developer productivity. It was concluded that the Corda platform offers the best blockchain solution available.
B3i referenced Corda’s strong reputation, technologies and standards in prompting the switch and expects a full integration of Corda nodes in the professional and compliant IT environments used by its clients.