CORDA-R3

R3 finance permissioned DLT privacy.

Definition

Corda architecture: Nodes (CorDapps runtime), Notary (uniqueness validation, single or cluster), CorDapps (smart contracts in Kotlin/Java, application bundle), Doorman (network governance), Network Map Service. Differences vs Ethereum/Fabric: no global broadcast (P2P transactions), Notary cluster validates uniqueness, Corda Sandbox classes deterministic JVM. Versions: Corda 4.x (open-source community), Corda 5.x (enterprise SaaS-ready 2024). Adoption: Marco Polo (trade finance), Voltron, Spunta Banca (Italian banks), Mastercard Multi Token Network.

Origin

R3 founded September 2014 by David Rutter (ex-ICAP) with ~9 major banks ; Corda open-source released November 2016 ; Corda 5 enterprise 2024.

Example in context

HSBC uses Corda via Marco Polo to automate trade finance settlements ; Letter of Credit issuance, shipment tracking, payment settlement between HSBC and BNP Paribas in Corda peer-to-peer transactions.

Related terms

• Hyperledger Fabric — permissioned competitor.