SIA Group, R3 Team Up for Blockchain Finance App Network

Technology infrastructure provider SIA Group and distributed bill record (DLT) consortium R3 have teamed adult in an bid to get banks and corporates regulating blockchain applications.

Under a partnership, so called CordDapps – blockchain apps formed on R3′s Corda record – will be accessible for clients over a new “secure and protected” 600 node network to be built by SIA. The plan is approaching to go live from Q1 2018, according to a press release.

Massimo Arrighetti, CEO of SIA Group, said:

“We will confederate on SIAchain, that rests on roughly 600 nodes of a SIAnet network around Europe, a many modernized technologies accessible and we will rise innovative applications for financial institutions, corporates and open sector.”

Applications built on Corda use common formula and protocols that concede interoperability, according to R3.

David E. Rutter, R3′s CEO, said, “We are flourishing a different ecosystem of interoperable applications on a platform, any providing a singular resolution to a hurdles faced by financial marketplace participants.”

Integrations with existent networks have a intensity to assistance speed adult adoption of DLT opposite a financial industry, he added.

Network image around Shutterstock

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