R3 corda blockchain using real world companies:
Canada wanted to use the power of blockchain and therefore we got the Jasper project. It was launched in 2016 and the main goal of the project was to transform Canada's payment system. Additionally, the project is a collaboration of the Bank of Canada, Canada Payments, and other financial institutions.
Currently the project is going through different phases and they are suing Corda blockchain to push the project forward. All the participants of this project are:
HSBC, National Bank of Canada, Royal Bank of Canada, Bank of Montreal, Scotiabank, TD Bank, CIBC, Payments Canada, and Bank of Canada.
The Monetary Authority of Singapore or MAS is the initiative of this project. The Ubin Project is the application of blockchain technology within the financial systems of Singapore. Currently, they are using the Corda blockchain as they believe that Corda can offer the level of features they need.
The LionRock project first emerged in 2017. It uses the vast knowledge of R3 and the Corda blockchain to build interbank payment systems. Normally, the interbank payment system faces many problems and errors.
In January 2020, the Hong Kong Monetary Authority and the Bank of Thailand came together and formed a partnership and named the project Inthanon-LionRock. the popularity and use of digital currencies led them to make this decision.
Furthermore, they also want to use distributed ledger technology in financial sectors and hold their token. Using the corda development platform, they can do both. As Corda supports fiat money along with native tokens, this will give them a different advantage to the whole scheme.
The companies that use blockchain technology are:
Kasikornbank PLC, Krung Thai Bank PLC, Bank of Ayudhya PLC, Bangkok Bank PLC, Thanachart Bank PLC, Siam Commercial Bank PLC, Standard Chartered Bank (Thai) PLC, HSBC and ZA.
That is why the Inthanon-LionRock project is using the Corda blockchain to digitize the system. They will also introduce digital currencies to expand banks' payment methods.
ING signed a five-year contract with R3 to use its Corda platform in all ways. In addition, they will have full access to all Corda Blockchain commercial releases during these five years. ING will use this contract to implement different Corda-based services for banks globally and would also give access to CorDapps within the framework.
SBI Holdings is one of the largest shareholders of the R3 company. They are starting a new joint venture to adopt Corda blockchain in Japan and East Asian regions. R3 will provide the technical support for any type of adoption within these regions together with your Corda company and Corda software.
The partnership will allow SBI to use their features for themselves and also provide them to potential clients.
Together with the help of the Corda blockchain platform, HSBlox brings a new type of solution to the healthcare industries. They are collaborating with R3 to leverage the interests and trust features of their Corda Blockchain.
Additionally, HSBlox will also implement the blockchain solution in a new healthcare application to streamline the payment process and thus preserve patient privacy in every way.
The Insurwave platform is one of the best projects so far on the Corda blockchain. Various parts came together to make it possible. Mainly the companies were:
Maersk, Guardtime, EY, ACORD, MS Amlin, XL Catlin, Willis Towers Watson and Microsoft.
The project is the world's first blockchain-based marine insurance solution. Use Corda's enterprise-grade features to reduce risk across organizations dealing with marine insurance. Marine insurance is one of the most complex insurance processes of all time. Also, it takes many parties to maintain marine insurance for a single company.
But with the help of Corda Blockchaindevelopment they can now manage it with ease.
You should be familiar with the SWIFT global banking payment network. They are currently using the Corda blockchain to test SPI payment standards. Although the venture is trial for now, if all goes well, they will make it official.
In addition, they are using Corda Settler to offer users the ability to make payments taking advantage of the privacy and security it offers. However, they will not use the native Corda token for their applications.
Another win for R3 Corda blockchain development company platform is the new NatWest Banks project. NatWest is using the Corda platform to create a blockchain application to distribute the loan market. Corda blockchain can manage risk like no other blockchain platform. And this feature specifically attracted NatWest to use it for the lending industry.
ChainThat has always been a noted enthusiast of blockchain technology. After the launch of the Corda blockchain, they showed constant interest in it. With the help of the network, they are powering their Bermuda project with Corda.
Bermuda is a project where they will reduce insurance and reinsurance risk and offer a capital exchange platform for users.
The software development company MonetaGo is working on the Corda blockchain platform to offer blockchain solutions to Mexico and other international markets, mainly in India. They previously wanted to use Hyperledger Fabric, but then they canceled it.
According to them, Corda blockchain is more suitable for their blockchain-based fraud mitigation solutions.
Legal Center of Excellence:
This amazing and innovative platform is the brainchild of R3. Its Center of Legal Excellence will offer the latest and best practices of legal aspects in blockchain technology. The platform is based on its Corda blockchain development, and already ten top-tier law firms have signed on for the company.
Nowadays, lawyers have to keep up with the development of blockchain in order to manage legal aspects efficiently. But there is no free blockchain training just for lawyers. However, with the help of this platform, they can interact with the network and fully understand what the blockchain offers.
The ten companies are:
Stroock, Shearman & Sterling, Perkins Coie, Holland & Caballero, Fasken, Crowell & Moring, Clifford Chance, Baker McKenzie, and Ashurst.