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It was confirmed yesterday that r3 is very awaited Network String it is active and functioning. The CEO of r3, David E. Rutter, had this to say:
Participants will be able to build their systems to meet their exact needs and ensure the security of their data while still enjoying the benefits of a universal network …
The applications on Corda are witnessing widespread adoption in all industries. Corda Network is the next step to bring these networks together to make these applications even more efficient and effective. "
This network will allow data transfer and settlement of funds between the node communities through CorDapps within a trusted organization or business partner, while remaining interoperable throughout the entire Corda community.
Because of this, Rope has increased its partnerships with governmental and private companies and organizations due to its multi-use security and utility on a global scale. Their official website has reported partnerships with over 250 organizations worldwide, including giants such as Amazon Web Services, Intel, Citibank and HSBC.
In order to maintain the integrity of this new Corda network, r3 jointly announced that a non-profit organization was also created under the name of the Corda Network Foundation to oversee the Corda network independently. Their press release stated:
"The Foundation's board will consist of directors from network participants and elected by members of the Rope network, and will operate independently of R3 and its decision-making process will be transparent and available to all members of the network."
@XRPCenter attempted to end any user doubts with this comment:
"It means that, to date, all the obligations deriving from the Corda ecosystem could be solved with XRP if the participants choose to do so, as the XRP is already integrated into the Cordone settler.
It does not necessarily mean that XRP is already in use. "
Presentation of Corda Network. Read our press release to learn all about it! https://t.co/5vsraSaurK pic.twitter.com/MxxvWVhDoy
– R3 (@ inside_r3) January 16, 2019
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