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The London CordaCon 2018, an annual gathering hosted by R3 to celebrate everything that happens on the Corda platform and its developer community, this year appeared in unfriendly health, with only a lot of standing space in it of presentations.
about 1,150 records over the two days – last year's exponential growth, noted David Rutter, CEO of R3, adding:
"At this rate I should approach you from an O2 Arena packed in two years."
The main news was the launch of the Corda Marketplace, "pseudo app store" or storefront for solutions on Corda (CorDapps) comprising over 200 companies and "a place where you can discover new partners to help you create CorDapps", according to Rutter [19659005] The other big announcement was that the HM Land Registry of the British government (which safeguards the ownership of land and property of over 4 billion pounds, including about 1 trillion mortgages) chose Corda as part of its Digital St. reet project, to make the process of buying a home simpler, faster, cheaper and more transparent.
"I'm a commercial boy," said Rutter, "and I started trying to figure out how to £ 1 at home, for example – and it's really damn good."
Also, it was announced that the R3 Global Finance Finance Forum will be launched in October. The first topic that will be discussed will be: "How blockchain can support the post-Brexit European Union" (popular term for the imminent withdrawal of the United Kingdom from the European Union).
Rope converts
The two most important plays on Corda are insurance and commercial finance. In terms of commercial finance, there were presentations by TradeIX, part of Marco Polo, and Voltron, the banking group that digitized letters of credit. The insurance flow worked throughout the day, with the reinsurance group B3i and the US insurance consortium RiskBlock
. It is well known that both B3i and TradeIX started to build on the Hyperledger Fabric platform before turning to Rope.
Asked what was, if possible, recoverable from the original work on Fabric, Sylvain De Crom, Chief Product Officer B3i, said: "Clearly some functional requirements are completely reusable because they do not change with technology. , the structures were different. "
De Crom said that Corda" provides a lot of tools that are readily usable for developers ", but added the caveat that B3i used Corda a year later than the work done on Fabric Hyperledger. "You are comparing the beginning of 2018 Corda with the beginning of 2017 Fabric, so some of the tools we had to code ourselves in Fabric were already available in Rope," he said.
Developers who develop commercial financing solutions are mainly divided between R3 Corda on one side (with Marco Polo and Voltron) and Hyperledger Fabric on the other with groups such as we.trade and Batavia.
David Sutter, head of the platform strategy at TradeIX, stated that the goal with Marco Polo was to create "an agnostic cloud, Android agonistic infrastructure for commercial finance – which clearly is not the. goal of a business. "
Regarding his company that moves from Hyperledger to Corda, Sutter said: "Fabric is an open source protocol, yes, but the way it is supported and made operational is not run open source." [19659010] "In terms of validating and ordering transactions," he added, "we are relying on IBM, in terms of distribution of a node, we are counting on IBM BlueMix." Corda is cloud agnost
Code and law
Granting a regulatory perspective on DLT, Chris Woolard, director of strategy and competition at the British regulator, the Financial Conduct Authority, said technology was by far the most popular among the cohorts of its regulatory sandbox. [19659002] More than a third of all participants in the last three years have used blockchain in one form or another, he said, with 14 out of 29 in the current batch, even so, he also referred to a mortgage projectthat the FCA has undertaken with R3.
Woolard said the FCA examines the issue of accountability with new technologies like blockchain and AI, and as such has found that the ethereum DAO is a problematic concept, stating: [19659003] "Instead of code is law we need code that works with the law. "
He also pointed out that whenever an enterprise outsources some function, it must tell FCA that it has emerged a lot about cloud computing, for example. He said that the regulator is still deliberating whether the DLT constitutes a material outsourcing.
Finally, the point of view of a central banker on the blockchain came from Dirk Bullmann, fintech coordinator at the European Central Bank (ECB). Bullmann said the ECB has decided it is difficult to rely on a technology that is relatively nascent.
"This is not intended to be negative," he said. "We see a lot of development and we are sure that one day the technology will be ready for prime time – now we feel it is not."
David Rutter image via Ian Allison for CoinDesk
The leader in blockchain news, CoinDesk is a source of information that fights for the highest journalistic standards and sticks to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of the Digital Currency Group, which invests in criptovalute and blockchain startups.
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