Home / Coin Payment / Ripple / XRP: r3 launches the Corda Network with "Corda Network Foundation", a new non-profit organization

Ripple / XRP: r3 launches the Corda Network with "Corda Network Foundation", a new non-profit organization

The most awaited news on the r3 company blockchain software company confirm that the Corda network [CN] it is active and functioning. The Corda network will be managed by an independent non-profit organization called the "Corda Network Foundation".

The news of the airing of the settler Corda di r3 was something that the XRP community and the fans were waiting with bated breath and finally arrived. r3 announced the news in a press release on January 16, 2019, and the new foundation will take over governance and work to encourage the adoption of the CN.

The press release stated:

"The Foundation's board of directors will be composed of directors drawn from network participants and elected by members of the Cor network from. It will operate independently of R3 and its decision-making process will be transparent and available to all members of the network.

The CEO of r3, David E. Rutter said:

"Participants will be able to build their systems to meet their exact needs and ensure the security of their data while still benefiting from the advantages 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. "

Corda Network allows the regulation of funds and the transfer of data between the community of nodes that could be a collection of corporate networks and / or private networks that can be performed through CorDapps.

Transactions or data transfer can be set up within your organization or with trusted business partners while remaining interoperable with the wider Corda community.

Rope has seen massive adoption as their partnerships include private and governmental companies and organizations. As per their official website, Corda has partnered with nearly 250 organizations worldwide, and some of these partnerships include companies such as Amazon Web Services [AWS], Citibank, HSBC, Huawei, Infosys, Capgemini, Intel etc.

@XRPCenter commented:

"R3 has created 2 products:
1) "CE" Enterprise Rope: authorized blockchain for use by private companies.
2) Rope: Open Source DLT that can be used by developers to create decentralized apps (CorDapps).
Settler's rope (CorDapp) can settle the payment obligations arising from Corda with XRP. "

He also clarified the doubts of users with another comment, which stated:

"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. "

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