B3i Selects R3 Corda Blockchain Platform

B3i, The Blockchain Insurance Industry Initiative, has announced it will build its applications and business network on the Corda blockchain platform.

Corda is built on established and industry-proven technologies and standards. This enables full integration of Corda nodes in the professional and compliant IT environments that are used by B3i’s clients.

“The Corda platform offers the optimal solution in the market to deliver the B3i roadmap and our industrywide insurance blockchain ecosystem. We are very excited to continue our work with the Corda team.” – CTO at B3i, Markus Tradt.

“We are delighted that B3i has selected Corda as its preferred platform and our engineering team is looking forward to working closely with the excellent team at B3i to bring their innovative solutions to market.” – CTO at R3, Richard Gendal Brown.

R3 is an enterprise software firm tasked with creating blockchain products for banks and finance firms. Some suggest it is running out of money to which David E. Rutter, the CEO, responded “R3 is in a very strong financial position. We have the widest and largest funding base in the enterprise blockchain space, having raised more than USD 120 million from more than 45 institutions and brought in over USD 20 million in revenue.”