ING and R3 hail ‘watershed moment’ for business blockchain tech

This includes a blockchain application firewall that makes it safe for companies to use the technology inside their corporate datacentres without comprising their data security. “This is a massive step towards unlocking the full potential of distributed ledger technology,” says Head of Innovation at ING Wholesale Banking Ivar Wiersma. “We can now deliver the security, privacy and reliability features that customers and regulators expect from financial institutions.”

According to R3 CTO Richard Gendal Brown, on traditional blockchain platforms “all data is shared with all parties”, which creates privacy issues. This, together with the technical constraints faced by larger businesses, are two of the reasons why some choose to stay away from running blockchain platforms. 

“Corda Enterprise fine-tunes Corda for these firms so that they can adopt blockchain technology in a way that is straightforward and natural. The launch of the platform is a watershed moment for business blockchain technology,” says Gendal.