R3 hopes to break even with Corda enterprise upgrade
DigFin reported in the spring that R3 was changing its membership and fee structure. So what’s come of it?
R3, the New York-based consortium developing distributed ledger technology, is about to launch an enterprise version of its distributed ledger, Corda. The company plans to charge users of the new version in a different way to break even.
This represents the transition of R3 from a consortium of financial institutions, mainly banks, into a vendor that charges for its products and services; and of members into shareholders.
The new version of Corda is expected to launch early next year. Superior to Corda 1.0, an open-source version launched in October this year, the newer one will provide features like extra capacity and better speed. “We believe financial institutions will want to use it,” said Carl Wegner, Taipei-based managing director of R3.
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