Corda is a distributed ledger platform designed to record, manage and automate legal agreements between business partners. Corda was originally developed by R3, a fintech company leading a consortium of over 70 financial services organizations to establish an open, enterprise-grade, shared platform for recording financial events and executing logic.
Microsoft yesterday announced the availability of R3’s Corda on Microsoft Azure. Thanks to its partnership with R3 which was announced early this year, they were able to release it on Azure only a few weeks after its release to the open source community.
This offering demonstrates the capabilities of Corda through real world scenarios, including an interest rate swap deal and Standard Initial Margin Model (SIMM) valuation. This is the first click-stop of many towards R3’s financial-grade distributed ledger platform offering on Azure.
As Richard G Brown, Chief Technology Officer at R3, describes “Corda is a distributed ledger platform designed from the ground up to record, manage and synchronize financial agreements between regulated financial institutions. It is heavily inspired by and captures the benefits of blockchain systems, without the design choices that make blockchains inappropriate for many banking scenarios. By making simple Corda demos available on the Azure Marketplace, R3 and Microsoft are making it easy for newcomers to experience Corda for themselves before joining the community.”
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