Computing giant Intel (NASDAQ: INTC) announced at the Intel Xeon Scalable processor launch event in New York on Tuesday that it is collaborating with R3 to strengthen data privacy and security for its Corda blockchain platform.
As part of Corda’s approach to data privacy and security, the platform only sends data to those who have a “need to know”, unlike most blockchain applications. This feature emerged from the requirements of financial institutions which need to ensure the confidentiality of trades and agreements.
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Mike Hearn, Lead Platform Engineer at R3, comments: “By partnering with Intel we will be able to give Corda users more class-leading features as we continue to set the standard in DLT data privacy. Corda addresses multiple problems identified by our eighty-plus members across the globe, but transaction privacy is usually the top issue blocking real-world deployment. We’re very happy to be developing new solutions to this problem by working with Intel.”
David Rutter, CEO of R3 comments: “Intel is the perfect partner for Corda. The platform was developed from the ground up to address the specific needs of the industry, with design choices such as its unique approach to data privacy and security that make it the only appropriate DLT solution for regulated wholesale financial markets.”
Rick Echevarria, Vice President, Software and Services Group and General Manager, Platforms Security Division at Intel Corporation, comments: “Intel Xeon Scalable processors will improve the privacy and security of blockchain solutions. R3’s collaborative approach and Corda platform places R3 in a unique position to drive the evolution of market infrastructure for the next generation of financial services.”