R3 today launched version 1.0 of its Corda-distributed ledger platform, signalling that the core application programming interface (API) has achieved the stability needed for the development and implementation of applications on the platform, known as CorDapps. The platform’s codebase was developed in collaboration with fifty R3 members.

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Richard Gendal Brown, CTO of R3, comments: “This is a significant moment for the evolution of distributed ledger technology. Most other platform providers don’t commit to this. Their early adopters risk being trapped in evolutionary dead ends as the platform evolves in incompatible ways. With Corda v1.0 we are protecting CorDapp developers from this fate – this is the firing of the “starting gun” for real development and deployments to start in earnest.”

David E. Rutter, CEO of R3, comments: “Corda is the most inclusive, open platform in the marketplace, and the launch of v1.0 signals to our rapidly growing ecosystem of partners that they can build on the platform with complete confidence. Time and budget can be invested in learning about, prototyping with and implementing Corda to realise both theirs and their clients’ business vision for DLT. The road to commercial deployment starts here.”

Corda is a blockchain-inspired platform that is meant to remove costly friction in business transactions by enabling institutions to transact directly using smart contracts, while ensuring the highest levels of privacy and security. It is the outcome of over two years of intense research and development by R3 and its over 100 members.