R3

R3 is a consortium of companies focusing on the development of blockchain technology for financial institutions. Founded in 2014, R3 aims to facilitate collaboration among organizations to create solutions that improve financial transactions and operations. They developed Corda, a blockchain platform specifically designed for businesses, allowing secure and efficient sharing of data while maintaining privacy. By working together, R3 members, which include major banks and technology firms, strive to innovate and enhance the financial landscape, making processes faster, more transparent, and cost-effective. R3 exemplifies a collective effort to harness emerging technologies in the finance sector.