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SIA Group, R3 Teams Up for Blockchain Finance App Network

Technology Infrastructure Provider SIA Group and the R3 Distributed Distributed Technology Consortium (DLT) partnered for banks and businesses to use blockchain applications.

As part of this partnership, CordDapps, a Blockchain application based on R3's Corda technology, will be available to customers on a new secure and protected 600-node network to be built by SIA. According to a press release, the project is expected to be operational from the first quarter of 2018.

Massimo Arrighetti, CEO of the SIA Group, said:

"We will integrate on SIAchain, which is based on approximately 600 nodes of the SIAnet network throughout Europe, the most advanced technologies available and we will develop innovative applications for financial institutions, businesses and the world. public sector."

Corda-based applications use common code and protocols that allow interoperability, according to R3.

David E. Rutter, CEO of R3, said: "We are developing a diverse ecosystem of interoperable applications on the platform, each offering a unique solution to the challenges faced by financial market participants."

Connecting with existing networks such as SIAnet could help accelerate the adoption of DLT in the financial sector, he added.

Network Image via Shutterstock

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