R3: ‘Corda Is Not A Blockchain And We Didn’t Say It Was’ As Critics Take Aim

In a recent blog, “When is a blockchain not a blockchain” R3 noted that its Corda product is a distributed ledger and not a blockchain, and that it was never stated as such. The blog was in response to public comments claiming that R3 has only recently recognized that blockchain technology will not address wholesale financial industry needs.

The blog noted R3 is flattered by the attention Corda has recently received after sources noted that the words “No block chain’ because we don’t need one” was used in an R3 presentation. The blog said R3 has from the beginning referred to Corda as a distributed ledger platform and not a traditional blockchain platform.

Some Claim R3 Admits Defeat

The Merkle ran a story with a headline, “R3 Admits Defeat, Stops Blockchain Development.”

A tweet stated, “R3 concedes defeat: “No Block Chain, because we don’t need one. GAME OVER!” The tweet included screen shots of the R3 presentation stating why Corda doesn’t need blockchain.

Comments piled on on Reddit. One stated: “Good

Read more ... source: CryptoCoinsNews

Let's block ads! (Why?)

Powered by Bitcoin Central