The Wall Street Blockchain Alliance (WSBA) has joined blockchain consortium R3 to develop applications and solutions on their Corda platform. R3’s Corda is the same platform we just learned will be doing a POW with SWIFT later this year. Corda can currently settle using the XRP token.
So what is Corda? Corda or Corda Settler is an open-source blockchain platform for both the private and public sectors across multiple industries. And who is the WSBA and what do they do? The Wall Street Blockchain Alliance (WSBA) is a non-profit trade association created for financial market professionals, by financial market professionals. WSBA main goal is to promote blockchain and get adoption. The WSBA does this by engaging with market participants, regulators, policymakers and technology innovators through direct communication, comment letters, studies and more to guide the public dialogue about blockchain, distributed ledger, and smart contract technology so that the financial markets can realize the full potential of these capabilities. Sounds a lot like what Ripple is doing doesn’t it?
The CEO of R3 states that “The Wall Street Blockchain Alliance (WSBA) and R3 will work together to accelerate widespread adoption across an innovative community of financial services professionals. We advocate a strategic approach to collaborating with regulatory bodies so that financial markets, and beyond can gain the full benefits of blockchain’s capabilities.”