R3 reveals new distributed ledger technology Corda

Far from the ledger of transactions popularized by bitcoin, R3s technology claims to be tailor-made for financial institutions. The only information that’s decentralized is whatever the members choose is necessary.

Other key differences include that the developers of Corda focused from the beginning on the legal language around how disputed agreements are resolved and on concerns unique to regulated financial companies.

Unlike Bitcoins blockchain which distributes the entire history of transactions among its nodes, in Corda only verified transactions are shared.

Regulators are given supervisory observer nodes from which they can monitor the system, a functionality that is being built into blockchain systems, including Overstocks tØ platform.