Raiffeisen Bank Austria joins R3 Blockchain consortium

The bank operates a banking network in central and Eastern Europe and by using Corda, R3’s technology platforms, it aims to gain extensive know-how in the underlying infrastructure of future commercial blockchain applications. Furthermore, the banks will exchange and collaborate with peers to develop the security and usability of the bank’s own blockchain initiatives.

R3s network consists of over 160 international members from across a number of industries, including banks, financial institutions, technology companies, trade associations and others. The group revealed more than USD 100 million in new funding in May 2017, followed by the launch of the beta version of its Corda software platform in June 2017.