Tieto, R3 partner to accelerate adoption of decentralised business networks

Wednesday 12 September 2018 13:48 CET | News

Tieto, a Nordic software and services company, has partnered with R3, an enterprise blockchain software company.

The partnership is aimed at accelerating the adoption of next generation decentralised business networks built on Corda, R3’s open source blockchain platform.

As an R3 partner Tieto will use Corda in various ecosystem projects within financial services, public sector, supply chain, and more.

Corda is a blockchain platform that removes costly friction in business transactions by enabling organisations to transact directly using smart contracts, while ensuring privacy and security. 

Earlier in 2018, Tieto, in cooperation with its customers, created the world’s first decentralized business network that enables the full digital establishment of limited liability companies. This project combined for the first time two major blockchain platforms as a practical implementation. Corda’s process and contract-centric architecture formed the backbone of the network between the different actors, while Hyperledger Indy - the basis for the global Sovrin identity network - provided a decentralised identity platform for exchanging verifiable data.

Furthermore, Tieto partnered with Evernym – also an R3 partner – to provide services based on Sovrin network. By partnering with R3, Tieto strengthens its capability to provide decentralized enterprise applications to its customers.

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Keywords: Tieto, R3, blockchain, partnership, supply chain, Corda, smart contracts
Countries: World