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A Fintech company joins R3 Corda to work as a blockchain enterprise

Software development company MonetaGo has moved from Hyperledger Fabric to R3 Corda as a blockchain enterprise platform, the economic magazine Global Trade Review (GTR) reported on February 26.

MonetaGo, which previously had links with both platforms, will now use Corda to continue its expansion in Mexico and other international markets before a test is conducted in India.

The company offers fraud mitigation solutions based on blockchains for banks and previously operated as an exchange of cryptocurrencies before changing direction.

“With the new implementations we have in Mexico, as well as in other Latin American countries, the regulators themselves have been potentially looking for the adoption of this system and Corda has a good architecture for it,” Jesse Chenard, CEO, told GTR.

“Seeing the development of the distributed accounting technology (DLT) market, it has become clear that R3 is emerging as the leader in the financial services space.”

Corda has been strengthened in recent months with the addition of new partners. More recently, a transaction of three banks in Germany used the platform to settle a transaction of 100,000 euros (USD 113,500).

Hyperledger, the open source blockchain product of the Linux Foundation, also continues to increase its membership, which includes JPMorgan Chase, American Express and, as of this month, the Italian postal service.

At the same time, criticisms of the evolution of the block chain of companies have recently emerged from the figures of the cryptocurrency industry. As Cointelegraph reported today, the CEO of the payment network Abra, Bill Barhydt, poured cold water on the phenomenon of the private blockchain.

“Everything is going to fail miserably,” he told Fortune in an interview.

Published inFintech

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