Corda is a distributed ledger platform designed from the ground up to record, manage and synchronise financial agreements between regulated financial institutions. It is heavily inspired by and captures the benefits of blockchain systems, without the design choices that make blockchains inappropriate for many banking scenarios.
Corda’s key features include:
- Corda has no unnecessary global sharing of data: only those parties with a legitimate need to know can see the data within an agreement
- Corda choreographs workflow between firms without a central controller
- Corda achieves consensus between firms at the level of individual deals, not the level of the system
- Corda’s design directly enables regulatory and supervisory observer nodes
- Corda transactions are validated by parties to the transaction rather than a broader pool of unrelated validators
- Corda supports a variety of consensus mechanisms
- Corda records an explicit link between human-language legal prose documents and smart contract code
- Corda is built on industry-standard tools
- Corda has no native cryptocurrency
- Corda’s design is the result of detailed analysis and prototyping with our members and will be open sourced when the code has matured further.
More information is available in this Bloomberg article.