R3 Confirms $150 Million Fundraising And Introduces Its Blockchain Platform, Corda
According to reports, David Rutter, founder and CEO of R3, a four year old blockchain startup based in New York, confirmed earlier reports that R3 is raising $150 million, saying that it is “not yet over,” but that R3 “has made very good progress,” and “will end a part of the New Year early.” Rutter also gave a detailed introduction to R3’s blockchain platform, Corda, which was developed by CTO Richard Gendal Brown of the company, who was an executive architect for industry innovation and business development at IBM.
Blockchain company R3 is expected to complete a financing of $150 million in the first quarter
Analysis based on this information:
This message highlights two major points regarding R3, a four-year-old blockchain startup based in New York. Firstly, the company’s founder and CEO, David Rutter, confirmed that R3 is indeed raising $150 million. Secondly, Rutter provided a detailed introduction to R3’s blockchain platform, Corda, which was developed by the company’s CTO, Richard Gendal Brown.
The fact that R3 is raising $150 million is significant news for several reasons. Firstly, it indicates that there is still a high level of interest in blockchain technology among investors, despite the recent downturn in the cryptocurrency market. Secondly, it suggests that R3 has a strong business plan and a clear vision for its future. Finally, it provides the company with a significant amount of capital to continue developing its products and services.
Rutter’s comments suggest that the fundraising process is ongoing, but that R3 has made good progress so far. He also indicates that the company will “end a part of the New Year early,” which could suggest that the fundraising is likely to be completed soon. However, it is unclear what the funds will be used for, although it is likely that they will be used to expand R3’s operations and further develop its blockchain platform.
The introduction to Corda is also significant, as it highlights the capabilities and potential of R3’s blockchain platform. Developed by Richard Gendal Brown, who was an executive architect for industry innovation and business development at IBM, Corda is designed to be a platform for financial applications. It is open source, which means that it can be used by anyone, and it is also modular, which allows developers to customize it to suit their specific needs.
R3’s focus on financial applications makes sense, given the potential of blockchain technology to revolutionize the financial industry. Corda’s modular design and open-source nature also make it an appealing platform for developers who want to create their own blockchain applications. Overall, R3’s fundraising and introduction of Corda suggest that the company is well-positioned to continue growing and innovating in the blockchain space.
In summary, R3’s confirmation of its $150 million fundraising and introduction of Corda highlight the company’s strong vision and potential for growth. These developments also suggest that blockchain technology remains a significant area of interest for investors and developers alike.
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