Revealed exclusively to CoinDesk, Cordite, an open-source community that’s independent from R3, but building solely on the code it pioneered, is about to come out of stealth mode.
Cordite promises to do for enterprise blockchains what the ERC-20 standard did for ethereum: allow the creation of different tokens representing various kinds of assets on the same network.
Founded in 2014, R3 was designed to be the regulation-friendly shared-ledger provider, one that drew a contrast to cryptocurrency chains and their “anarchic” approach to governance.
Rather, Cordite is being positioned as an answer to a range of challenges facing the developers of distributed ledger technology (DLT) inside banks and corporate entities.
For example, the equity and debt trading desks of banks could start to look at the issuance of debt or equity in the form of digital assets.
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