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SBI Holdings, R3 Embark on ‘Joint Venture’ to Boost Corda Blockchain Use in Asia

R3’s Corda platform aims for an adoption boost via a partnership with Japanese financial services giant SBI Holdings.

Japanese financial services company SBI Holdings will partner with software firm R3 to expand local use of its Corda blockchain platform, Cointelegraph Japan reported Dec. 5.

Quoting local news outlet Nikkei, the report reveals that SBI, which is involved in multiple cryptocurrency and blockchain-related activities, will expand on its existing investment in R3 to create a “joint venture” aimed at promotion.

“Europe is the most advanced in blockchain product development,” R3 CEO David Rutter told Nikkei in an interview:

“The new joint venture will strengthen the Japanese language service, and promote adoption.”

The company added its R3 partnership would extend beyond Japan to cover the wider Asian space.

R3 focuses on using Distributed Ledger Technologies (DLT), such as blockchain, to facilitate efficiency increases primarily for banking partners. Based in the United States, the startup has clients throughout the world, which currently number around 200.

Deals continue to come, Cointelegraph this week reporting on a group of French banks completing a Corda-based Know Your Customer (KYC) trial, while R3 also announced that the first cryptocurrency added to its payments DApp would be Ripple (XRP).

SBI is also deeply entrenched in XRP, its joint money transfer operation SBI Ripple Asia gaining Japanese regulatory approval in September.

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UK Land Registry Begins New Phase of Blockchain Research Project

The U.K.’s national land registry is moving into the second phase of its ongoing blockchain research effort.

The HM Land Registry announced Tuesday it was partnering with blockchain company Methods, which plans to build on R3’s Corda framework to develop a platform able to store land registration information and streamline the process for buying or selling properties, according to a press release.

Dubbed Digital Street, the HM Land Registry’s research began last year when it first announced the project. In addition for its desire to streamline the buy-sell process, the agency said it hoped to store more “granular information” using a blockchain platform.

In a statement Tuesday, HM Land Registry Chief Executive Graham Farrant said the agency aims to become “the world’s leading land registry,” citing “speed, ease of use and an open approach to data” as areas he wants to excel at.

Farrant added:

“By working with Methods on Digital Street we are taking another step toward that goal, as we explore how new technologies like blockchain can help us to develop a faster, simpler and cheaper land registration process.”

R3 CEO David Rutter said the company “looks forward to working with the world’s most well-recognized land registry.”

Like Farrant, he noted the technology’s potential to make transactions more efficient, and said R3 would be “working closely” with the Land Registry to “turn this potential into reality.”

HM Land Registry image via chrisdorney / Shutterstock

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