R3 May Launch Separate Blockchain For DeFi Apps

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The R3 consortium, the developer of the Corda platform, is considering launching a separate network designed specifically for DeFi applications, as well as its own token.

At CordaCon 2021, an R3 spokesperson revealed that a proof of concept (PoC) is being developed. It should be an open and decentralized platform with privacy features and a dedicated token. The project is currently running under the tentative title Obscuro.

“R3 is working on how to integrate the traditional financial system and DeFi, as we are in a unique position to do so. We believe that both systems will merge and become a single, hybrid world, “- said the representative of R3.

Technical preparations should be completed in 2022, but it is not yet clear whether the full launch of the new platform will take place. According to a spokesman for R3, a lot now depends on regulators, as there are many “unresolved issues” that need to be answered before launch.

“All our steps are taking place in accordance with the regulators, but now we want to go ahead, at least from a technological point of view, so that when the situation with the requirements of regulators becomes clearer, we already have a lot in place,” said the representative of R3.

At the end of last year, it was reported that 15% of enterprise blockchain systems were built on the R3 Corda platform. The market leader is the IBM Hyperledger platform, which runs 48% of these systems.

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