R3 Corda Partners With Kaleido After Ethereum Startup Spins Out of ConsenSys

R3 Corda Partners With Kaleido After Ethereum Startup Spins Out of ConsenSys 1

R3, the company behind distributed ledger technology (DLT) platform Corda, is edging ever closer to Ethereum, with news of a partnership with blockchain-in-the-cloud startup Kaleido.

The announcement comes following Kaleido’s emergence as a standalone company last month. The startup revealed Tuesday it was spun out of ConsenSys, the Ethereum-based venture studio founded by Joe Lubin.

“We spun out April 1. It’s been exciting for us to take that step forward,” Sophia Lopez, Kaleido’s chief operating officer, told CoinDesk in an email. “In addition to the partnership with R3 and going live with Corda available on the Kaleido platform this afternoon, we have launched the new V2 of our platform and website.”

There has definitely been a coming together of large blockchain factions of late, particularly between the Ethereum and Hyperledger communities. It’s not entirely novel for R3 to touch on Ethereum: there was a partnership between Corda and Ethereum-based Truffle last summer, for instance. But generally, the communities have kept their distance. (R3 CTO Richard Brown has stated on numerous occasions that full-broadcast blockchains like Ethereum are a fundamentally inappropriate architecture for enterprises.)

Kaleido provides so-called “consortium-as-a-service,” deploying blockchain networks via multiple cloud and hybrid platforms, and is working with the likes of Microsoft Azure and AWS. 

Under the new partnership, R3’s Corda software and “CorDapps” will run on Kaleido’s digital platform.

Kaleido also plays host to the commodities-focused trade finance blockchain Komgo, which includes Citi, ING, MUFG Bank, Shell and others. It is also involved in a payments project with Union Bank in the Philippines, whose future has become unclear after ConsenSys shut down operations in India and the Philippines late last year.

“Now is the time for consortia to develop stronger business models and position themselves successfully for the long term,” R3 co-founder Todd McDonald said in a statement. “The new offering we are announcing today will support business ecosystems moving into production faster than ever before, to reap the benefits of more efficient cost structures and faster time to value.” 

“Enterprises are looking for ways to unlock trapped value and transform risk into opportunity in their B2B networks,” added Kaleido founder Steve Cerveny. “Kaleido and R3 are solving these challenges by enabling customers to use the Kaleido consortium-as-a-service offering powered by R3’s leading enterprise blockchain technology, resulting in business networks moving from zero to one in record time.”

Zack Seward contributed reporting.

Disclosure Read More

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews



Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Millions in Cryptocurrency Stolen by Scammers in the Last Month According to Tenable Research
November 24, 2021
Behind The Scenes: How this Crypto Community Responded to + $50m Hack
October 18, 2021
Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021

Blockchain/Cryptocurrency Questions and Answers

Crypto casinos
How Does Bitcoin Casino Work + 2021 Beginner’s Guide
November 8, 2021
Cryptocurrency
How to Buy and Sell Cryptocurrency
November 8, 2021
What Are Bitcoin Futures And How Will They Work In 2022?
November 4, 2021
Ethereum
The Unconventional Guide to Ethereum
October 28, 2021
ICo Presale
The Science Behind ICO Presales…
October 14, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin50,610 0.74 % 0.81 % 11.23 %
Ethereum4,346.7 0.74 % 0.10 % 6.26 %
Binance Coin575.05 0.83 % 2.19 % 7.85 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Solana189.09 0.99 % 3.78 % 9.40 %
Cardano1.380 0.89 % 5.00 % 11.42 %
USD Coin1.000 0.14 % 0.20 % 0.17 %
XRP0.8190 0.96 % 1.35 % 17.91 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
Terra67.92 1.51 % 1.25 % 14.88 %

bitcoin
Bitcoin (BTC) $ 50,428.00
ethereum
Ethereum (ETH) $ 4,336.07
binance-coin
Binance Coin (BNB) $ 573.10
tether
Tether (USDT) $ 1.00
solana
Solana (SOL) $ 188.20
cardano
Cardano (ADA) $ 1.37
usd-coin
USD Coin (USDC) $ 1.00
xrp
XRP (XRP) $ 0.815865
polkadot
Polkadot (DOT) $ 29.15
terra-luna
Terra (LUNA) $ 67.75