DLT Newsletter | April 2018

DLT Newsletter | April 2018

DLT Newsletter | April 2018

Last week, on the 16th of April, we hosted an amazing DLT Meetupat our headquarter located in the TechQuartier in Frankfurt with more than 200 attendees. Together with R3 and our guests from AccentureCommerzbank and The Loan Exchange, we pointed out the relevance of Corda as a DLT platform for the financial services industry and we demonstrated practical use-cases and prototypes based on R3’s Corda platform.

The number of the attendees was a strong indication of the growing interest in the application of DLT solutions within the financial industry and that the community is apparently ready for DLT applications.

Brief summary of the speeches

Nils Beier from Accenture introduced the event by highlighting the relevance of DLT in general, including an actual market overview as well as future developments. Martin Valenta from the Frankfurt School of Finance and Management went ahead by comparing Corda with Ethereum and Hyperledger Fabric. Afterwards, Stefano Franzfrom R3gave an introduction to Corda by depicting its different core concepts. Christoph Impekoven and Delin Mathewshowed how a promissory note loan (Schuldscheindarlehen) transaction can be implemented and executed based on a prototype using R3’s Corda platform. Next, Angela Koll and Ulrich Kineka from Commerzbank gave a sneak preview of its smart ecosystem platform called MarcoPolo, which provides sophisticated trade and supply chain finance solutions. In the second session, Stefano Franz provided a more technical insight into Corda by explaining how to build a CordApp in less than 30 minutes. The event was closed by Mattia D’Alessandra and Stefano Maffullo from The Loan Exchange, who presented a live demo of a secondary loan market place based on Corda.

Key takeaways on Corda and on our prototype

Christoph Impekoven and Delin Mathew presenting our Corda-based prototype for executing a promissory note loan (Schuldscheindarlehen) among different nodes.

We showed that it is already possible to setup and execute a promissory note loan transaction based on R3’s Corda platform. Our Corda prototype that was introduced at the event is based on the use case of issuing a promissory note loan (Schuldscheindarlehen) between a bank and a corporate and selling multiple tranches to one or more investors. The promissory note loan is based on different attributes (like maturity, interest rate), requirements and constraints. We introduced our prototyping process which included the customization of the user interface, implementation of a promissory note loan transaction as well as the setup of case-specific nodes required to operate within the network.

The application of R3’s Corda platforms is beneficial for the financial services industry as it is based on a permissioned network structure (private network). Thus, data is only shared between parties that are authorized to see it. Apart from that, Corda, with its high TPS performance and modular architectural approach convinces that it has a leading edge over the other existing technologies.

For enabling the interoperability, Corda is based on common technological standards, such as the Java Virtual Machine (JVM), which enables the application of every compatible programming language (such as Kotlin, Java, Scala etc.) and relational and SQL-based database integration or Apache ActiveMQ for providing an efficient and stable node communication based on REST/ JSON webservice API. For integrating functionalities, CordApps can be plugged onto the system architecture (as stand-alone, web-based or remote via RPC).

The prototype consists of a graphical user interface (GUI) which is designed to provide a user-friendly interaction for starting the nodes and interacting with them throughout the network. Based on this GUI, transactions can be generated and executed. The values for the promissory note loan transaction (such as amount, interest rate, maturity, investors etc.) can be entered within the specific interface. Furthermore, the certificate containing the contract legal conditions is uploaded and can be viewed. After executing the transaction, the transaction states can be monitored from a transaction overview window.

In short, R3 provides State-of-the-Art technology with its Corda platform, which simplifies and accelerates the adoption and integration of DLT to enterprise’s legacy systems based on its modular architecture and its focus on pluggable CordApps. If your company is ready for DLT and it is suitable for permissioned network setup, Corda should be the first choice.

Together with experts from R3, we provide a 12 week prototyping program which includes the explanation of the strategic definition of Corda, development of case-specific CordApps, system integration and UI setup.

Live stream to our prototype demo of the event:

 

Event slide deck

Click the image below to view the consolidated slide deck including the presentation material of all speeches:

 

 

 

Request a free live demo of our Corda prototype

If you are interested in our services or if you like to request a live demo of our prototype, please use the following contact form to get in touch with us: