Recently, Tieto, a Nordic software and services firm, has partnered with R3 to help escalate the adoption of decentralized business networks on R3’s DLT platform, Corda. As partner Tieto will use Corda in its financial services, public sector, supply chain, and other projects.
R3’s Corda is a blockchain platform that enables organizations to transact directly using smart contracts while maintaining highest levels of privacy and security. By, this partnership, Tieto wants to ensure that its customers are in the fore in adopting this technology and can benefit from the disruptive new business opportunities that it provides.
Tieto already has experience in blockchain technology. Earlier in 2018, in co-operation with its customers, Tieto created a decentralized business network which enabled the incorporation of companies in an entirely digital manner. Here Tieto had its first interaction with Corda, together with Hyperledger Indy, another blockchain platform, which provided a decentralized identity platform for exchanging verifiable data.
"By combining both Corda and Hyperledger Indy, we now have the ability to build highly scalable global business networks to serve vast numbers of industry use cases involving record keeping, asset trading, multi-party process management, and decentralized contract signing. Through partnering with R3, we’re continuing on our mission to build smart societies where transactions between parties are trusted, fully digital and automated.”, said Markus Hautala, Head of Blockchain Solutions at Tieto.
Tieto has already partnered with Evernym – also an R3 partner – to provide services based on Sovrin network.
According to David E. Rutter, CEO at R3 “Decentralised business networks are the future of transaction technology and Corda’s unique design enables interoperability between these networks, avoiding the stranded assets and silos of the past. We look forward to working with Tieto on projects across a range of sectors and continuing to drive widespread adoption of the blockchain.”
