R3, the creator of Corda blockchain has launched a public Corda Network Foundation that will oversee a public network of blockchain nodes running on the network, Corda Network, announced via a press release.
Currently governed by R3, the Corda Network is an independent, not-for-profit foundation will oversee the foundation. The foundation members will be elected later this year.
From the announcement:
Corda Network provides a common layer of identity and consensus for participants on Corda and Corda Enterprise. It is an open shared infrastructure, which enables compatibility between participants on the network.
Corda Network allows for the transfer of data and digital assets between communities of nodes (business networks) and different CorDapps. Participants can therefore create private ecosystems within their organisation, or with trusted commercial partners, while remaining interoperable with the wider Corda community where appropriate. Relevant information can be shared between applications and organisations, creating efficiencies and avoiding duplication. Corda Network also includes identity verification and privacy services to ensure that participants can operate on the network safely.
It provides a global and openly governed network enabling low-friction onboarding of participants to Corda as well as helping developers quickly, securely, and economically develop new applications for Corda and Corda Enterprise.
Governance and the work encouraging adoption of Corda Network will be transitioned over to the new Corda Network Foundation. The Foundation’s board will be comprised of directors drawn from participants on the Network and elected by members of Corda Network. It will operate independently of R3 and its decision making will be transparent and available to all network members.
Key services of Corda Network
Identity Service
The Identity Service controls admissions of participants into Corda Network. The service receives certificate signing requests (CSRs) from prospective network participants (sometimes via a business network operator) and reviews the information submitted. A digitally signed participation certificate is returned if:
The participant meets the requirements specified in the bylaws and policies of the foundation (broadly speaking, limited to sanction screening only);
