R3 is a consortium of world’s leading financial institutions that built one of the open source blockchain platforms called Corda in 2015. Corda is a cutting-edge blockchain platform, which enables institutions to transact directly with smart contracts by removing costly frictions in business transactions. Corda does not have a cryptocurrency or built-in token and is a permissioned blockchain platform which only allows the authorized participants to access the data, not the entire network. Since it operates in a permissioned mode, it enhances privacy and offers fine-grained access control to digital records. Designed initially by the financial industry, for the financial sector, Corda is now being applied in various other uses cases like healthcare, trade finance, supply chain, and government authorities.