United States leading trading technology firm IPC recently announced it has collaborated with R3 an enterprise blockchain software consortium to back the Corda blockchain networks on its Connexus ecosystem.
Connexus Cloud is a financial markets cloud-based ecosystem for voice, business communications, compliance, and data. The IPC product includes liquidity revenues, market data, financial industry firms, clearing firms, and energy companies.
The Corda blockchain applications known as CorDapps would now be accessible through IPC’s Connexus Cloud which is a high-performance financial markets cloud solution for voice and data. The blockchain utilizes smart contracts that are stimulated by volatility or price developments in the markets.
Through collaborating with R3, the IPC will reportedly offer capital market data, making the sources of data utilized by smart contracts dubbed oracles are more accurate.
Financial Industry’s Interest in Blockchain
Robert Coole, the Director of product management at IPC said that the financial industry interest in the blockchain technology has considerably increased in the recent years and with the constant growth of investment to back this evolving technology.
He further added that IPC has been estimating how blockchain can be used to benefit the firm’s customers and looks at R3 and the Corda platform as one of the key drivers for user adoption of new blockchain-enabled applications in the markets.
The IPC’s Connexus Cloud has a closed community model and performance characteristics that are ideal for blockchain deployments. By allowing access to R3 Corda business networks, which are usually blockchain application customer communities. The cloud ecosystem ensures the firm’s users are able to deploy R3 Corda nodes in any private, hybrid and public cloud platform with immediate access across existing network connectivity.
David E. Rutter, the CEO of R3 said that their goal is to help to enable a fully efficient, transparent and integrated marketplace for liquidity exchange. He added that they are overwhelmed to be partnering with IPC as its Connexus Cloud provides global coverage, offering access to a diverse range of market participants.
IPC is a service and technology leader powering the global financial markets. The firm aids customers predict change and solve issues, by setting the standard with industry expertise, comprehensive technology, and exceptional service.
The firm with a customer first mentality brings together one of the most diverse and largest global financial ecosystems bridging all market participants and asset classes. IPC empowers the community to transact, interact and react to market challenges and changes.
R3 is an enterprise blockchain software company operating with a broad ecosystem of more than 200 partners and members over multiple industries from both the public and private sectors to evolve on Corda.
The R3 Corda ecosystem is already being utilized in companies from financial services to shipping, healthcare, insurance and many more. It manages, executes and records firms financial agreements in synchrony with peers by creating a world of frictionless commerce.