Software development company MonetaGo has switched over from Hyperledger Fabric to R3's Corda as an enterprise blockchain platform, economics magazine Global Trade Review reported on Feb. 26.
MonetaGo, which previously had ties with both platforms, will now use Corda as it continues its expansion into Mexico and other international markets ahead of a current trial in India.
The company offers blockchain-based fraud mitigation solutions for banks and previously operated as a cryptocurrency exchange before changing direction.
"As we have seen the distributed ledger technology market unfold, it has become clear R3 is emerging as the leader in the financial services space."
Corda has gone from strength to strength in recent months as new partners come on board.
Most recently, a three-bank transaction in Germany used the platform to settle a 100,000 euro transaction.
Hyperledger, the open-source blockchain product from the Linux Foundation, also continues increasing its membership, which includes JPMorgan Chase, American Express and, as of this month, Italy's postal service.
At the same time, criticism of enterprise blockchain developments has appeared from cryptocurrency industry figures recently.
As Cointelegraph reported today, payment network Abra's CEO Bill Barhydt poured cold water on the private blockchain phenomenon.
"It's all going to fail miserably," he told Fortune in an interview.
Fintech Firm MonetaGo Pivots to R3's Corda After Spell Leveraging Hyperledger Fabric
Published on Feb 26, 2019
by Cointele | Published on Coinage
Coinage
Recent News
View All
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.