2. Neurons from a mouse spinal cord. Credit: NICHD/S. Jeong
• Enables any business operating
a Corda node to transact
directly with any other
• Business networks can be built
on top
• Membership is open to all
Enterprise and Open Source
Corda users
The Corda Network
3. Image: David Jones/PA Wire
• Cheaper to operate and simpler to administer - many different
business networks using single set of infrastructure
• A single set of digitised assets, like Cash, can flow across applications
• Processes can be linked together; for example, supply chain and trade
finance. Business networks are more valuable than if standing alone
Why?
4. CC BY-SA 3.0 https://commons.wikimedia.org/wiki/File:Yaohan_food_court.jpg
• Participants e.g. bank, shipper, broker are like customers: Members
of one or many business networks
• Business Networks e.g. HQLAx, Marco Polo, B3i are like food vendors:
Provide membership control, KYC, onboarding, billing, dispute
resolution, pricing, marketing
• The Corda Network is like the food court: Sets standards and provides
tech services
The Network is structured like a food court:
5. CCBA-SA2https://www.flickr.com/photos/ronmacphotos/8704611597
Fairness: network doesn’t favour one party, industry or group
Transparency: it’s clear how decisions are made
Democracy: participants decide the rules
Stability: participants can make long-term plans
Flexibility: rules evolve with circumstances
Openness: no groups are precluded
Cost-effective: network costs minimised, shared
Independence: not beholden to external authority
6. CC BA-SA 2 https://www.flickr.com/photos/jonezes/143434918/
The Foundation:
A Dutch “Stichting”
• Not for profit
• Governed by a Board
• No shareholders
• Can pay invoices, charge
membership
• Can retain a surplus
• No dividends
7. CC BA-SA 2 https://www.flickr.com/photos/jonezes/143434918/
The Foundation will consider a
move to governance “on-
chain” and on-Corda
For example, the open-source
Cordite Digital Mutual
framework is showing promise
To meet timelines, start with
conventional voting, until the
Foundation is established
11. Mandatory governance:
• Requires a supermajority 2/3 board vote
• Constitutional change, membership / identity issuance criteria, fees
Discretionary governance:
• Technical parameters, service operations, technical implementation
https://nl.m.wikipedia.org/wiki/Bestand:
2016_EU_Referendum_Ballot_Paper.jpg
Two main types of voting event:
PRESS ASSOCIATION Photo. Rui Vieira/PA Wire
12. • The Foundation will provide a distributed Notary
• Pay per use, not flat fee, because a busy node may
generate 106 more than a quiet node
• Corda has a robust RAFT cluster notary
• Working towards Byzantine Fault Tolerance
• Business networks may operate separate notaries
13. Timelines
• Testnet now live with over 100 nodes. Marketplace integration
• Call for Notary cluster participation: now
• Network Trust Root Ceremony on September 14th
• Production update with an updated Corda 3.3 and improved
certificate hierarchy: mid-October
• Foundation establishment: November
• Governance transition: through 2019
https://retours.eu/en/06-simplon-railway-graphic-design/#11
The Corda Network enables any business operating a Corda node to transact directly with any other, for any purpose.
The network enables specialised business networks to be built on top.
Membership is open to all Enterprise and Open Source Corda users. Participation in a business network can be kept private.
CC BY-SA 3.0 https://commons.wikimedia.org/wiki/File:Yaohan_food_court.jpg