Raiffeisen Bank has joins R3 Blockchain Consortium

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The bank, which manages a banking network in central and eastern Europe, confirmed its participation in the enterprise-oriented DLT project, indicating its desire to "exchange and collaborate with peers" and develop the security and convenience of using for RBI’s initiatives on the own blockchain.

The R3 network consists of more than 160 international members from various industries, including banks, financial institutions, technology companies, trade associations and others.

In May of this year, the group allocated more than $ 100 million in new funding, and then released a beta version of its Corda software platform in June.

Just last week, R3 showed that it more deeply integrate Corda with Azure cloud service from Microsoft to simplify the development and deployment process for business and facilitate the commercial deployment of R3’s CorDapp applications.