R3, a distributed database technology company is one of the rising players in the blockchain sphere seeking to leverage the technology to build secure blockchain platforms for businesses. They recently announced the launch of Corda Enterprise, a commercial and business-oriented version of the previously launched Corda blockchain platform.
The Corda Enterprise project took three years to perfect and is set to offer businesses new features not available on other blockchain platforms including security, 24/7 support, disaster recovery and many other attractive perks. Corda Enterprise is optimized to meet the requirements of modern day businesses delivering industry-level data security and application solutions for companies in insurance, healthcare, and the shipping industry.
One of the major features of the Corda platform being advertised is the ‘first-ever Blockchain Application Firewall.’ R3 claims that Corda Enterprise blockchain firewall makes it stand out from other blockchain systems currently employed by businesses. The Corda’s blockchain firewall application will include limiting aspects of operational blockchain node communication within various environments and will operate in a manner to handle specific network requirements.
With the deployment of Corda Enterprise, companies could eliminate reconciliation costs and the need for trusted intermediaries since this Corda version is adaptive and can handle the execution of complex logic and the direct exchange of assets in a private manner. The platform is intended to be agnostic to the company’s developmental stage or its industry size.
Inter-node communication is a crucial prerequisite for companies looking to select blockchain applications; Corda Enterprise efficiently fulfills this purpose. The platform was designed in such a way that it could be deployed inside corporate data centers while maintaining secure communication with nodes around the globe.
Despite these merits, some worry that a blockchain firewall could adversely affect interoperability, which is a key blockchain component. Richard Gendal Brown, R3’s CTO shared a similar concern when interviewed by Coindesk.
According to him:
“There is this dilemma, because blockchain nodes need to be able to connect to the core systems of a firm, but also need to be able to connect to other nodes across the network [and in]very complex networking architectures.”
However, Brown believes that permitting a high-level of connectivity between operational Corda nodes will help counter this problem. He is confident that the Corda system can offer businesses the “best of both worlds” in the area of communication and security since the firewall “protects the Corda node from the outside whilst allowing through just the traffic that should come through.”
Discussing Corda’s mode of operation, Brown says that the Corda’s blockchain firewall permits the integration of Corda applications with other internal applications. Going further, he explained that part of the Enterprise Corda node is situated outside the network in an internet-visible, but heavily secure area which he called the “demilitarized zone.” This region of the corporate network will act as an inspector barring or allowing data to flow in or out of the firm. Brown strongly believes that this approach will be “transformational.”
To enforce interoperability, R3 built a shared identity layer into Corda Enterprise. This layer is used to run the platform’s applications, services, consensus, and governance, allowing for seamless open transactions between business partners. Corda Enterprise also boasts other key features including real-world corporate IT environment optimization such as 24/7 support, performance monitoring, high availability, and disaster recovery as well as Oracle and SQL database support, cross-version wire and cross-distribution compatibility. R3 is confident that these features will boost Corda Enterprise’s marketability compared to its traditional counterparts that are limited by problems associated with scalability, interoperability, and asset mobility, making them unfit for global commerce.
In the wake of several data breaches, hacks and data theft around the world, companies are now looking at better systems that can be utilized for the protection of sensitive data. R3’s Corda Enterprise offering couldn’t come at a better time. Although the company was rumored to be going bankrupt and heading to the so-called ‘auction block’, experts believe that Corda Enterprise’s launch could change their fortunes, seeing as it is ideally suited to capture the niche of companies currently seeking data security solutions.