Corda Blockchain: Ruler of The Financial firm

by Blockchain council Blockchain certifications

Blockchain has revolutionized most of the business segments. The surge of this technology is often claimed to be a revolutionary change in the financial segment. Most of the financial firms are now using Blockchain technology to improve their business operations. Amongst the different Blockchain platforms, Corda has gained special recognition. There is a great demand for Corda developers, and banking and financial institutions are looking for individuals who have Corda certifications. So, why there is so much buzz about Corda certifications, we will be covering the same in this blog.

What is Corda?

Before going ahead, it is important to know about Corda. Undoubtedly, Blockchain has its set of advantages, but at the same time, we cannot undermine the fact that some glitches need to be overcome. In an attempt to solve the issues related to Blockchain platforms, Blockchain foundations have adapted to enterprise frameworks like Corda and Hyperledger fabric. Both these are enterprise solutions which is helpful for finance companies. These are enterprise Blockchain platform which can be accessed by only authorized people in the system.

Corda was built in 2016 by R3. It is a private network designed to manage and sync contracts between partners. It is also an open-source platform for developing apps or decentralized apps, but all this with some extra security.

Banks and financial companies can use the advantages which Corda has to offer and make the conventional system more effective and fast.

If we compare Corda with the conventional Blockchain platforms, then there are various similarities. For example, Corda allows the creation of immutable records for financial events. But, this is done in a private network which is not the case with the conventional Blockchain platforms that are public. Smart Contracts in Corda can be written in Java or any other JVM. The apps that are developed on Corda are called as CorDapps.

The Benefit To The Banks:

When it comes to the advantages of Corda, then these are similar to that of Blockchain, but with some extra security. Here are a few of them:

· Private System- Corda offers an enterprise solution for synchronization of data, cross-border transactions. But this is a permissioned and private Blockchain which can only be accessed by the people in the network. Thus it is safer than other Blockchain platforms.

· No Third-Party Interaction- Reduced Dependency on third-party is yet another advance of Corda Blockchain. Moreover, it is a decentralized platform where you don’t have to depend on the third party, thus ensuring that the transactions take place at a faster pace. This platform powers smart contracts to eliminate third-parties and enable instant payments.

· Real-Time Cross-Border Transactions- With Corda, sending money across an international border would be faster and easier. The peer-to-peer system ensures faster transactions and that to while adhering to all the compliances.

· Security Of Data- Since all the information on Corda is encrypted cryptographically, the data remains immutable and free from the attack of hackers. So, you are assured of the safety of all the information and data.

Banking and finance companies can reap all these advantages by adopting Corda platform. Corda architect help in the successful execution of the same. In fact, many banking companies are hiring Corda developers and promoting Corda certifications to have a skilled workforce who can help in the implementation of this technology.

Conclusion- If you wish to become a Corda expert and want to join Corda online certification, then Blockchain Council is offering this program.

Blockchain is making its way as a mainstream technology, and knowledge about this field is going to help you grow and have a strong future.