Blockchain consortium R3 revealed some details about the project open source Cordite, designed to make corporate blockchains what the standard ERC-20 made for Ethereum allow the creation of different tokens representing the various asset types in the same network. It is reported СoinDesk.

Feature of Cordite is that the project focuses exclusively on the banking industry. The project team supports Cordite Royal Bank of Scotland (RBS), one of 30 the world’s largest financial institutions.

“As the proliferation of blockchain applications in the corporate sector, will increasingly be a need for the tokens, and the cost unit in such distributed networks”, — said the representative of RBS Richard crook.

The idea of corporate tokens on the basis Corda occurs in stressful R3 a time when the media and social networks, increasingly there is information about the poor state of Affairs in the consortium.

However, the new initiative suggests that R3 does not stand still. Technologies around open source is growing, dynamic community, and as representatives of the consortium, Cordite will be one of many upcoming launch of the so-called “CorDapps”.

“Cordite is not the invention of R3. The platform was created by the community itself, seeing in her the necessity, — said the technical Director of R3 Gendal Richard brown. —Corda is a unique platform that develops”

Thus, Cordite is one of the examples of corporate technologies and supported by the banking sector sort of experiment with the assets on the blockchain.

Recall that in late may, the German banking group Commerzbank and industrial conglomerate ThyssenKrupp on the platform Corda successfully performing currency exchange operations.

ForkLog also previously reported that a consortium of insurance companies B3i chosen for their new product platform from Corda R3.