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Provo, UT, Oct. 01, 2019 (GLOBE NEWSWIRE) -- The Sovrin Foundation, an international nonprofit focused on the advancement of self-sovereign identity, welcomes R3, an enterprise software blockchain company, as the newest Steward of the Sovrin Network. R3 joins more than 75 organizations which help support the operation of a decentralized global public network built to enable self-sovereign identity on the internet.
As the leader of the largest blockchain ecosystem in the world, the open-source platform Corda, R3 has enabled businesses to streamline their operations through smart contracts and self-sovereign identity, which has been integrated into the platform through Cordentity, a Corda distributed application.
“The Sovrin Foundation is thrilled to have R3 join the Sovrin community as a Steward,” says Heather C. Dahl, Executive Director & CEO of the Sovrin Foundation. “This type of collaboration between organizations with purpose-built blockchains, where privacy is the shared goal, is what the Foundation seeks in order to create a stronger, interoperable blockchain ecosystem.”
As a Sovrin Steward, R3 will help maintain the security and accessibility of the Sovrin Network by running a validator node in consensus with the nodes run by the other Stewards. The Sovrin Foundation approves Stewards from a diversity of regions, industries, and sizes to ensure the network maintains decentralized and has the capacity to provide Identity for All.
“Our Stewardship of the Sovrin Network comes at a time when the need to govern digital identity is stronger than ever,” says Abbas Ali, Head of Digital Identity at R3. “The power for organizations and individuals to exercise control over their digital footprint aligns with R3’s own ethos of developing blockchain in an ethical and sustainable way. Our Corda platform is designed to enable private transactions, and Cordentity works alongside the Indy ledger to provide a solution uniquely suitable for self-sovereignty in the digital world. We look forward to seeing the Sovrin Foundation achieve continued success.”
Earlier this year, the Sovrin Foundation established the Sovrin Alliance to provide its members the technical, business, and marketing guidance needed to support the development of an SSI proof of concept or pilot. As a nonprofit organization, the Sovrin Foundation depends on the generous contributions from the companies, organizations, and people that have joined the Alliance and are interested in supporting the advancement of self-sovereign identity. If you wish to make a donation or join the Sovrin Alliance, visit https://sovrin.org/join-the-sovrin-alliance/ or email email@example.com. For more information about becoming a Sovrin Steward, please visit https://sovrin.org/stewards/.
R3 is an enterprise blockchain software firm working with a global ecosystem of more than 300 participants across multiple industries from both the private and public sectors to develop on Corda, its open-source blockchain platform, and Corda Enterprise, a commercial version of Corda for enterprise usage.
R3’s global team of over 200 professionals in 13 countries is supported by over 2,000 technology, financial, and legal experts drawn from its vibrant ecosystem.
The Corda platform is already being used in industries from financial services to healthcare, shipping, insurance and more. It records, manages and executes institutions’ financial agreements in perfect synchrony with their peers, creating a world of frictionless commerce. Learn more at www.r3.com and www.corda.net.
About the Sovrin Foundation
The Sovrin Foundation is a nonprofit organization established to administer the Governance Framework governing the Sovrin Network, a decentralized global public network enabling self-sovereign identity on the internet. The Sovrin Network is an open source project operated by independent Stewards and uses the power of a distributed ledger to give every person, organization, and thing the ability to personally control their own permanent digital identity.
Helen Garneau Sovrin Foundation helen@Sovrin.org