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R3 releases 'Token SDK' developer toolkit for business tokens on Corda

Image Credit: Corda Twitter

Wed, 17 Jul 2019, 06:16 am UTC

Enterprise blockchain technology firm R3 has launched “Token SDK,” a developer tool kit that allows businesses to roll out tokens on its Corda blockchain platform.

As per its blog post, the 1.0 version of its SDK will do for Corda what ERC20 did for Ethereum. It will provide business developers what they need to launch native tokens on the Corda platform.

Emerging digital asset exchanges and businesses looking to securitize real-world assets are already using the Token SDK to represent debt equity and cash instruments on Corda, as well as exploring the tokenization of other goods, commodities, and services,” R3 wrote in a document filing about the development kit.

The SDK offers a standardized way of defining, issuing, using and trading the tokens. It will provide financial institutions and application builders with a standard token library and a consistent developer experience to issue, list, exchange and settle digital assets on the Corda platform.

In addition, participating businesses can gain access to a system designed for enterprise security with settlement finality, strict privacy, and ability to utilize legal statements in smart contracts to fulfill agreements.

Financial transactions are done with near real-time settlement abilities and with guaranteed security. R3 claims that Corda can process up to 6,300 trades per second.

There’s little or no waiting in the blockchain world. That’s because blockchain enables direct and irrevocable transactions between counterparties,” R3 said.

R3 also said that a number of financial institutions including SIX Digital Exchange (SDX), IVNO, ValueOnChain, and Tradewind Markets, are already building tokens solutions on Corda.

The roll-out follows after reports have surfaced that R3 is reportedly considering to launch an initial public offering (IPO). By far, no final decisions have been made yet, but insiders said the company is in talks with advisers, and potential buyers are already expressing their interest.

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