Blockchain platform developed by banks to be open-source

LONDON: A blockchain platform developed by a group that includes more than 70 of the world's biggest financial institutions is making its code publicly available, in what could become the industry standard for the nascent technology. 

The Corda platform has been developed by a consortium brought together by New York-based financial technology company R3. It represents the biggest shared effort among banks, insurers, fund managers and other players to work on using blockchain technology in the financial markets.