B3 Announces Its New Blockchain Platform Corda

In mid-August, the Brazilian Stock Exchange (B3) announced the institution of Corda, a platform based on blockchain technology that will be used to verify credit instruments. The platform will also be adopted by the Interbank Payments Chamber (CIP), the Receivables Central (CERC) and the Credit Rights Records Center (CRDC).

The former system implied that the first company to cash-in the credit instrument holds the right to it, which became chaotic to the market. Now, with the implementation of Corda, the credit instruments will be digitally registered and its status shared amongst the participants.

“The immediate impact is the increase of credit offering because the banks, fintechs and factorings will have more appetite for this kind of operation as the credit instruments become a super asset to be used by the institutions.”, stated Marcelo Maziero, founding partner of CERC.