R3 Co-founder Says Banks’ Blockchain Applications Are Shifting Toward Revenue Generation, Advances Next-Generation Corda with the Solana Foundation
BIBIBI
AT A GLANCE
R3 The co-founder said banks’ blockchain objective is shifting from cost reduction to revenue generation, and expressed optimism about tokenization of fixed income and alternative assets.
Article
R3 Co-founder: Banks’ blockchain strategy has shifted from cost reduction to revenue generation; fixed income and alternative assets will become new tokenization hotspots
BlockBeats reported that October 21, a blockchain technology developer,R3's co-founder Todd McDonald said on StrataMedia’s Talking Tokens podcast that banks’ approach to blockchain is shifting from early experimentation to practical commercial applications. They are beginning to use blockchain to launch new products and reach new customers, with the core objective shifting from cost savings to revenue generation.
McDonald believes open blockchain networks have greater development potential and that all markets will move on-chain in the future.R3 previously mainly provided private blockchain networks for banks and is now working with the Solana Foundation to develop the next-generation Corda into a protocol based on Solana, taking an early position in yield vaults that allow investors to deposit stablecoins and receive tokens backed by real-world assets.
McDonald also said that over the coming 1 years, fixed income and alternative assets are expected to become popular areas in tokenization, with development potential exceeding the currently more mature tokenization of USD and money market funds.R3 stated that its on-chain real-world asset scale has exceeded 10000000000 USD, with investors including Bank of America, HSBC, Wells Fargo, and Barclays.
Original link https://m.theblockbeats.info/flash/372825
Key points
01
BlockBeats stated that R3's co-founder Todd McDonald expressed these views on StrataMedia’s Talking Tokens podcast.
02
Todd McDonald said banks are beginning to use blockchain to launch new products and reach new customers, with the core objective shifting from cost savings to revenue generation.
03
Todd McDonald believes open blockchain networks have greater development potential and that all markets will move on-chain in the future.
04
The article stated that R3 is working with the Solana Foundation to develop the next-generation Corda into a protocol based on Solana.
05
The article stated that this initiative includes yield vaults that allow investors to deposit stablecoins and receive tokens backed by real-world assets.
06
Todd McDonald said that in the coming 1 years, fixed income and alternative assets are expected to become popular tokenization areas.
07
R3 stated that its on-chain real-world asset scale has exceeded 10000000000 USD。
08
The article stated that R3's investors include Bank of America, HSBC, Wells Fargo, and Barclays.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
The core of this content is:R3 The co-founder believes banks are no longer using blockchain solely to reduce back-office costs, but also to develop new products that can generate revenue.R3 It is reportedly integrating the next-generation Corda with Solana and exploring yield-bearing products backed by real-world assets. The view on fixed income and alternative assets is the interviewee’s forecast of the future market.
Why it matters to readers
If the relevant collaboration and products are implemented, they could drive banks and institutions to issue and manage more real-world asset tokens on open blockchains; however, the original article does not provide data on product launches or customer adoption.
Beginners can understand this as traditional financial institutions attempting to move assets such as bonds onto the blockchain. It is important to distinguish between statements of collaboration that have already occurred,R3’s self-reported scale, and the interviewee’s forecasts of future hotspots; forecasts should not be treated as certain outcomes.
Risks and unknowns
The content is BlockBeats’ account of podcast remarks and does not provide the full original podcast quotations.
R3 Technical details, launch timing, and actual deployment status of the collaboration between Solana and the Foundation are not specified in the evidence.
The release date, scale, and institutional adoption of the yield vaults are unknown.
Related Developments
Loading event timeline…
The on-chain real-world asset scale of “more than 10000000000 USD” is self-reported by R3; the evidence provides no independent corroboration.
The claim that fixed income and alternative assets will become hotspots in the coming 1 years is Todd McDonald’s judgment; the outcome has not yet occurred.
The evidence title states “October 21,” but does not specify the year.
Related concepts
Open blockchain networks
This term is not in the glossary yet. Browse related concepts in the glossary.
