Financial innovation company R3 announced that it has collaborated with Intel in a move to strengthen data privacy and security for its blockchain platform Corda.

The collaboration was announced during the Intel Xeon Scalable processor launch event in New York that took place on 11th July, 2017. The collaboration enhances Corda’s privacy by adding the support for key elements of Intel’s security and privacy toolkit.

“Intel is the perfect partner for Corda. The platform was developed from the ground up to address the specific needs of the industry, with design choices such as its unique approach to data privacy and security that make it the only appropriate DLT solution for regulated wholesale financial markets,” David Rutter, CEO of R3 commented.

Corda’s unique approach to data privacy and security is ground-breaking in the blockchain space, since Corda sends data to those who have a ‘need to know’, the release stated. Corda’s growing community base is welcoming these innovations that make it important for both the companies in advancing blockchain adoption.

“Intel Xeon Scalable processors will improve the privacy and security of blockchain solutions. R3’s collaborative approach and Corda platform places R3 in a unique position to drive the evolution of market infrastructure for the next generation of financial services,” Rick Echevarria, Vice President, Software and Services Group and General Manager, Platforms Security Division at Intel Corporation, said.