R3: Blockchain-Consortium Considers IPO
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July 14, 2018
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R3, a blockchain-consortium consisting of over 200 financial companies, is contemplating the idea of launching an initial public offering (IPO).

Reportedly advisors are being consulted regarding the matter, however, at the moment no definite decision has been made by the CEO of the company and the investors, while this prospect has potential buyers interested. The company stated that 'any decision that they make will have their initial goal in mind, to deliver a blockchain solution for the widest possible business community.'

Lately, it was rumored that R3 was heading in the direction of bankruptcy, however, this was not confirmed. A managing director of the consortium claimed that this was not the case, even though this was not confirmed in a financial report. Nevertheless, it does seem that the company is falling short of its planned revenue.

The company's open source blockchain for business', Corda, is already available, and a commercial 24/7 version of the software has recently been released.

R3 are considering their options in the light of the development of the crypto market. A research by Deloitte, an international network of companies that provide consulting and auditing services. it can be seen that around a third of the financial executives who took part in the questionnaire plan to invest in crypto, while another 30% are ready to start using blockchain now.

Source: bloomberg.com

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