Enterprise Blockchain Firm R3 Continues Expansion in London with Focus on Engineering Team Growth

Enterprise Blockchain Firm R3 Continues Expansion In London With Focus On Engineering Team Growth

The enterprise blockchain software firm, R3, is doubling down on their engagement with London as they look to swiftly look for new recruits in their engineering team. The number of employees is supposed to boost from a 215 mark to 300 by the end of 2019.

R3’s Corda platform is now being utilized for everything from supply chain transparency to managing property sales. With this robust growth of Corda adoption into a diverse range of different markets and industries, the company needs someone with exceptional skills in enterprise technology.

David E. Rutter, CEO of R3, said:

“There is an enormous opportunity for London post-Brexit. While there clearly remain some uncertainties, we believe the city is well placed and established to thrive in the coming years. That’s why we are confident in making this substantial long-term commitment now. R3 is committed to ensuring the technology underpinning Corda is cutting-edge. It makes complete sense to look to London as we further develop the ways that blockchain can be developed and deployed. As our software gains more use cases and across more sectors, we will be looking to invest further in top talent – London and elsewhere.”

Market analysis research firms believe that the blockchain market will see massive growth in the coming years, noting its intersection with financial instruments and tradable assets. The market for 2019 is $2.2 billion but is expected to reach $23.3 billion by 2023. Back in 2015, R3 gathered up numerous banks as partners to work with its blockchain infrastructure development and in 2017 the company raised $107 million in a Series A funding. Since then, investments in R3 have reached $112 million.

A couple of months back the Corda Network Foundation had announced the appointment of its transitional Board of Directors for the next year. The appointment marked the beginning of a transition period which moved the governance of Corda Network from the enterprise blockchain software firm R3 to a separate legal entity.