R3’s Corda is a scalable, permissioned peer-to-peer (P2P) distributed ledger technology (DLT) platform that enables the building of applications that foster and deliver digital trust between parties in regulated markets. Corda natively supports strong identity, privacy, scalability, and security requirements, making it the DLT platform of choice for financial services and many other strictly regulated industries.

Corda is a permissioned "distributed ledger" coupled with a workflow messaging network. As opposed to other blockchains, there is no global shared ledger in Corda. Corda communications are peer-to-peer on a "need-to-know" basis without any broadcasts. This need-to-know approach is quite different from Hyperledger Fabric’s network "channels". On Corda, each entity simply maintains its own ledger which records the firm’s positions with counterparties. Corda provides the network protocol for nodes to exchange messages about changes to information, or state transitions. Every Corda node involved in a transaction will verify if the transaction is acceptable according to rules defined in the CorDapp contract.