İşbank Became The First Turkish Bank to join R3 Blockchain Platform

Joining R3’s global Blockchain Network on March 30, 2020, İşbank became the first Turkish Bank to join R3’s Corda platform, which is the largest Blockchain platform in the world.

R3 is a software development firm that operates as an enterprise Blockchain platform and hosts more than 300 participants from both public and private sectors under its extensive ecosystem. On their Blockchain platform Corda, R3 creates an environment where their members can collaborate to develop solutions.

İşbank Deputy CEO Yalçın Sezen said: “Blockchain is a field that we see a future in and have been closely following for a long time since it offers extensive security, speed and operational efficiency in financial transactions. Even though Blockchain technology is not at its ripest yet, I believe in the near future, this technology will be applied to many different use cases in the banking sector.

As İşbank, we devised numerous use cases within our bank and affiliates. During these trials, we realized the critical importance of working collectively with different partners. Therefore, we joined “Blockchain Turkey Platform” to contribute to the growth of a Blockchain ecosystem in Turkey. While actively participating the studies under banking and finance conducted by Blockchain Turkey, we also continued to explore similar examples from all around the globe. In this sense, we are excited to be a part of R3, a leading global Blockchain ecosystem. As a member of this platform, we aim to lead the way amongst Turkish Banks in the Blockchain field by creating Blockchain based solutions after closely examining over 100 existing use cases and exchanging ideas with over 300 members that are actively participation on platform.”