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Commerzbank Integrates SAP and R3’s Corda for Blockchain-Based Financial Services

Commerzbank has announced the successful completion of an end-to-end integration of SAP’s S/4HANA business suite and R3’s Corda blockchain platform. 

The integration between SAP and R3’s Corda is targeted toward corporate customers of the trade and supply chain financial services provided by Commerzbank. It seems likely that the integration between SAP and R3’s Corda could boost the adoption of blockchain technology by major corporate users by leveraging the popularity of SAP-based enterprise resource planning (ERP) solutions in that user base.

“This solution has the potential for corporations to significantly enhance and leverage their access to future business models based on distributed ledger technology, via their own corporate SAP system,” according to the announcement. “By deploying Corda’s secure blockchain technology to SAP Cloud Platform, the existing application programming interfaces (APIs) are utilized to access business networks and systems across all industries.”

Commerzbank, headquartered in Germany, is a major international bank with “more than 18 million private and small business customers, as well as more than 60,000 corporate clients, multinationals, financial service providers and institutional clients.” 

SAP, also headquartered in Germany, is a leading provider of enterprise software and ERP systems, with over 335,000 enterprise customers in over 180 countries. SAP S/4HANA is a business suite built on SAP's proprietary operational database system and in-memory computing platform SAP HANA.

“The successful connection test between Corda and SAP, as an important [enterprise technology provider], is a significant milestone in our journey to develop and implement digital product solutions,” said Nikolaus Giesbert, divisional board member of fixed income, currencies and commodities and trade finance and cash management at Commerzbank, according to the announcement. “In Trade Finance, we see significant potential and the need to support digital data flows along the supply chain of our corporations. This is only possible by connecting ERP systems to new … [DLT] networks and platforms. We will share the results of this technical test in our ongoing projects with R3 and aim to use the SAP connection with Corda in future pilot transactions.” 

R3 is an enterprise software firm that works with a network of over 200 banks, “financial institutions, regulators, trade associations, professional services firms and technology companies to develop on Corda,” its blockchain platform designed specifically for businesses. Commerzbank is a member of R3’s global network and an active participant in a number of R3 initiatives on use cases in areas such as trade finance. SAP is actively collaborating with both R3 and R3’s members.

“Trade finance is a key area of focus for R3 as we work with our partners to develop a vibrant ecosystem of applications on Corda,” said David E. Rutter, R3’s CEO, per the announcement. “Integrating the platform with SAP’s business processes is a further milestone in enabling widespread adoption of Corda by businesses around the globe.”

ETH Price Analysis: Why Gains Are Being Lost

Distributed Summary:

  • ETH-USD failed to break overhead resistance in the $160 range. This coincided with a failed retest of the supply and demand channel as the market saw a strongly overbought condition.
  • We are currently stuck between support and resistance, but it seems very likely that we will see a retest of the low $90s before any potential bullish pressure hits the markets. If, for whatever reason, we begin to rally, we need to see a decisive, strong close above the $160 level before any macro-trend-changing behavior is seen.

Bitfury Launches Music Project on Exonum and Bitcoin

Bitfury, a developer of blockchain-based hardware and software products, has announced a new initiative: Bitfury Surround. The project aims to build an open-source platform that streamlines operations in the music entertainment industry.

ING Partners With R3 to Adopt Corda Enterprise Blockchain

Distributed Summary:

  • Over five-year partnership, ING plans to leverage applications built on R3’s enterprise blockchain platform
  • Bank receives “unlimited number” of licenses for Corda Enterprise
  • Could mark a significant financial use case for distributed ledger technology

Bitcoin Now Available Through Coinstar Kiosks Nationwide

Distributed Summary:

  • Coinstar and Coinme team up to offer bitcoin-for-cash transactions at grocery stores around the country
  • Twitter users have shared photos of the on-screen process