R3 Could Be Ready to Set Up a Blockchain IPO

R3 is considering an IPO, and this is according to an announcement which was reported on Bloomberg on 13th July. R3 deals with blockchain software and their enterprise offer leadership to a consortium of more than two hundred members. Speaking about the speculations, the CEO of the company, David Rutter stated that after the massive success of Corda, they were not shocked that IPO speculations had started, however, he admitted that their initial goal was to offer blockchain solutions to as many businesses as possible and taking this direction would not help that purpose. He added that any business decision the company makes would have to be guided by that goal. The company is weighing their options because of the massive success that blockchain technology has been over the past couple of years. In a survey that was carried out last year by Deloitte, 30 percent of finance executives stated that they were planning to invest in blockchain in the course of the coming year while 33 percent said they were prepared to implement the technology. Only this week R3 released their version of an open source distributed ledger platform, for businesses. The application is a firewall which helps businesses run it within their data centers while at the same time communicating with Corda’s nodes. The new speculation comes months after some former R3 employees allegedly told Fortune that the company’s international revenue targets were off and that the company was looking for ways to raise additional money. However, these claims have no basis, and as the consortiums managing director confided, the company was not in any danger of running out of funds, which means they were not planning to raise additional money. Blockchain technology has become very popular in all sectors of the economy because of the endless opportunities that it presents to its end users. This is the reason why both companies and individuals are doing their best to invest in or in another way, become part of the technology. Whether or not R3 will conduct an initial public offering remains a puzzle, but the truth is that the technology is here to stay.