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While Corda originates from the financial sector, its approach to distributed ledger is applicable across a wide range of enterprise applications. Let us briefly consider some examples.
- Healthcare: The healthcare industry is similar in that sensitive information is involved and considerable regulation exists. Corda’s need-to-know approach and codification of process flows is appropriate for designing regulation-compliant systems that inform interested parties with reliable information about important events while respecting patient confidentiality.
- Supply Chain Management: Corda is well-suited to creating industry-wide systems that address specialized concerns. For example, in aerospace and other industries there are requirements for detailed records of sub-component provenance and maintenance history. Resource industries have reporting requirements for such topics as production royalty settlements.
- Government: Government is a candidate participant in innumerable Corda networks where industry requirements include notifying a regulator or a registry. Corda addresses this concern well since notifying a regulator was a primary concern of the regulated financial services industry. Analogues are found in land titles, vehicle registries, licensing and, indeed, regulation of all kinds. Each use-case has strict requirements in terms of confidentiality, public disclosure and privileged access. Corda is a natural method of codifying process flows that ensure regulatory compliance and accurate records.
For more industry examples and a closer look at projects built on Corda, explore R3’s customers.