R3 a blockchain Enterprise and software firm has made a move to expand its office space in London Wall office. This has been done to nearly double the office space in a bid to accommodate its new employees for the engineering section of its team. Mondo Visione reports that the business intelligence firm R3 has built an aggressive hiring plan to try to increase its global headcount of employees from the existing 215 to about 300 by the end of the year 2019. The expansion is in line with the long term development strategy of the blockchain and software firm and will serve to further widen its global footprint.
R3 and intends to employ software engineers for almost 85 positions distributed all around the globe. Of the positions that the firm is hiring for, 85 of them would be for commercial and client-facing professionals, but their primary focus and the aim of the aggressive hiring plan is to bring onboard their team more engineers. Of the 85 new hires, 40 of the recruits will be positioned in the London Wall office where space has been doubled. It is worth noting that the expansion of R3’s team in London is a strategic move towards the growth timeline. By 2020, the blockchain and software Enterprise will be adding to its constitution a new engineering center at a new undisclosed location.
As per the Mondo report, the company is working around the clock on pinpointing the best and critical location in terms of suitability and may disclose the same in the few months to follow. Earlier on this year, R3 made an announcement of a new strategy for the growth and development of the company. The company started looking out to exploring joint Ventures potential acquisitions and seeking for seed-stage investments. The company has also established its corporate development function to facilitate and support the building of its blockchain platform coder and find out the most suitable joint Ventures.
It should be noted that the Enterprise blockchain adoption is still in its infancy stage. As of current, it is being deployed by major Enterprises across multiple sectors. R3’s blockchain Enterprise solution is rapidly becoming an integral part of the Enterprise use cases. With the announced expansion of the engineering team, Corda expects quick and accelerated growth over the next few years in. The recent past the blockchain platform Corda has provided its technical support to SIX digital exchange and HQLAx, which is also blockchain security and lending platform.
David E. Rutter, the CEO of R3, stated categorically that London is a fast-growing technological hub that largely presents great opportunities for organizations like R3 post-Brexit. As the United Kingdom is speculated to depart from the European Union, London’s economic stance is predicted to strengthen. Even though the uncertainties around Brexit continue to hover around every Economic and political hallway in the country, R3 is confident, that London is well placed and capable of being the new driver of aggressive growth after the departure.
In June of 2019, R3 revealed and announced a partnership with Brazilian banks Bradesco, ITAU, and B3. This partnership was made to develop a blockchain-backed platform. Collaborating up with the bank’s R3 has the primary focus of building a foreign trade and insurance platform that will be enabled by blockchain technology. The news was shared by senior executives of the company at the R3 Consortium meeting that saw attendees from large banks and technology companies. It was also announced at the meeting that the Brazilian Stock Exchange was also using the Corda blockchain platform to facilitate digital identification in a highly secure way