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@ -8,42 +8,40 @@ Corda Network consists of Corda nodes operated by network participants, in which
Corda Network enables interoperability – the exchange of data or assets via a secure, efficient internet layer – in a way that isn’t possible with competing permissioned distributed ledger technologies / legacy systems.
The network is due to go live in November, after which it will be governed by R3. An independent, not for profit Foundation is currently being set-up which is intended to govern the Network from mid 2019, after a transition period.
The network is due to go live in December, after which it will be governed by R3. An independent, not for profit Foundation is currently being set-up which is intended to govern the Network from mid 2019, after a transition period.
The Network will comprise of many sub-groups or ‘business networks’ of participants running particular CorDapps, and
such groups will often have a co-ordinating party (the ‘Business Network Operator’) who manages the distribution of the
app and rules for its use.
The Network will comprise of many sub-groups or ‘business networks’ of participants running particular CorDapps, and such groups will often have a co-ordinating party (the ‘Business Network Operator’) who manages the distribution of the app and rules (including around membership) for its use.
Corda Network will support the operation of business networks by industry-specific operators within the Network. There
will be a clear separation between areas of governance for the Network and for individual business networks. For example,
rules around membership of business networks will be controlled by its Business Network Operators.
Corda Network will support the operation of business networks by industry-specific operators within the Network. There will be a clear separation between areas of governance for the Network and for individual business networks. For example, rules around membership of business networks will be controlled by its Business Network Operators.
Governance Structure
--------------------
We at R3 believe it is critically important that we should not control Corda Network going forwards, and that it should
be governed transparently to its members, with a fair and representative structure that can deliver a stable operating
environment for its members for the long term.
We at R3 believe it is critically important that we should not control Corda Network going forwards, and that it should be governed transparently to its members, with a fair and representative structure that can deliver a stable operating environment for its members for the long term.
After legal advice we have decided to set up a Corda Network Foundation, a not-for-profit legal entity residing in the
Netherlands, known as a Stichting. This is a legal entity suited for governance activities, able to act commercially,
with limited liability but no shareholders, capital or dividends. It is defined in a set of Articles of Association and
By-laws.
After legal advice we have decided to set up a Corda Network Foundation, a not-for-profit legal entity residing in the Netherlands, otherwise known as a Stichting. This is a legal entity suited for governance activities, able to act commercially, with limited liability but no shareholders, capital or dividends. It is defined in a set of Articles of Association and By-laws.
A Foundation will enable Network members to be involved with, and also understand, how decisions are made (including around issues of identity and permission), building trust and engagement from a wide range of stakeholders. We believe this will bring about the best decisions and outcomes for the Network’s long-term success.
Its governance bodies shall include
* A **Governing Board** (‘the Board’) of 11 representatives (‘Directors’).
* A **Technical Advisory** **Committee** (‘the TAC’), comprised of representatives of Member organisations.
* A **Governance Advisory Committee**, comprised of representatives of Member organisations.
* A **Network Operator** (‘the Operator’), charging the Foundation reasonable costs for providing network and
administration services, paid by the Foundation through membership funds, and accountable directly to the Board.
* A **Technical Advisory** **Committee** (‘the TAC’), comprised of representatives of Participant organisations.
* A **Governance Advisory Committee**, comprised of representatives of Participant organisations.
* A **Network Operator** (‘the Operator’), charging the Foundation reasonable costs for providing network and administration services, paid by the Foundation through membership funds, and accountable directly to the Board.
Operating on behalf of:
* **Participants** (‘Participants’), which is open to any organisation participating in the Corda Network, independent
* **Participants** (‘Participants’), open to any legal entity participating in the Corda Network, independent
of R3 membership and direct Network participation.
For more information about the intended governance of the network, please refer to the Governance Guidelines document
[here](https://groups.io/g/corda-network/message/96).
For more information about the intended governance of the network, please refer to the Governance Guidelines document [here](https://groups.io/g/corda-network/message/96).
How to join
-----------------------
TBC