launching Corda on @solana

Larchmont, NY
Joined January 2012
“Never, ever, think about something else when you should be thinking about the power of incentives.” — Charlie Munger
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Todd McDonald retweeted
“The entry door is quite large and the exit door is very small.” Todd McDonald (@Mcdtv), co-founder of @inside_r3, on what holds tokenized real-world assets back. A small exit door can mean a liquidity discount, and it makes these assets hard to use as collateral across ecosystems.
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Higher. With @Cordaxyz On @solana
We asked @inside_r3 co-founder Todd McDonald (@Mcdtv) why the team chose @solana to build its enterprise-tailored protocol. "One is the technology. I personally love their approach to a single mainnet and scaling through a single mainnet, one pool of liquidity. Two is their strategy. The Solana Foundation’s like, internet capital markets, that’s our North Star, we are going to be focused on helping existing capital markets players understand and launch and be successful on Solana. Three is the culture of the ecosystem - that's both those that are building on it, but also the Solana Foundation. They're viewing this as a long term business they wanna grow."
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Really fun conversation w @_TalkingTokens thanks for having me on
Today's episode with @Mcdtv, Co-Founder of @inside_r3, dives into: - How enterprises like Bank of America and Wells Fargo are leveraging blockchain - Why R3 chose to build on @Solana - Why fixed income and alternative assets could be tokenization’s next big market TIMESTAMPS: 00:00 Intro 00:32 How Institutional Blockchain Has Changed 02:55 Why All Markets Will Move Onchain 04:08 Why Todd McDonald Started R3 06:25 Buying Bitcoin in the Early Days 07:37 How R3 Got Major Banks Onboard 09:56 What Crypto Gets Wrong About Banks 12:10 How Banks Are Using Blockchain Today 13:38 Why R3 Changed Its Strategy 14:00 Moving From Private to Open Networks 14:24 Why R3 Chose Solana 16:29 Bringing Corda to Solana 16:52 What Banks Care About in a Blockchain 18:18 What R3 Got Wrong 19:00 Lessons From R3's Early Network Strategy 20:05 Why Open Networks Win 22:05 What's Next for Banks Onchain 23:07 The Opportunity Beyond Tokenized Dollars 24:05 The Trillions in Tokenization 26:17 What Tokenization Actually Means 27:26 Bring the Assets to the Money 27:57 The State of Tokenization 28:57 What Has Changed in Five Years 30:12 What Banks Want From Tokenization 31:04 What's Next for Tokenization 31:59 Todd's Advice for Builders Watch below or on X:
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Todd McDonald retweeted
We hit gold when we hired @kostascrypto back in the day. And I still think his CordaCon appearance is the best introduction to ZKPs out there, even after all this time: youtube.com/watch?v=1tfVaDHt…
History of crypto agility. It started 10y ago. With all the recent AI and quantum computing fears, everyone suddenly seems to be talking about cryptographic agility. If you ever want to explore the history of cryptographic agility in decentralized ledgers and blockchains, arrange an interview with my team. We have some fascinating stories to share. Back in 2016–2017, my team pioneered cryptographic agility as a fundamental design principle for blockchains, starting with R3 Corda. We supported ECDSA (both secp256k1 and secp256r1), EdDSA, RSA, and SPHINCS, marking the first-ever support for a stateless post-quantum signature scheme in the history of blockchains and decentralized ledgers. This wasn’t just about supporting different algorithms. We were already preparing blockchain infrastructure for a post-quantum future. And there’s a great story behind why some of the world’s largest banks and financial institutions were asking us for these capabilities a decade ago. When I moved from London (R3 Corda) to Silicon Valley (Facebook’s Libra), I brought the same philosophy with me. I took cryptographic agility further, including the important architectural distinction between account addresses and authentication keys. This separation, which makes key rotation and cryptographic upgrades much easier, subsequently became a design pattern adopted by several other blockchains. There’s also an interesting story behind why we considered it essential. We carried these principles forward into Sui, which was designed with cryptographic agility from day one. That foundation enabled us to introduce native social authentication through zkLogin, support multiple signature schemes, accommodate key aliases and post-quantum cryptography, and offer native multisig without additional gas overhead. Sui’s modular design from scratch allows magical things to happen. Today, the broader blockchain community is finally recognizing how critical cryptographic agility will be in the age of AI and quantum. And while I’m genuinely happy to see this happening, I can’t help but smile. Imagine watching an architectural principle you led almost 10 years ago suddenly become one of the industry’s hottest topics. Sometimes the most important innovations aren’t the ones that make headlines when they’re introduced. They’re the ones that quietly prepare the infrastructure for a future nobody else is thinking about yet. Hire good cryptographers, the top of the world if you can, and you will be 10y ahead waving 👋 to the future. Raised by Satoshi 😉
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Todd McDonald retweeted
We spent a decade building private networks with the world’s largest banks. That’s exactly why we know where capital markets are heading: open, public rails.
The customers are already onchain. Corda is being built on @solana to bring institutional yield to eligible investors, alongside the DeFi markets they already use. @Mcdtv on the case for public rails on @thinkingcrypto.
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Was great to chat w Tony about the R3 journey and what’s next w @Cordaxyz
From Private to Public Blockchains! R3 Corda & Solana Team Up! WATCH ▶️ youtu.be/YOfMC07W9Xw Todd McDonald, Co-Founder of R3, joined me to discuss the future of blockchain adoption, the evolving roles of public and private blockchains, R3 Corda’s partnership with Solana, and the outlook for asset tokenization and on-chain financial markets. #solana #blockchain #tokenization
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Todd McDonald retweeted
Onchain capital is flexible until it has to leave DeFi to find diversified yield. That’s the detour. Corda is building a more direct route: blue chip RWA exposure designed for @Solana-native access, liquidity, and composability.
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Todd McDonald retweeted
As we approach the launch of Corda Protocol I've spent a lot of time with the team on why a lot of tokenised RWAs seem to get issued and then just.... sit there... what are the commonalities amongst those that seem to take off versus those that don't? I know it _looks_ pretty simple but the table below was really useful in clarifying my own thinking about all the product features an RWA needs to have (a tokenised RWA _is_ a product)
For a decade, R3 has worked with banks, regulators and market infrastructure to bring real assets onto ledgers. Tokenizing them was step one. Knowing which ones are worth holding onchain is the next. @Cordaxyz sets out five tests for a tokenized blue chip.
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Wrapped up two weeks at KBW and Token and everywhere the vibe was onchain markets. Even heard a few times "RWAs saved our year." Was great to share dets on what's coming on @Cordaxyz I had a few replies of "this sounds too good to be true." More soon... unrelated, in replies are all the cool street signs I saw while wandering around Seoul, its a great city!
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Is it a half man half squid? Or is a happy squid eating a man wearing dockers?
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Todd McDonald retweeted
Live from Solana Summit by @SuperteamSG 🎙️ @Mcdtv onstage with @vinhonchain, @DarienPoh, and Andrea of @sanctumso.
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Todd McDonald retweeted
🎙️ Live from @kbwofficial: @Mcdtv chatting policy, infrastructure, and law with @imissblitz, @Sunayna, and Yesha Yadav. "Over the next 2-3 years, there's plenty of open space for folks like @inside_r3 to innovate, to shift, to build new market structures. The time is now."
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No excuses
🇰🇷 CONNECT: Crypto has enough regulatory clarity to start building, according to @inside_r3 co-founder @Mcdtv. “We're never going to get perfect clarity,” he said, arguing that the next few years offer an opportunity to build new products, infrastructure and tokenized capital markets
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Very fun chat @jacqmelinek thanks for hosting
Welcome to the Thunder Dome aka @_TalkingTokens recording station at KBW Sitting down with - @seyong of @fomo - @YuvalRooz of @digitalasset / @CantonNetwork - @wagmiAlexander of @DromosLabs / @aeroxyz - @raagulanpathy of @KASTxyz - @RaafiHossain of @fasset - @lepsoe of @ETHGasOfficial - @Mcdtv of @inside_r3 All in a day’s work. Let’s get it!
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Todd McDonald retweeted
Issuance was the warm-up. The next RWA cycle is about what tokenized assets can actually do. Move. Price. Convert. Act as collateral. Stay useful inside DeFi. That is where Corda is focused: RWAs by blue chip issuers built for onchain capital, not just onchain announcements.
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Todd McDonald retweeted
If you're in Seoul this week, don't miss the opportunity to meet with @Mcdtv... one of the sharpest thinkers in the RWA space right now.
This week, @Mcdtv will be taking over Seoul. Catch him onstage at: → CONNECT by @Cointelegraph on Tuesday, Sep 29, 2:30 PM KST for "The New Financial Establishment: Who Owns the Rails When TradFi and Crypto Merge?" → @kbwofficial on Thursday, Oct 1, 2:20 PM KST for "Deja Vu: It's 'Blockchain Not Bitcoin' Season Again"
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Todd McDonald retweeted
TradFi and crypto are moving closer together. Who will own the financial rails? At CONNECT Seoul, leaders will discuss how the financial landscape is changing as traditional finance moves onchain. • @dotcuriouscat, General Partner, @PortalVentures • Justin Kugel, EVP of Growth, @worldlibertyfi • @Mcdtv, Co-Founder, @inside_r3 Sept. 29 | Seoul 🇰🇷 Secure your spot: luma.com/xxwrhox8
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