Enterprise software firm R3 has launched a confidential computing platform called ‘Conclave’.

Conclave is designed to secure sensitive business data transfers among entities through the process of encryption.

R3 says Conclave enables enterprises to securely aggregate data sets to answer mutual business problems and transfer them across customers and businesses without any leakages. It also ensures controlled and secured ownership for multi-data analytics.

R3 added that this new platform can ensure trust in its services and enables better detection of fraud and resolve critical business challenges involve in sharing the data.

Conclave is powered by IntelÒ Software Guard Extensions (IntelÒ SGX) with intuitive API, which allows users to write application and codes in any operating system and language of their choice.

R3 CEO David Rutter said: “Proprietary data—if shared and pooled effectively—holds the key to greater analytics, insight, and commercial opportunity. Yet, many firms resist sending it because of an inherent mistrust in how it will be used.

“R3’s Conclave is uniquely designed to solve this problem of trust through the promise of technologies such as confidential computing and IntelÒ SGX. Conclave offers best-in-class technology, backed by the rich experience of our developers and business team, to empower customers to bring about a new era of privacy in data sharing, processing and analysis.”

R3 was started as a blockchain technology company in 2014. It has launched its first open-source blockchain platform called Corda in 2016.

Corda was later transformed into Corda Enterprise in 2018, which offers services in network infrastructure for all kinds of industries.

R3 says Conclave is a stand-alone platform for now and is compatible with its flagship blockchain platform ‘Corda Enterprise’, which are to be fully integrated soon.