R3 offers no efficiencies over incumbent transfer systems. SWIFT/ACH/etc are far more efficient than R3. R3 seems to be figuring that out, and is rapidly pivoting from their original goals (including blockchain)
It isn't built yet, but ACH is pretty bad, so I can't imagine R3; regardless of what tech they go with, being worse. It started in 74 so its 4 decades old. I'm not saying you are wrong but I would like a bit more color. I am not excited about R3, bug given the backers (all major banks & payment inst) I assumed it was moving forward & poised to take ach in the next 3-5 years
