The C-Rep election will be executed over several strategic phases. Any private network built on loopchain can propose an entity to participate in consensus as a C-Rep regardless of business type, network activity, etc. Additionally, a heterogeneous public blockchain could be the community and connect to the ICON Nexus as a C-rep.
Upon selecting a node to act as a C-Rep, ICONists will vote to decide whether or not such a candidate can participate in consensus. Currently, communities such as financial institutions and insurance companies partnered with ICON would be good candidates.
With the C-rep bridge of the heterogeneous blockchain, ICONists can use any services regardless of which blockchain the DApp runs on.