diff --git a/build.gradle b/build.gradle
index 0029c953..0ee43a93 100644
--- a/build.gradle
+++ b/build.gradle
@@ -19,23 +19,24 @@ allprojects {
 
     // Configure Corda runtime gradle plugin
     cordaRuntimeGradlePlugin {
+        runtimeVersion = cordaRuntimeVersion
         notaryVersion = cordaNotaryPluginsVersion
         notaryCpiName = "NotaryServer"
         corDappCpiName = "MyCorDapp"
-        cpiUploadTimeout = "30000"
-        vnodeRegistrationTimeout = "60000"
-        cordaProcessorTimeout = "300000"
-        workflowsModuleName = "workflows"
+        cpiUploadTimeout = cpiUploadDefault
+        vnodeRegistrationTimeout = vnodeRegistrationTimeoutDefault
+        cordaProcessorTimeout = processorTimeout
+        workflowsModuleName = workflowsModule
         cordaClusterURL = "https://localhost:8888"
         cordaRestUser = "admin"
         cordaRestPasswd ="admin"
         composeFilePath = "config/combined-worker-compose.yaml"
         networkConfigFile = "config/static-network-config.json"
         r3RootCertFile = "config/r3-ca-key.pem"
-        skipTestsDuringBuildCpis = "false"
-        cordaRuntimePluginWorkspaceDir = "workspace"
-        cordaBinDir = "${System.getProperty("user.home")}/.corda/corda5"
-        cordaCliBinDir = "${System.getProperty("user.home")}/.corda/cli"
+        skipTestsDuringBuildCpis = skipContractTestsDuringBuildCpis
+        cordaRuntimePluginWorkspaceDir = workspaceDirectory
+        cordaBinDir = "${System.getProperty("user.home")}/$cordaBinariesDirectory"
+        cordaCliBinDir = "${System.getProperty("user.home")}/$cordaCliBinariesDirectory"
 
         // Only need to supply these if you want to use an unpublished version
         artifactoryUsername = findProperty('cordaArtifactoryUsername') ?: System.getenv('CORDA_ARTIFACTORY_USERNAME')
@@ -48,9 +49,9 @@ allprojects {
             allWarningsAsErrors = false
 
             // Specify the version of Kotlin that we are that we will be developing.
-            languageVersion = '1.7'
+            languageVersion = '1.8'
             // Specify the Kotlin libraries that code is compatible with
-            apiVersion = '1.7'
+            apiVersion = '1.8'
             // Note that we Need to use a version of Kotlin that will be compatible with the Corda API.
             // Currently that is developed in Kotlin 1.7 so picking the same version ensures compatibility with that.
 
@@ -94,7 +95,6 @@ allprojects {
     tasks.withType(Test).configureEach {
         useJUnitPlatform()
     }
-
 }
 
 publishing {
diff --git a/config/combined-worker-compose.yaml b/config/combined-worker-compose.yaml
index e21c6b27..a6e9cbc0 100644
--- a/config/combined-worker-compose.yaml
+++ b/config/combined-worker-compose.yaml
@@ -32,7 +32,7 @@ services:
       KAFKA_AUTO_CREATE_TOPICS_ENABLE: "true"
 
   kafka-create-topics:
-    image: corda-os-docker.software.r3.com/corda-os-plugins:5.2.0.0-RC02
+    image: corda-os-docker.software.r3.com/corda-os-plugins:${CORDA_RUNTIME_VERSION}
     depends_on:
       - kafka
     command: [
@@ -43,7 +43,7 @@ services:
     ]
 
   corda:
-    image: corda-os-docker.software.r3.com/corda-os-combined-worker-kafka:5.2.0.0-RC02
+    image: corda-os-docker.software.r3.com/corda-os-combined-worker-kafka:${CORDA_RUNTIME_VERSION}
     depends_on:
       - postgresql
       - kafka
diff --git a/gradle.properties b/gradle.properties
index 3259bf9a..387815c9 100644
--- a/gradle.properties
+++ b/gradle.properties
@@ -2,18 +2,18 @@ kotlin.code.style=official
 
 # Specify the version of the Corda-API to use.
 # This needs to match the version supported by the Corda Cluster the CorDapp will run on.
-cordaApiVersion=5.2.0.49-RC02
+cordaApiVersion=5.3.0.8-beta-1711609687915
+
+# Specify the version of the Corda runtime to use.
+cordaRuntimeVersion=5.3.0.0-beta-1711617024604
 
 # Specify the version of the notary plugins to use.
 # Currently packaged as part of corda-runtime-os, so should be set to a corda-runtime-os version.
-cordaNotaryPluginsVersion=5.2.0.0-RC02
+cordaNotaryPluginsVersion=5.3.0.0-beta-1711617024604
 
 # Specify the version of the cordapp-cpb and cordapp-cpk plugins
 cordaPluginsVersion=7.0.4
 
-# Specify the version of the Corda runtime Gradle plugin to use
-cordaGradlePluginVersion=5.2.0.0-RC02
-
 # Specify the name of the workflows module
 # This will be the name of the generated cpk and cpb files
 workflowsModule=workflows
@@ -22,6 +22,9 @@ workflowsModule=workflows
 # This will be the name of the generated cpk and cpb files
 contractsModule=contracts
 
+# Specify the name of the generated folder where files can be created by the Corda Runtime Gradle Plugin
+workspaceDirectory=workspace
+
 # Specify the location of where Corda 5 binaries can be downloaded
 # Relative path from user.home
 cordaBinariesDirectory = .corda/corda5
@@ -39,19 +42,19 @@ platformVersion = 999
 
 # Version of Kotlin to use.
 # We recommend using a version close to that used by Corda-API.
-kotlinVersion = 1.7.21
+kotlinVersion = 1.8.21
 
 # Do not use default dependencies.
 kotlin.stdlib.default.dependency=false
 
 # Test Tooling Dependency Versions
-junitVersion = 5.10.0
-mockitoKotlinVersion=4.0.0
-mockitoVersion=4.6.1
+junitVersion = 5.10.2
+mockitoKotlinVersion=5.2.1
+mockitoVersion=5.10.0
 hamcrestVersion=2.2
-assertjVersion = 3.24.1
+assertjVersion = 3.25.3
 contractTestingVersion=1.0.0-beta-+
-jacksonVersion=2.15.2
+jacksonVersion=2.17.0
 slf4jVersion=1.7.36
 
 # Specify the maximum amount of time allowed for the CPI upload
@@ -65,12 +68,12 @@ processorTimeout=-1
 
 # Specify the maximum amount of time allowed to check all vNodes are registered
 # Value is in milliseconds
-vnodeRegistrationTimeoutDefault=30000
+vnodeRegistrationTimeoutDefault=60000
 
 # Specify if you want to run the contracts and workflows tests as part of the corda-runtime-plugin-cordapp > buildCpis task
 # False by default, will execute the tests every time you stand the template up - gives extra protection
 # Set to true to skip the tests, making the launching process quicker. You will be responsible for running workflow tests yourself
-skipTestsDuringBuildCpis=false
+skipContractTestsDuringBuildCpis=false
 
 # R3 internal repository
 # Use this version when pointing to artefacts in artifactory that have not been published to S3
diff --git a/gradle/wrapper/gradle-wrapper.jar b/gradle/wrapper/gradle-wrapper.jar
index 033e24c4..7f93135c 100644
Binary files a/gradle/wrapper/gradle-wrapper.jar and b/gradle/wrapper/gradle-wrapper.jar differ
diff --git a/gradle/wrapper/gradle-wrapper.properties b/gradle/wrapper/gradle-wrapper.properties
index 9f4197d5..3fa8f862 100644
--- a/gradle/wrapper/gradle-wrapper.properties
+++ b/gradle/wrapper/gradle-wrapper.properties
@@ -1,6 +1,6 @@
 distributionBase=GRADLE_USER_HOME
 distributionPath=wrapper/dists
-distributionUrl=https\://services.gradle.org/distributions/gradle-8.2.1-bin.zip
+distributionUrl=https\://services.gradle.org/distributions/gradle-8.4-bin.zip
 networkTimeout=10000
 validateDistributionUrl=true
 zipStoreBase=GRADLE_USER_HOME
diff --git a/gradlew b/gradlew
index fcb6fca1..1aa94a42 100755
--- a/gradlew
+++ b/gradlew
@@ -83,7 +83,8 @@ done
 # This is normally unused
 # shellcheck disable=SC2034
 APP_BASE_NAME=${0##*/}
-APP_HOME=$( cd "${APP_HOME:-./}" && pwd -P ) || exit
+# Discard cd standard output in case $CDPATH is set (https://github.com/gradle/gradle/issues/25036)
+APP_HOME=$( cd "${APP_HOME:-./}" > /dev/null && pwd -P ) || exit
 
 # Use the maximum available, or set MAX_FD != -1 to use that value.
 MAX_FD=maximum
@@ -144,7 +145,7 @@ if ! "$cygwin" && ! "$darwin" && ! "$nonstop" ; then
     case $MAX_FD in #(
       max*)
         # In POSIX sh, ulimit -H is undefined. That's why the result is checked to see if it worked.
-        # shellcheck disable=SC3045
+        # shellcheck disable=SC2039,SC3045
         MAX_FD=$( ulimit -H -n ) ||
             warn "Could not query maximum file descriptor limit"
     esac
@@ -152,7 +153,7 @@ if ! "$cygwin" && ! "$darwin" && ! "$nonstop" ; then
       '' | soft) :;; #(
       *)
         # In POSIX sh, ulimit -n is undefined. That's why the result is checked to see if it worked.
-        # shellcheck disable=SC3045
+        # shellcheck disable=SC2039,SC3045
         ulimit -n "$MAX_FD" ||
             warn "Could not set maximum file descriptor limit to $MAX_FD"
     esac
@@ -201,11 +202,11 @@ fi
 # Add default JVM options here. You can also use JAVA_OPTS and GRADLE_OPTS to pass JVM options to this script.
 DEFAULT_JVM_OPTS='"-Xmx64m" "-Xms64m"'
 
-# Collect all arguments for the java command;
-#   * $DEFAULT_JVM_OPTS, $JAVA_OPTS, and $GRADLE_OPTS can contain fragments of
-#     shell script including quotes and variable substitutions, so put them in
-#     double quotes to make sure that they get re-expanded; and
-#   * put everything else in single quotes, so that it's not re-expanded.
+# Collect all arguments for the java command:
+#   * DEFAULT_JVM_OPTS, JAVA_OPTS, JAVA_OPTS, and optsEnvironmentVar are not allowed to contain shell fragments,
+#     and any embedded shellness will be escaped.
+#   * For example: A user cannot expect ${Hostname} to be expanded, as it is an environment variable and will be
+#     treated as '${Hostname}' itself on the command line.
 
 set -- \
         "-Dorg.gradle.appname=$APP_BASE_NAME" \
diff --git a/settings.gradle b/settings.gradle
index e2445064..9489194f 100644
--- a/settings.gradle
+++ b/settings.gradle
@@ -25,7 +25,7 @@ pluginManagement {
         id 'org.jetbrains.kotlin.jvm' version kotlinVersion
         id 'org.jetbrains.kotlin.plugin.jpa' version kotlinVersion
         id 'org.jetbrains.kotlin.plugin.allopen' version kotlinVersion
-        id 'net.corda.gradle.plugin' version cordaGradlePluginVersion
+        id 'net.corda.gradle.plugin' version cordaRuntimeVersion
     }
 }