JP Morgan and Microsoft join forces for enterprise blockchain push
Developed by JP Morgan, Quorum – an enterprise-variant of the Ethereum blockchain – will be the first distributed ledger platform available through Microsoft Azure Blockchain Service.
This will enable customers of both firms to build and scale blockchain networks in the cloud. The partners say their customers can take advantage of lower costs, simplified deployment and built-in governance to focus on application development.
Umar Farooq, global head of blockchain, JP Morgan, says Azure will bring unique strengths to enterprise clients using Quorum.
He adds: “We are incredibly proud of the success Quorum has had over the last four years, as organisations around the world use Quorum to solve complex business and societal problems via blockchain solutions.”
Peggy Johnson, executive vice president of business development at Microsoft, states the partnership will accelerate innovation for customers.
“As digital transformation extends beyond the walls of an individual organisation, companies need solutions that enable them to securely share their business processes and data in order to drive imaginative new business models and reinvent industries,” she says.
JP Morgan and Microsoft will continue to work together to address various blockchain application needs. Microsoft will provide engineering, consulting and go-to-market support for Quorum.