JP Morgan And Microsoft Come Together To Strengthen Quorum

JP Morgan and Microsoft Corp have signed a memorandum to work together towards accelerating the enterprise adoption of blockchain technology. With this partnership, JP Morgan becomes the first DLT based platform to be available on Azure Blockchain Service, which would enable the customers of both the firms to build blockchain networks and scale them on the cloud-based system.

Quorum platform offers an enterprise-ready version of ethereum for businesses that need a secure, reliable, and open-sourced blockchain solution.

Umar Farooq the global head of blockchain at JP Morgan said,

“We are incredibly proud of the success Quorum has had over the last four years, as organizations around the world use Quorum to solve complex business and societal problems via blockchain solutions. We are delighted to partner alongside Microsoft as we continue to strengthen Quorum and expand capabilities and services on the platform. Azure will bring unique strengths to enterprise clients using Quorum.”

With the partnership in place, Quorum can now focus on becoming a fully integrated Ethereum based blockchain which would support a suite of applications on its network. Now enterprises can focus solely on application building rather than building infrastructure first, which is not just costly and complex but a consumes a lot of time as well.

The partnership would strengthen the transformative businesses where customers on the network can grow their network while benefiting from lower costs, simplified deployment and built-in governance enabled through Azure Blockchain Service.

Peggy Johnson, executive vice president of Business Development, Microsoft said,

“As digital transformation extends beyond the walls of an individual organization, 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. We’re thrilled to partner with a leader like J.P. Morgan to establish a foundation on which enterprises and partners can rapidly build and scale blockchain networks. Together, we’re taking a truly transformative technology like Quorum and making it available through the Azure platform to accelerate innovation for our customers”

In the future, both JP Morgan and Microsoft will continue their efforts to lower the burden on independent software vendor and developer needs for building and deploying blockchain applications on Quorum in the cloud.