Two of the world’s largest corporations have joined forces on blockchain.
In a statement released Thursday, J.P. Morgan and Microsoft announced that they are forming a strategic partnership to “accelerate the adoption of enterprise blockchain.” The partnership basically makes J.P. Morgan’s enterprise version of Ethereum, Quorum, as the first distributed ledger platform available through Microsoft’s Azure Blockchain Service, allowing their clients to easily build and scale blockchain networks in the cloud.
“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,” said Umar Farooq, global head of Blockchain, J.P. Morgan. “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.”
The partnership seeks to boost Quorum as a “fully integrated, Ethereum-based blockchain platform and suite of applications” that makes it easier – and cheaper – for customers to build and deploy blockchain apps. Both companies said that they will continue working together to address user needs, with Microsoft slated to provide engineering, consulting, and go-to-market support for the platform.
“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,” said Peggy Johnson, executive vice president of Business Development, Microsoft. “Together, we’re taking a truly transformative technology like Quorum and making it available through the Azure platform to accelerate innovation for our customers.”
Photo: www.solvencyiiwire.com