On Thursday, J.P. Morgan and Microsoft Corp. had signed a memorandum, thus forming a strategic partnership which will accelerate the adoption of enterprise blockchain.
J.P. Morgan will become the first distributed ledger platform available through the Azure Blockchain Service, enabling J.P. Morgan and Microsoft customers to build and scale blockchain networks in the cloud.
Designed to make adopting blockchain easier; Quorum offers an enterprise ready version of Ethereum for businesses that need a secure, reliable, and open-sourced blockchain solution.
Umar Farooq, global head of Blockchain, J.P. 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”, said Farooq.
The partnership will further strengthen Quorum as a fully integrated, Ethereum-based blockchain platform and suite of applications. Now, enterprise businesses across all industries can focus on application development rather than infrastructure management.
Transformative business value will be driven too Customers can rapidly grow their networks while benefiting from lower costs, simplified deployment and built-in governance enabled through Azure Blockchain Service.
“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.”
In the future, J.P. Morgan and Microsoft will continue to address common enterprise, independent software vendor and developer needs for building and deploying blockchain applications on Quorum in the cloud. Microsoft will also provide engineering, consulting and go-to-market support for Quorum.
Quorum will continue to power J.P. Morgan and Microsoft blockchain programs, as well as providing a platform for Quorum customers to build blockchain networks and applications. Quorum will also continue to power first-party apps, including Microsoft’s Xbox royalty payment process, Interbank Information Network and JPM Coin.
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