Investment banking firm J.P. Morgan and Microsoft have partnered to drive enterprise adoption of J.P. Morgan’s enterprise-variant of Ethereum blockchain, Quorum, which will be powered by Microsoft Azure.
The partnership will enable customers of both firms to build and scale blockchain networks in the cloud.
“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,” said Umar Farooq, global head of Blockchain at 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 platform aims to allow businesses from all industries to focus on application development. Customers can grow their networks with the lower costs, simplified deployment and built-in governance of Azure Blockchain Service.
“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,” said Peggy Johnson, executive vice president of Business Development at Microsoft. “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.”
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