JP Morgan, a wall street financial firm, and Microsoft, a technology giant, have partnered to push the adoption of Quorum, an Ethereum-based blockchain platform developed by the financial firm.
With Quorum, JP Morgan hopes to revolutionize the way companies do business and be a transformative force in the modern age. It is this hope that JP Morgan and its staff believe the Microsoft partnership could be a crucial step towards its realization.
Umar Farooq, Global Head of Blockchain, 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.”
In the long run, JP Morgan and Microsoft will continue their partnership to address common enterprise, Independent Software Vendor, and developer needs for building and deploying blockchain applications on Quorum in the cloud.
On its part, Microsoft will give engineering, consultation and go-to-market support for Quorum.
According to Peggy Johnson, Executive Vice President of Business Development, Microsoft, Quorum will organizations thrive “beyond the walls of an individual organization” which will help reinvent the industries. Additionally, the partnership will be to help “accelerate innovation” for those using Microsoft Azure, a cloud computing platform.
Led by Oliver Harris, Quorum is not just available to its customers, the technology is also used by Microsoft and JP Morgan teams for various projects, such as JPM Coin, Interbank Information Network, and Microsoft’s Xbox royalty payment process. Quorum is the first blockchain platform available on Azure.