J.P. Morgan and Microsoft announce strategic partnership to drive enterprise adoption of Quorum
May 2, 2019
Quorum, an enterprise-variant of the Ethereum blockchain, to be powered by Microsoft Azure
NEW YORK and REDMOND, Wash. — May 2, 2019 — J.P. Morgan and Microsoft Corp. on Thursday announced they have signed a memorandum of understanding to form a strategic partnership to accelerate the adoption of enterprise blockchain. Through this partnership, Quorum, developed by J.P. Morgan, will become the first distributed ledger platform available through Azure Blockchain Service, enabling J.P. Morgan and Microsoft customers 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 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.”
Going forward, J.P. Morgan and Microsoft will continue to work together 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.
“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 addition to providing a platform for Quorum customers to build blockchain networks and applications, Quorum will continue to power J.P. Morgan and Microsoft blockchain programs and first-party apps, such as the Interbank Information Network, JPM Coin and Microsoft’s Xbox royalty payment process, among others.
More information can be found at https://azure.microsoft.com/en-us/solutions/blockchain/.
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