Multinational investment bank and financial services company JPMorgan is partnering with global tech giant Microsoft to promote its Quorum blockchain on the latter’s Azure platform.
Both companies recently announced that they will be leveraging Azure to promote Quorum, JPMorgan’s private enterprise version of the Ethereum blockchain, and support adoption of the network.
“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, JPMorgan’s global head of Blockchain.
“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.”
This partnership will make Quorum the first distributed ledger platform available on Microsoft’s Azure Blockchain Service. Both JPMorgan and Microsoft customers will then be able to build and scale blockchain networks in a cloud environment.
“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,” said Peggy Johnson, executive vice president of Business Development at 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.”
Quorum as preferred stack for Azure
Microsoft will be positioning Quorum as its preferred stack for blockchain applications built on Azure. JPMorgan, meanwhile, will build and deploy its own first-party apps for the Azure Blockchain Service.
Quorum will also continue to support endeavors from both JPMorgan and Microsoft, including the bank’s internal cryptocurrency JPM Coin and royalty payment processes for Microsoft’s Xbox gaming platform.
JPMorgan has also recently revealed another high-profile partnership for Quorum with Truffle, who believes their new integration will open the door for more enterprise-grade blockchain solutions to become available. The firm has also announced that it plans to expand its blockchain projects to cover settlement features.