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J.P. Morgan & Microsoft partner to promote enterprise blockchain adoption

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Peggy Johnson, Executive VP of Business Development, Microsoft

J.P. Morgan and Microsoft Corp. have mutually agreed to partner to accelerate the adoption of enterprise blockchain. Central to this collaboration will be Quorum, an enterprise developed by J.P. Morgan that offers an enterprise-ready version of Ethereum for businesses that need a secure, reliable, and open-sourced blockchain solution which will now be available on Microsoft Azure, thus becoming the first distributed ledger platform. This service will enable customers of both the parties central to this agreement to build and scale a blockchain network in the cloud.

Umar Farooq, global head of Blockchain, J.P. Morgan expressed his joy over the partnership with Microsoft, and over the expansion of capabilities and services of Quorum that can be expected by customer brought in by the strength of Azure.

These strengths would help enterprises to shift their focus from infrastructure management to application development, ultimately driving transformative business values. Customers will be able to rapidly grow their networks while benefitting from lower costs, simplified deployment and built-in governance enabled through Azure Blockchain Service.

Quorum clientele is expected to consist of common enterprise, independent software vendor, and developer needs for building and deploying blockchain applications.

“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.

Currently, Quorum powers 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.

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