Microsoft, J.P. Morgan team up to accelerate adoption of enterprise blockchain
Through the partnership, Quorum, developed by J.P. Morgan, will become the first distributed ledger platform available through Azure Blockchain Service.
Tech giant Microsoft Corporation (NASDAQ:MSFT) and J.P. Morgan are making strides in the adoption of blockchain-based technologies. The companies have announced the signing of a memorandum of understanding to forge a strategic partnership which aims to accelerate the adoption of enterprise blockchain.
Through this collaboration, 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.
The partnership with Azure is set to further strengthen Quorum as a fully integrated, Ethereum-based blockchain platform and suite of applications. Together, the platform will enable enterprise businesses across all industries to shift their focus from infrastructure management to application development, ultimately driving transformative business value. 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.
In terms of future plans, J.P. Morgan and Microsoft say they 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.
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.