In a joint statement released today, JPMorgan explained in greater detail what the partnership with Microsoft means, not only to enterprises looking to use the publicly available Quorum blockchain JPMorgan helped create, but in an unusually bold statement from a financial institution, to society at large. “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, in a statement. The two companies, collectively valued at $1.3 trillion said they signed a memorandum of understanding to accelerate the adoption of blockchain among large enterprises. The statement positions JPMorgan as the first distributed ledger platform available through the Azure Blockchain Service, a series of tools designed to seamlessly integrate with Microsoft’s cloud platform. While JPMorgan is so far the largest user of the open-source Quorum it helped create, with the JPM Coin product announced last month, Microsoft has taken more of a support position, aligning with a number of blockchain solutions.

Source: Forbes May 02, 2019 21:56 UTC