Microsoft has signed a memorandum of understanding with J.P. Morgan 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, the company said in a statement.
The partnership with Azure will 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, the statement added.
Umar Farooq, global head of Blockchain, J.P. Morgan, said, “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.”
Umar Farooq, added, “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.”
Peggy Johnson, executive vice president of Business Development, Microsoft, said, “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.”
Peggy Johnson, added, “Together, we’re taking a truly transformative technology like Quorum and making it available through the Azure platform to accelerate innovation for our customers.”
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.