Microsoft’s Azure Platform to Support JPMorgan’s Quorum
Microsoft’s Azure cloud platform will support Quorum, the enterprise-variant of Ethereum blockchain.
In a press release on May 2 from Microsoft, the company announced that they will promote Quorum through the Azure cloud platform. Quorum, the private enterprise version of Ethereum from JPM, will now be promoted to the global tech giant companies.
Quorum 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,” stated the press release.
JPM’s global head of blockchain, Umar Farooq stated that Quorum has had four successful years while it operated and was used by organizations all over the world.
The companies stated that the partnership will make Quorum a stronger Ethereum-based blockchain platform that will come with a suite of applications. Thanks to the strategic partnership, customer will be able to grow their networks while keeping the costs low.
Quorum to Become Stronger After the Partnership
Farooq added that “Azure will bring unique strengths to enterprise clients using Quorum.”
Microsoft’s executive vice president of Business Development, Peggy Johnson, noted that together with the Quorum technology, they will “accelerate innovation for our customers.”
Quorum will not only provide customers a platform to build blockchain networks and applications, but will also continue to power the JMP and Microsoft blockchain programs and first-party applications like the Interbank Information Network, JPM Coin and the Xbox royalty payment process, and more.
Signing this partnership with Microsoft will make Quorum more accessible to customers through the Microsoft Azure platform.
The partnership also makes everyone wonder about the rumors of Quorum launching as an independent platform, considering its success in the past years. According to sources familiar with the bank, JPMorgan is “still exploring options” for a possible Quorum spinoff, noted Coindesk’s Nikhilesh De.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.