The renowned American bank JP Morgan has announced a new partnership with Microsoft to make blockchain technology easy and cost effective for companies.
With this partnership, Quorum, an Ethereum-based blockchain platform that was developed by JP Morgan, will be the first DLT platform made available through Microsoft’s Azure service, allowing customers to build a scalable blockchain network in the cloud.
This is certainly a very important operation. Umar Farooq, Global Head of Blockchain at JP Morgan, explained:
“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. 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.”
With this partnership between JP Morgan and Microsoft, both companies will have the opportunity to provide customers with a valuable tool enabling them to take advantage of blockchain technology. This solution aims to simplify processes for companies that intend to use DLTs.
Peggy Johnson, Executive Vice President of Business Development at 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. Together, we’re taking a truly transformative technology like Quorum and making it available through the Azure platform to accelerate innovation for our customers.”