Microsoft Corporation on Thursday announces to promote JP Morgan chase’s quorum Blockchain for its cloud-based services, in order to help in the development and deployment of Blockchain application for enterprises customers.
According to the firm, the Redmond, a Washington based software company is looking to support JPMorgan’s Quorum Blockchain, the private business Blockchain based on ethereum. And with the new partnership, the global tech giant is seeking to support the adoption of Blockchain after signing the MoU (memorandum of understanding).
Under this initiative, Quorum Blockchain “will become the first distributed ledger platform available through the Azure Blockchain services” as quoted by the companies in the press release. In order to support JPMorgan and Microsoft customers to develop and scale the Blockchain network in its cloud-based services.
Umar Farooq, JPM’s global head of Blockchain initiative said in the statement that Microsoft’s Azure will power Quorum to allow the business to build new Blockchain application for bringing a unique strength to business clients using quorum.
And thus now “it is important to make sure that we could provide the sort of enterprises tools and services that they need.” He continued.
JPMorgan Chase & Co had created Quorum around 4 years ago on the Blockchain based ethereum network. The Blockchain platform is operational, around the world among many organizations that are using the technology. However, Bank is already using it for internal purposes such as testing the use of Blockchain in the capital market through its internal cryptocurrency JPMCoin and royalty payment points in its Xbox gaming platform.
With this collaboration, the firms are intended to address business, developers and customer’s needs by developing a Blockchain application with Azure cloud services.
According to Peggy Johnson, executive V.C. of business development at Microsoft statement the initiative by the two firms will make Quorum easily available for everyone using Azure services. She further elaborated “as digital transformation expands beyond the walls of an individual organization, companies need solutions that enable them to securely share their business process and data.”
What you think the partnership will bring for the future of enterprises Blockchain services? Let us know in the comments section below.