JPMorgan Chase’s Blockchain Quorum will be promoted by Microsoft’s Azure Platform
Microsoft announced that it will promote JPMorgan Chase’s blockchain to its Azure platform customers.
Washington based software firm, The Redmond will be supporting JPM’s private version of Ethereum, Quorum, through Microsoft’s Azure platform. After signing the MOU, they will be looking to support the adoption of the network through a new partnership.
The companies press release said that Quorum will become the first distributed ledger platform system that will be available through Azure Blockchain Service which would allow the customers of Microsoft and JPMorgan Chase to build and scale blockchain networks in the cloud.
According to Umar Farooq, JPM’s global head of blockchain, Quorum has been successful over the period of the last four years as it has been operational with organizations around the world. He also mentioned that Azure will bring unique strengths to enterprise clients using Quorum.
Quorum will be used mainly to support JPM’s Interbank International Network, its internal cryptocurrency JPMCoin , JPM’s and Microsoft’s blockchain programs and also as royalty points payment for the XBox gaming platform.
Using Azure’s cloud servers, both firms will try to address enterprise, developer and vendor needs for building blockchain applications.
Microsoft will be providing support for the network’s users, including engineering support.
Peggy Johnson, Microsoft’s executive vice president of business development said that this move will make Quorum more easily available to customers through the Azure platform.
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