Microsoft teams up with JP Morgan to support blockchain project

Startups • May 3, 2019, 7:46AM EDT
UPDATED: May 3, 2019, 9:10AM EDT
The Block

Two of the world's biggest companies, Microsoft and JP Morgan, have announced a joint partnership to integrate their blockchain platforms. Microsoft is making JP Morgan's 4-year-old giant blockchain platform, Quorum, the first distributed ledger available in its Azure Blockchain service. Microsoft will also offer "engineering, consulting and go-to-market support for the platform" as part of the deal.

THE SCOOP

Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

Mark Russinovich, CTO of Microsoft's cloud services division, said in a blog that JP Morgan's Quorum has been a "natural choice [because] it’s built on the popular Ethereum protocol." He added it would offer Microsoft's enterprise customers "confidential transactions," while "Quorum customers like Starbucks, Louis Vuitton" would benefit from the Azure service to focus on building blockchain applications at low cost.

Russinovich added that the coming months would see Azure expand its offering; "including digital token management, improved application integration, and support for R3’s Corda Enterprise." Microsoft has been comparatively private about its blockchain plans, making the announcement a rare public endorsement of the tech.

About Author

Isabel is The Block's London and European reporter. She previously reported for Reuters in Madrid and London, following on from her time as a freelance journalist for the Guardian and the New York Times. She has a Bachelors in War Studies from King’s College London and a Master of Philosophy from the University of Oxford. Conflict of Interest: Edward Woodford, the CEO of SeedCX, is Isabel's brother. She does not report on any issues related to Seed or advise other authors in any regard.