Blockchain Can-Fix "Societal Issues" In partnership with Microsoft

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The largest bank in the United States has partnered with the largest software provider to offer large companies the blockchain companies.

In a joint statement released today, JPMorgan explained in more detail what the partnership with Microsoft meant, not only for companies seeking to use the publicly available Quorum channel chain, which JPMorgan helped create, but in an unusually bold statement from a financial institution and society. .

"We are extremely proud of Quorum's success over the past four years, as organizations around the world used it to solve complex business and societal challenges through blockchain solutions," said Umar Farooq, global director of Quorum. Blockchain, JP Morgan, in a statement.

The two companies, collectively valued at $ 1.3 trillion, said they have signed a memorandum of understanding to speed up blockchain adoption by large corporations. This statement makes JPMorgan the first distributed ledger platform available through Azure Blockchain Service, a suite of tools designed for seamless integration with Microsoft's cloud platform.

As part of this agreement, Microsoft provides the platform with engineering, consulting and marketing support.

The two companies are the first Forbes Blockchain 50 list published last month. While JPMorgan is so far the largest user of open source Quorum software that it has helped create, the JPM Coin product announced last month has allowed Microsoft to gain a supportive position, aligning on a number of blockchain solutions. Microsoft's Azure cloud is a growing source of revenue for the company, recently valued at $ 1 trillion.

Public blockchains like ethereum, to which everyone can access, were originally hailed as a means of transferring value without intermediary like banks, which many of their first users did not trust in the years that followed the financial collapse of 2007 and 2008. Licensed versions like Quorum have promised to streamline workflows at the middle and back-office level of companies by removing middlemen in these processes, as well as increasing the transparency of A number of supply chains, although the statement gives no example of the societal interest that the partnership could help bring.

In the future, companies plan to continue working together to help companies tap Quorum, which shares many similarities with the Ethereum blockchain, with the exception of 39, an extra check on who can see what.

"With digital transformation going beyond the walls of a business, companies need solutions that allow them to securely share business processes," said Peggy Johnson, vice president of business development for Microsoft, in a statement. . & Nbsp;

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The largest bank in the United States has partnered with the largest software provider to offer large companies the blockchain companies.

In a joint statement released today, JPMorgan explained in more detail what the partnership with Microsoft meant, not only to companies seeking to use the publicly available Quorum channel chain, which JPMorgan had helped create, but in an unusually bold statement from a financial institution and society in general. .

"We are extremely proud of Quorum's success over the past four years, as organizations around the world used it to solve complex business and societal challenges through blockchain solutions," said Umar Farooq, global director of Quorum. Blockchain, JP Morgan, in a statement.

The two companies, collectively valued at $ 1.3 trillion, said they have signed a memorandum of understanding to speed up blockchain adoption by large corporations. This statement makes JPMorgan the first distributed ledger platform available through Azure Blockchain Service, a suite of tools designed for seamless integration with Microsoft's cloud platform.

As part of this agreement, Microsoft provides the platform with engineering, consulting and marketing support.

Both companies are on the first Forbes Blockchain 50 list released last month. While JPMorgan is so far the largest user of open source Quorum software that it has helped create, the JPM Coin product announced last month has allowed Microsoft to gain a supportive position, aligning on a number of blockchain solutions. Microsoft's Azure cloud is a growing source of revenue for the company, recently valued at $ 1 trillion.

Public blockchains like ethereum, to which everyone can access, were originally hailed as a means of transferring value without intermediary like banks, which many of their first users did not trust in the years that followed the financial collapse of 2007 and 2008. Licensed versions like Quorum have promised to streamline workflows at the middle and back-office level of companies by removing middlemen in these processes, as well as increasing the transparency of A number of supply chains, although the statement gives no example of the societal interest that the partnership could help bring.

In the future, companies plan to continue working together to help companies tap Quorum, which shares many similarities with the Ethereum blockchain, with the exception of 39, an extra check on who can see what.

"With digital transformation going beyond the walls of a business, companies need solutions that allow them to securely share business processes," said Peggy Johnson, vice president of business development for Microsoft, in a statement.