JPMorgan is teaming up with Microsoft on blockchain, aiming to attract more companies to its free-to-use platform
JPMorgan built its blockchain platform, Quorum, about four years ago. Photo: Kevin Hagen for The Wall Street Journal May 2, 2019 3:38 p.m. ET JPMorgan Chase & Co. said Thursday that it is tapping Microsoft Corp.’s cloud-based services to boost its blockchain platform, aiming to make it easier, faster and cheaper for companies to build and deploy blockchain applications.
Umar Farooq Photo: JP Morgan Chase & Co. While the bank doesn’t charge companies to use Quorum, Mr. Farooq said getting more organizations to use one blockchain platform could help iron out standards for building blockchain applications and sharing data. JPMorgan built Quorum about four years ago on the blockchain-based Ethereum network. The bank also uses Quorum for internal purposes, such as to experiment with how blockchain could be used for capital markets. It issued its digital coin, the JPM Coin, on Quorum.
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