JP Morgan signs MoU with Microsoft to push enterprise blockchain

In order to push adoption of enterprise blockchain, JP Morgan and Microsoft Corp have signed a memorandum of understanding (MoU) to form a strategic partnership. Through this agreement, Quorum, a distributed ledger platform, developed by JP Morgan will be available through Azure Blockchain Service.

The partnership with Azure will strengthen Quorum as an integrated, Ethereum-based blockchain platform and suite of applications. Together, the platform targets their common enterprise customers across all industries.

The company said that both JP Morgan and Microsoft will work together to address common enterprise, Independent Software Vendor, and developer needs for building and deploying blockchain applications on Quorum in the cloud. Microsoft will also provide engineering, consulting and go-to-market support for Quorum.

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In addition to providing a platform for Quorum customers to build blockchain networks and applications, Quorum will power JP Morgan and Microsoft blockchain programs and first-party apps, such as the Interbank Information Network, JPM Coin and Microsoft’s Xbox royalty payment process, among others.