The tech giant Microsoft and the banking heavyweight JP Morgan are both in the latest cryptocurrency news for a strategic partnership that will revolve around the duo and their boost of enterprise adoption of Morgan’s in-house private for of Ethereum, Quorum. The Microsoft and JPMorgan partnership will welcome Quorum as the inaugural blockchain on its Azure cloud platform.
The new Azure Blockchain Service is one of the company arms that Microsoft launched on May 2nd. It is designed to allow customers to leverage blockchain solutions in streamlined fashion. As the Microsoft and JPMorgan partnership also came with an official announcement in which it describes that it would allow enterprises working with blockchain tech “to shift their focus from infrastructure management to application development, ultimately driving transformative business value.”
On a side note, this is a win-win deal. Now that JPMorgan’s Quorum is in Azure’s stable, Microsoft has advanced on its competitor Amazon which launched its own Amazon Managed Blockchain service the past Tuesday.
JPMorgan, on the other hand, has a first-mover advantage with its Quorum platform, especially in ushering the enterprise developers on Microsoft’s flagship blockchain service. The Microsoft and JPMorgan partnership came in an announcement – shared by many best cryptocurrency news sites – in which the head of blockchain at JPMorgan, Umar Farooq, hailed the collaboration as a milestone that would expand Quorum’s appeal, stating:
“We are incredibly proud of the success Quorum has had over the last four years, as organizations around the world use Quorum to solve complex business and societal problems via blockchain solutions […] Azure will bring unique strengths to enterprise clients using Quorum.”
Meanwhile, Microsoft also committed to the partnership, stating that it is offering “engineering, consulting and go-to-market support for Quorum.” In extension to this, the participating enterprises will be able to leverage the Azure Blockchain Workbench which was launched to help companies build blockchain apps.
As many altcoin news sites noted, the Microsoft and JPMorgan partnership is in full steam ahead. As many say, Microsoft couldn’t have picked a better partner than JPMorgan to bootstrap the Azure Blockchain Service.
On another note, this new partnership aims to become a direct competitor to Amazon and its mission of becoming the leading blockchain-as-a-service (BaaS) choice among the markets.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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