JPMorgan discreetly rebooted their blockchain technology which supports the JPM Coin
- JPMorgan wants to allow Quorum to be greatly more usable for a larger universe of firms.
- Last week the investment bank announced a partnership with the Microsoft Azure Blockchain service.
JPMorgan’s Head of Quorum and crypto-assets strategy, Oli Harris, recently detailed that JPMorgan Chase has quietly replaced the guts of its blockchain. Over the last six months, technologists spread across London, Singapore and the U.S. have “rebooted” Quorum, the megabank’s private version of the Ethereum blockchain,
The team behind the development replaced Constellation, Quorum’s privacy layer written in the Haskell computer language, with Tessera, which has a similar design, but instead is built in Java to make it smoother for businesses to use and implement.
As a recap, JPMorgan’s partnership with the Microsoft Azure Blockchain service was announced last week. A reboot was designed to allow for Quorum to be more usable by a larger universe of firms.
Harris noted some information on the potential spin-off:
It’s open source software, available on Github and maintained by JPMorgan on behalf of everyone using Quorum. The more users of Quorum, the better it is for everyone, because we can help with standardization and creating even more robust tech suite.
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
