JP Morgan Chase to Use Microsoft Cloud Services with Blockchain Platform

JPMorgan Chase & Co. said 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. Microsoft’s Azure will power the platform, named Quorum, which will allow enterprises to build new blockchain applications in as little as a few weeks without needing as much expertise. 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 and the issuing of its digital coin, the JPM Coin.