JPMorgan may open a separate company to work on a private version of the Ethereum blockchain
Banking giant JPMorgan may consider opening a separate company to work on its own blockchain project Quorum.
Citing anonymous sources, the Financial Times and Reuters report that the move, if taken, will aim to increase the platform’s appeal..
The open source project Quorum was launched in 2016 and is a private version of the Ethereum blockchain. JPMorgan presented the project at the annual Sibos conference.
According to Reuters, a JPMorgan spokesman declined to “comment on the speculation” about a possible restructuring of the project, while noting: “Quorum has become an extremely successful corporate platform even outside the financial services industry. We admire its potential “.
Reuters was unable to determine if current Quorum project staff would join the new venture. It is also unknown what role the current head of the JPMorgan blockchain innovation center Amber Bolda will play in the new company, currently in charge of developing Quorum..
“We continue to believe that distributed ledger technology will play a transformational role in business. For this reason, we are actively developing many blockchain solutions, ”added a JPMorgan spokesman..
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