ConsenSys Acquires JP Morgan’s Blockchain Platform

Blockchain software company ConsenSys today announced the acquisition of Quorum, an enterprise-variant of the Ethereum blockchain launched by JP Morgan (JPM) in 2016.

The two firms have a history of collaboration after leading the creation of the Enterprise Ethereum Alliance, whose aim is to bring a Mainnet Ethereum client, Hyperledger Besu, to the Linux Foundation, and working together on industry applications built on Quorum, such as komgo and Covantis.

“The creation of Quorum was a first for JP Morgan, both in terms of developing its own blockchain protocol, and open sourcing software for the developer community,” says Umar Farooq, global head of Blockchain at JPM. “We’re incredibly proud of the usage of Quorum over the past few years and are excited to have ConsenSys as a partner to take the vision forward.”

ConsenSys will merge its existing protocol engineering roadmap with Quorum, leveraging the best of both codebases, it says. All Enterprise Ethereum protocol technology at ConsenSys will fall under the ConsenSys Quorum brand, and developers will have the option to choose their underlying technology stack. Quorum will remain open source and become interoperable with ConsenSys’ other leading blockchain products, such as Codefi’s finance and commerce application suite. JPM will be a customer of ConsenSys’ features and services deployed on Quorum.

“Even before the very first block on Ethereum was mined and ConsenSys was formed, we’ve collaborated with JP Morgan on Ethereum proofs of concept and production systems. We are enormously excited to onboard Quorum into the ConsenSys Enterprise Ethereum stack, and look forward to unifying our Hyperledger Besu-based Enterprise Ethereum client with Quorum, and supporting all of the Quorum installations globally. We look forward to continuing our multifaceted partnership with JP Morgan for many years and ushering in an era of enterprise and mainnet compatibility,” says Joseph Lubin, founder and CEO of ConsenSys and co-creator of Ethereum.

Julie Ros

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