Joe Lubin (Ethereum) in "in depth discussion" with JPMorgan on Quorum

On the occasion of EthCC 2020, the co-founder ofEthereum and boss of ConsenSys confirmed discussions with the bank JPMorgan regarding technologies Quorum. Joseph Lubin also focused on the finance sector.

Two of the co-founders ofEthereum were present on March 3 in Paris on the first day of the conference EthCC : Vitalik Buterin and Joseph Lubin. The latter, who also runs the software editor ConsenSys, took the opportunity to return to the opportunities of blockchain in the financial sector.

But the leader mostly confirmed the discussions with the bank JP Morgan Chase & Co, mentioned last month by Reuters. Joe Lubin recognizes a "thorough discussion" with the actor of finance, without providing more details on the terms of a potential agreement.

Resistance to Quorum managed by JPMorgan

We work very closely with the team Quorum of JPMorgan for a long time, says the CEO of ConsenSys, which recalls that the bank's applications relate mainly to the private blockchain.

He explains that the development of blockchain systems by the bank is already very advanced and that it now wants others to use its technologies and systems. However, underlines Lubin, this practice faces obstacles in other financial institutions, reluctant to adopt the technology of a rival.

By outsourcing these developments to a third party like ConsenSys, JPMorgan could thus hope to see its systems be adopted more widely and thus enrich itself in terms of features. The CEO also notes that finance is a priority area for the editor, who already collaborates with big names in finance, including Mata Capital in France.

Digital assets are ConsenSys priority

"We are not focused on fintechs and financial services ”, however, would like to specify Lubin, who also mentions in particular the supply chain. For the boss, finance is above all an important aspect in companies and blockchain projects.

"We are very involved in digital assets »He also prefers to highlight, citing in particular staking. The next step for the boss of ConsenSys is also to develop the adoption of blockchain technologies with another population.

According to him, the main users today come from the technological universe and the "nerds" of finance, especially in the field of Challenge, decentralized finance. Lubin now wants to reach new users.