“Quorum blockchain significantly strengthened its position”

According to Oli Harris, head of JPMorgan bank on Quorum blockchain and cryptocurrency strategy, over the past six months, the project has significantly strengthened its position.

It is reported that the Quorum privacy protocol has been replaced by the Tessera protocol, developed in the Java programming language, which should make the project easier for third parties to learn.

Harris said that Quorum now operates on three continents. Thanks to a partnership with the Microsoft Azure cloud platform, blockchain has become more popular and available to third-party companies. It is possible that projects with source code will also be launched on the platform.

Quorum blockchain is designed to act as a kind of bridge between business and banks. JPMorgan has already connected more than 220 banks to its Interbank interaction system, and Quorum will save banks from various problems in cooperation.

Harris also noted that the bank is still developing stablecoin JPM Coin. Cryptocurrency will become an integral part of Quorum and will act as an intermediary in interbank transfers. Harris said that if the cryptocurrency becomes successful, it will be able to compete with the Ripple XRP token.

Recall that the Quorum project was introduced back in 2016. In April this year, it was reported that more than 200 banks joined the network testing, and in June JPMorgan corporate clients began testing JPM Coin.