JP Morgan Joins Ethereum in Developing Private Blockchain ‘Quorum’
JP Morgan, America’s largest bank with total assets of $2.35 trillion, is building a private blockchain based on ethereum according to a recently published presentation. JP Morgan’s Quorum, built in partnership with EthLab, co-founded by Jeffrey Wilcke, an Ethereum core developer, is “a minimalistic fork of the Go Ethereum client” and a “derivative of Go Ethereum.” It allows for hundreds of transactions per second, according to the presentation, and increased privacy as smart contracts can be validated by only parties to the contract. The presentation shows a high-level view of the private....
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Ethereum has become the latest focus of attention of global banking conglomerate JP Morgan, which has unveiled its latest blockchain-based product. Quorum by JP Morgan: ‘A New Set Of Consensus Rules’. Quorum is a publicly available system JP Morgan is developing as a tool to iron out the “problems” of blockchain technology versus the needs of traditional....
Another industrial-era executive has joined a Bitcoin startup. Paul Camp joins Bitcoin BankCircle as the Chief Financial Officer. An 18 year finance veteran, he has been hired by Digital Currency payment processor to serve as Chief Financial Officer and Treasurer. Prior to accepting a position with Circle, Camp lead JP Morgan's global transaction services. Camp will bring that experience with him, potentially broadening Circles international capabilities. Circle is a cryptocurrency wallet provider that raised over $25m in funding last March. Perhaps best known for being one of the first....
Jacob Dienelt is the latest Morgan Stanley veteran to leave Wall Street and join the Bitcoin industry. Following the likes of former JPMorgan Chase executive Blythe Masters and former JPMorgan Managing Director Paul Camp, Dienelt has made the move from traditional banking at Morgan Stanley Private Wealth Management to join the emerging digital currency industry as head treasurer of Factom . Factom, a Bitcoin 2.0 company creating a notarized audit trail with blockchain technology, has hired Dienelt as part of its focus on bitcoin asset management for its software token sale. Dienelt brings....
A new report from Morgan Stanley has revealed that if Ethereum switches to a proof-of-stake (PoS) consensus as planned, it will do away with the need for miners, reducing the demand for graphics processing units (GPUs), and significantly lower energy needs. Ethereum Miners Could Find Alternatives, Says Morgan Stanley GPU usage may decrease if Ethereum […]
Global investment bank Morgan Stanley has released thoughts around leading smart contract platform Ethereum. In a recently published note titled “Cryptocurrency 201: What Is Ethereum?” the bank revealed its outlook for the future of the blockchain. Ethereum which continues to maintain large dominance over the decentralized finance (DeFi) and NFTs space might find itself losing […]