JP Morgan’s Ethereum-Based Quorum Gets Mixed Reception
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....
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The first partnership for Quorum since leaving JPMorgan is a big one.
ConsenSys has partnered with China’s Blockchain-based Service Network to accelerate the enterprise adoption of Ethereum apps in China. ConsenSys, one of the world’s largest blockchain software companies, has partnered with the Blockchain-based Service Network, a Chinese government-backed nationwide blockchain project,As part of the partnership, ConsenSys’ Ethereum-based distributed ledger protocol ConsenSys Quorum will be featured on the BSN ecosystem, the firm announced on Jan. 25. The protocol will be available in 80 different cities through BSN’s public city nodes across mainland China.....
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....
Banking giant JP Morgan has recently announced that they will be launching an In-Residence program in a bid to get FinTech startup companies to tackle challenges within the industry. JP Morgan is aiming to get financial technology startups to come together with its company so that they can brainstorm ideas that will help to change the industry, enabling banks to work faster and safer. The FinTech companies that have the opportunity to take part in the In-Residence program will join forces with JP Morgan for six month periods with access to the American bank’s systems, expertise, and....
Ethereum’s price rose 7% over the past 24 hours, continuing an apparent up-trend, increasing to $14.50, up from around $10 at the beginning of the month. Price Rises in Anticipation of Enterprise Ethereum – image from poloniex The main reason appears to be Enterprise Ethereum. Details are sparse, but a launch event is to be held tomorrow, on the 28th of February, at what appears to be JP Morgan’s offices in Brooklyn, New York. According to the event’s website: “[S]ome of the largest corporate users of Ethereum will demonstrate the most mature enterprise applications of blockchain running....