ConsenSys, a blockchain software company, acquired Quorum, an enterprise-variant of the Ethereum blockchain developed by J.P. Morgan (NYSE: JPM).
In addition, J.P. Morgan made a strategic investment in ConsenSys to support its mission to help developers build next-generation networks and enable enterprises to launch more powerful financial infrastructure.
With the addition of Quorum, ConsenSys now offers a full range of products, services, and support for Quorum, accelerating the availability of features and capabilities—such as digital asset functionality and document management.
J.P. Morgan and ConsenSys are two leading organizations in Enterprise Ethereum and have a long history of collaboration after leading the creation of the Enterprise Ethereum Alliance, helping 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.
Since the launch of Quorum in 2016, ConsenSys and J.P. Morgan have collaborated to make Ethereum the platform of choice for enterprises building secure and customizable business networks at scale.
ConsenSys will merge its existing protocol engineering roadmap with Quorum, leveraging the best of both codebases. 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 blockchain products, such as Codefi’s finance and commerce application suite.
J.P. Morgan will be a customer of ConsenSys’ advanced features and services deployed on Quorum.