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Blockchain software development company ConsenSys has acquired Quorum, the enterprise financial solution protocol developed by investment bank JP Morgan Chase, according to an announcement made on August 25.
- The protocol is now known as ConsenSys Quorum and ConsenSys has said that all Ethereum Enterprise protocol technology being developed will be a part of ConsenSys Quorum
- Quorum is an open source protocol that facilitate privatized financial use cases for businesses; ConsenSys Quorum will offer both public and private enterprise use cases
- Three priorities have been highlighted: open source development, the "aligned evolution and development" of private and public enterprise solutions and more robust production-grade features
- ConsenSys will now maintain the Quorum codebase and make it compatible with its other enterprise applications
- JP Morgan also made a strategic investment in ConsenSys, though the financial details are undisclosed; JP Morgan will receive a position on ConsenSys’ Board of Directors
- ConsenSys Quorum is used by highly successful companies, including Microsoft, Covantis and South African Reserve Bank
Related Reading:
- ConsenSys launches compliance platform for DeFi
