Bloomberg reports that JPMorgan Chase is considering extending its blockchain platform Quorum, a separate, independent company.
According to reports from unnamed sources a final decision on whether a Quorum private company or not is still pending. The Financial Times adds that other sources say that JPMorgan could scare off potential partners Quorum, who are also competitors JPMorgan.
Brian Marchioni, a representative of JPMorgan, said that the company “continues to believe that the technology of distributed registries will play a transformative role in business, and that is why we are actively building multiple blockchain solutions”. Marchioni added that they would not “comment on speculation”, but:
Quorum has become an extremely successful enterprise platform, in addition to financial services, and we are very pleased with its potential.
JPMorgan created Quorum in 2016 in the framework of the Ethereum Enterprise Alliance (EEA), one of the founders of which he is. EEA now has more than 200 members including JPMorgan and Santander, as well as new members such as MasterCard, Intel and Microsoft.
The Quorum platform, which runs on the blockchain Ethereum (ETH) is used by pharmaceutical companies Pfizer and Genentech, as well as Microsoft Azure and others.
In early February of this year, JPMorgan called cryptocurrency innovation vortex” around blockchain technology, which is “unlikely to disappear”.