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Build 2019: Microsoft joins Blockchain bandwagon, teams up with JP Morgan to push ‘Quorum’

Ahead of Build 2019 developer conference, Microsoft has launched Azure Blockchain Service for enterprise users. It will also support JP Morgan’s Quorum, the enterprise-focused version of Ethereum.

Microsoft has teamed up with JP Morgan to make Quorum first ledger available on its new blockchain platform
Microsoft has teamed up with JP Morgan to make Quorum first ledger available on its new blockchain platform (REUTERS)

Microsoft has now fully embraced blockchain technology. Ahead of its Build 2019 conference, Microsoft introduced 'Azure Blockchain Service'. To push its new blockchain service, Microsoft has teamed up with JP Morgan to make Quorum first ledger available on the platform.

What is Azure Blockchain Service?

Microsoft explains Azure Blockchain service as a "fully-managed" blockchain network aimed at simplifying the "formation, management, and governance of consortium blockchain."

Azure Blockchain Service is currently available in preview to enterprise users.

"With a few simple clicks, users can create and deploy a permissioned blockchain network and manage consortium policies using an intuitive interface in the Azure Portal," said the company in a release.

The platform comes with built-in governance which empowers developers to include "new members, set permissions, monitor network health and activity, and execute governed, private interactions through integrations with Azure Active Directory."

ALSO READ: IBM launches Blockchain-based global payment network

JP Morgan partnership

Quorum is essentially an enterprise version of popular Ethereum. With the partnership, JP Morgan and Microsoft are looking to accelerate the adoption of enterprise blockchain. The two will also work to integrate Quorum in the cloud.

"Because it's built on the popular Ethereum protocol, which has the world's largest blockchain developer community, Quorum is a natural choice. It integrates with a rich set of open-source tools while also supporting confidential transactions—something our enterprise customers require. Quorum customers like Starbucks, Louis Vuitton, and our own Xbox Finance team can now use Azure Blockchain Service to quickly expand their networks with lower costs, shifting their focus from infrastructure management to application development and business logic," said Microsoft.

ALSO READ: NITI Aayog, Oracle to fight fake drugs in India through blockchain

Amazon competition

Even as the likes of Microsoft and Adobe are launching new cloud initiatives, Amazon has continued to be the top cloud player. As far as blockchain goes, Amazon has already introduced a bunch of initiatives to leverage the new network.

At its re:Invent 2018 conference, Amazon launched Amazon Quantum Ledger Database and Amazon Managed Blockchain services. Interestingly enough, Amazon's new services are also aimed at helping enterprises maintain workflow management and keep record of millions of transactions. Amazon has also added support for open source blockchain frameworks such as blockchain frameworks -- Ethereum and Hyperledger Fabric.

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