J.P. Morgan, Case Study

To meet the needs of private blockchain networks, J.P. Morgan’s own blockchain version of Ethereum - Quorum (now ConsenSys Quorum) - introduced additional privacy, performance, and permissioning capabilities on top of Ethereum.

Despite being widely compatible with Ethereum and demonstrating as very useful by itself, the platform still lacked specific feature support. Web3 Labs has helped the banking giant address this problem with its popular Web3j library and creating an ecosystem to make the platform more accessible to users.

J.P. Morgan is a global leader in providing financial services and solutions to the major organizations, institutions, and governments around the world. Active in more than 100 countries, it is one of the pioneers in implementing blockchain technology in its field. Recognizing very early the opportunity that blockchain technology presents in its branch of industry, the banking giant launched its own version of Ethereum in November 2016, and named it Quorum.

Although broadly compatible with Ethereum technology, Quorum (J.P. Morgan’s own version of Ethereum) lacked specific feature support. Specifically, the company required a tool to support the privacy features of Quorum, in order to make it more accessible to a larger group of enterprise users everywhere.

Customer Challenges

At a glance

Website: www.jpmorgan.com/global
Country: USA
Industry: Finance
Products and Services: Delivery Services, Web3j

The Solution

Having already released the popular blockchain library Web3j by this point, the Web3 Labs team adapted it to support the privacy features of Quorum. Working alongside the Quorum team, Web3 Labs assisted J.P. Morgan in achieving just that and, as a result, building up its ecosystem to make the platform more accessible to users. In addition, Web3 Labs created a JavaScript library quorum.js to cater for the JavaScript community.

Customer Benefits

Thanks to this project, the Quorum platform became available to an even wider group of users in enterprise settings all over the world. Even though it was carried out relatively early in the adoption of blockchain technology, having one of the largest banks in the world embrace the opportunity has demonstrated one important lesson. Organizations of its kind can be very agile when they need to be.

How Web3 Labs can help you

Web3 Labs works with organizations to deliver applications that improve the trust and authenticity of data and assets. Its clients include Microsoft, J.P. Morgan, and Vodafone.

We believe in creating business value and greater efficiency through decentralization. Offering rapid exploration of your blockchain opportunities.