JP Morgan Case Study
J.P. Morgan turns to Web3 Labs to improve Quorum Blockchain
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.
About the Client
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.
The Challenges
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.
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.
The Results
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.
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How Web3 Labs can help you
Web3 Labs is a blockchain technology company that works with large organisations to deliver applications that improve trust and authenticity of data and assets.
Clients that have taken advantage of our Strategy and Delivery Services include Microsoft, J.P. Morgan and Vodafone.
Our products include the widely used blockchain developer library Web3j and the leading blockchain analytics platform, the Chainlens Blockchain Explorer.