JPMorgan To Merge With Ethereum’s ConsenSys Platform

Banking giant JPMorgan to merge its Quorum Blockchain project with Ethereum’s ConsenSys platform as we are reading further in the ethereum news today.

According to the latest reports that we have here on DC Forecasts, the terms of the deal are still under discussion and are not still set so the merger could happen within the next six months. Quorum was first introduced in 2016 and created a wave of excitement for the users since it was officially connected as a bank to Ethereum and even if it was a private version of the tech, it got a lot of support. The firm suggested at the time that open source projects were a step towards creating a system that could connect the private institutions via the distributed networks.

Since then, Quorum had its privacy features from Ethereum added and there as a huge revamp based on the Java programming language in a bid to try and make it easier for businesses to use and deploy projects. The platform was also used as the basis for JPMorgan’s interbank information network which was now listing more than 365 banks on board. The platform is aimed at allowing the member banks to exchange more information in real-time which will also allow them to verify payments that have been approved.

JPMorgan to merge with Ethereum will mean a whole lot for the crypto platform, especially since the bank suggested Quorum could be spun off and it was uncertain if that could be the case at the time. Reuters reports added that the Quorum unit employs more than 25 people around the globe and it’s not yet clear if they will become a part of the ConsenSys team after the merge. JPMorgan has not commented yet.

As previously reported, ConsenSys, the New York-based blockchain company officially released a new dApp and blockchain developer job kit which will help the ETH developers enter the market. ConsenSys noted previously on LinkedIn’s 2018 US Emerging Jobs Report that the blockchain developer rates have reached the professional network’s list as the highest-growth positions last year. The Kit includes a knowledge glossary, covering topics such as consensus algorithms, miners, security, smart contracts, token standards, and scalability issues.