KCN: JPMORGAN IN TALKS TO MERGE BLOCKCHAIN UNIT QUORUM WITH STARTUP CONSENSYS

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JPMORGAN IN TALKS TO MERGE BLOCKCHAIN UNIT QUORUM WITH STARTUP CONSENSYS

JPMorgan Chase, american financial holding, is in talks to merge its blockchain unit Quorum with startup ConsenSys. The deal will be officially announced within six months. According to Reuters: “Around 25 people currently work on the Quorum team globally, and it is unclear whether they will join ConsenSys after the merger, the people said… JPMorgan built the Quorum blockchain internally using the ethereum network, the software that underpins ether, one of the most well known cryptocurrencies… It is being used by JPMorgan to run the Interbank Information Network, a payments network that involves more than 300 banks. JPMorgan, the largest U.S. bank by assets, also said it would use Quorum to issue a digital currency called JPMorgan Coin that it designed to make instantaneous payments using blockchain.”… Stay with us. The news release partner STEX.com.

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