The Zerocoin Electric Coin Company (ZECC), developers of Zcash, have announced a partnership with J.P. Morgan to add technology from Zcash to J.P. Morgan’s enterprise blockchain platform, Quorum. This will extend Quorum’s existing privacy protections to add cryptographically assured, private settlement of digitized assets on a distributed ledger without a central intermediary.
Zooko Wilcox, CEO of the Zerocoin Electric Coin Company, said: “We’re delighted to be working with J.P. Morgan on this project. Quorum’s innovative, open source design demonstrates that J.P. Morgan is leading the way for applications of distributed ledger technology in global finance. Zcash is the leading technology for cryptographic protection of assets on a distributed ledger. Combining these will unlock transformative possibilities.”
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J.P. Morgan’s Quorum is an enterprise-ready distributed ledger and smart contract platform, based on the Ethereum protocol. It is open source and can be freely used and extended.
Quorum has been featured in presentations by the Enterprise Ethereum Alliance. J.P. Morgan is a founding member of the Enterprise Ethereum Alliance, and ZECC has recently announced that it has also joined the Enterprise Ethereum Alliance. The organization seeks to augment Ethereum, enabling it to serve as an enterprise-grade technology, with research and development focused on privacy, confidentiality, scalability, and security.
“By adding the Zero-knowledge Security Layer into Quorum, we are able to explore how state of the art cryptographic privacy technology will enhance the next generation of financial services applications,” commented Suresh Shetty, J.P. Morgan Executive Director and Blockchain Center of Excellence Lead Architect