In case you missed the biggest enterprise blockchain news for August, J.P. Morgan transferred its Quorum open source blockchain to ConsenSys and also became a ConsenSys shareholder. The investment amount was not confirmed but was rumored to be $20 million in convertible debt.
The big question is, what is the future of J.P. Morgan’s Quorum? All is revealed.
The possibility that J.P. Morgan would spin off Quorum first surfaced in March 2018. The original project leader, Amber Baldet, left the bank the following month to start her own business. At the time, the rumored rationale was a reluctance of rival banks to use it. We wrote of a lack of fit of an open source project used in numerous sectors outside of finance, and the need to provide enterprise support.
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