Wall Street mega-bank JPMorgan has co-developed a private, permissioned version of the ethereum network.
The project, presented during a meeting of the Hyperledger technical steering committee last month, was recently demonstrated during the Sibos convention in Geneva.
Called Quorum, the platform was developed in partnership with ethereum startup EthLab, and it is one of the first projects to come out of a working group within the bank known as the Blockchain Center of Excellence.
Amber Baldet, program lead for the division, explained that JPMorgan is now looking to open source its blockchain technology work in order to get more developers involved.
“One of our goals in working with an open-source platform and contributing our work back is to encourage collaboration and innovation. The more people that get involved, the faster we will see adoption challenges addressed and the more robust the system will become.”
In tandem with the development of Quorum, Baldet said JPMorgan created a software development kit (SDK) aimed at encouraging developers to create applications.
Notably, Quorum is the second major blockchain-inspired offering to come out of the JPMorgan’s technology labs. Earlier this year, the bank showcased Juno, a project it called a “distributed crypto-ledger” that was designed to enable quick value transfers between network parties.