Permainan judi slot online terbaik

slot hoki terpercaya

  • About
  • Contact
  • Privacy Policy
  • bitcoinBitcoin$22,963.00-1.02%
  • ethereumEthereum$1,652.74-0.71%
  • xrpXRP$0.399321-0.69%
  • bitcoin cashBitcoin Cash$130.99-3.18%
Cryptovibes.com - Daily Cryptocurrency and FX News
  • Home
  • News
  • Analysis
  • Crypto
    • Tamadoge
    • Crypto Presales
  • Autotrading
    • BitVestment
    • BitProfit
    • Bit Index AI
    • Metaverse Profit
    • Today Profit
    • Quantum Code
    • Bitcode Prime
    • Bitprime Gold
    • Bitcoin Motion
    • Bitcoin Smarter
    • Bitcoin Robot Guide
    • Bitcoin Future
    • Bitcoin Millionaire Pro
    • Bitcoin Pro
    • BitiCodes
    • Bitcoin Loophole
    • Bitcoin Up
    • Bitcoin Storm
    • Bitcoin SuperSplit
    • Bitcoin Supreme
    • TeslaCoin
    • Bitcoin System
    • Bitcoin Fortress
    • Immediate Edge
    • Bitcoin Profit
    • Bitcoin Trader
    • Bitcoin Bank
    • Bitcoin Union
    • BitQT
    • Bitcoin Prime
    • Profit Compass
    • Bitcoin Champion
    • Bitcoin Optimizer
    • NFT Profit
    • Bitcoin Decoder
    • PBN Invest
    • Quantum AI
    • Celebrities
      • Teeka Tiwari Investment plan
      • Kate Winslet Bitcoin
      • Holly Willoughby Bitcoin
      • Ant McPartlin Bitcoin
      • Nicole Kidman Bitcoin
      • James McAvoy Bitcoin
      • Jim Davidson Bitcoin
      • Peter Lim Bitcoin
      • Jonathan Ross Bitcoin
      • Bear Grylls Bitcoin
      • Phillip Schofield Bitcoin
      • Mike Hosking Bitcoin
      • Ryan Reynolds Bitcoin
      • Dick Smith Bitcoin
    • Broker Reviews
      • Herdos Review
      • FXTB Review
  • Disclaimer
  • PR
No Result
View All Result
Cryptovibes.com - Daily Cryptocurrency and FX News
No Result
View All Result

JPMorgan’s Quorum Is The Ideal Blockchain Answer To Privacy Needs

John Wanguba by John Wanguba
May 28, 2021
in Analysis, Blockchain, Opinion
Reading Time: 9min read
Rate this post

Quorum offers the infrastructure for a majority of the new financial projects enabled by its unique features and a partnership with Microsoft Azure. Blockchain is expected to do to banks what the internet did to the media, according to a claim by Harvard Business Review.

Blockchain technology can solve many of the problems that currently affect banks and other financial organizations. This technology has almost all of the attractive and beneficial characteristics required for operation by a reliable technology that involves money. It is secure, safe, transparent, decentralized, and relatively cheaper.

EPS 10. Blockchain technology background. Cryptocurrency fintech block chain network and programming concept. Abstract Segwit.

Additionally, blockchain technology has potential in financial services to make the space more efficient. Its potential is considerable and has multiple applications that include capital markets, payments, investment, trade services, wealth management, and securities and commodities exchanges.

Experts believe that blockchain might turn out to become a key driver for enabling businesses to save vast sums of money. But, most of the blockchain platforms get disqualified as a result of one primary condition that is crucial in the financial industry; privacy.

Opportunities

The nature of financial data makes financial institutions and banks primary targets of data breaches, and having client data on a transparent blockchain will not do. JPMorgan identified this problem and started developing a blockchain protocol that could be transparent and immutable without having to reveal all the details of any transaction recorded on the ledger.

Most of the significant enhancements for enterprise and permissioned use cases are based around the Ethereum protocol. That has offered Quorum a lot of flexibility with the way user privacy is protected. The integration of the use-case-driven development with resource-rich and experienced leadership has created many opportunities for the permissioned blockchain protocol.

3D Illustration Blockchain Technologie

Utilizing Quorum will enable businesses to mitigate the requirement for manual interventions in amending, aggregating, and sharing data. Also, it will help with regulatory reporting, with audit documentation becoming easier and needing manual processing.

In that context, employees can put their efforts on only the value-added activities. Post-trade settlement and reconciliation are good examples of expensive and time-consuming processes. By using blockchain, financial institutions can entirely redesign these processes.

Microsoft Leads In Cloud Adoption And Distribution

It appears like quite a few understand what the enterprise clients need better than Microsoft Azure. Azure has adopted Quorum as one of the integral pieces of its Blockchain-as-a-Service platform known as Azure Blockchain Services. In 2019, the engineering team worked on upgrading the Quorum privacy infrastructure as the protocol moved from a privacy engine that was written to Haskell to a larger version written in Java.

That enables users to encrypt and decrypt private transactions and send them between nodes in the network. That new privacy engine operated as the primary standard for Azure’s managed blockchain service. So far, the result is positive. Quorum’s blockchain protocol and Azure’s cloud platform are the underlying technologies that power Brazil’s new financial clearinghouse.

Decentralize future business innovation blockchain technology token money bank bitcoin. Trust Safe fintech clouds security crypto for digital ai supply chain smart contract transaction protection

This May, the Central Bank of Brazil unveiled the project. That project is a significant demonstration of how private blockchain protocol can minimize costs while simultaneously decreasing the use of paper-based legacy financial systems. Interestingly, they are not the only adopters of Quorum technology.

How Is Quorum Getting Utilized?

Since the technology has JPMorgan as its main supporter, most of Quorum’s existing deployments operate within the financial sector. In most cases, projects in the blockchain industry base their development activities on technical benchmarks like speed and scalability. Then, they struggle to get real users and clients after their launch.

Through the development of Quorum, JPMorgan avoided these challenges. Quorum was designed with the financial sector in mind providing the Ethereum-based network with an easy avenue from conceptualization to real-life deployment.

European telecommunication network connected over Europe, France, Germany, UK, Italy, concept about internet and global communication technology for finance, blockchain or IoT, elements from NASA

Although it is extensively used in the financial sector, Quorum has proved itself as quite versatile. The permissioned chain has been featured in other industries where speed, privacy, and reliability are considered more desirable than entire public transparency.

Notably, other industries are striving to adopt the blockchain infrastructure. Some of the notable names advancing into the blockchain space include LVMH, Xbox, SAP, State Farm, Starbucks, Kaleido, among others.

More Opportunities and Lessons Learned

The permissioned blockchain sector has intense competition. Hyperledger Fabric and R3 Corda share most of the advantages that Quorum has. In the case that Quorum can leverage its vast connections in the financial space, it can offer them significant enhancement in adoption, in turn, bringing developers nearer to the project.

But, the primary aim of blockchain technology is to connect and integrate multi-industry ecosystems. Quorum can do that by focusing on interoperability. Since its code is based on Ethereum, many opportunities arise to develop links with the public blockchain industry.

Hence, hybrid networks can be created where the consumer-facing data can be stored on the public Ethereum network. The more private data in this context remains on the permissioned Quorum nodes.

Block chain concept - Chain of network connections . 3d rendering

Some of the notable Quorum use cases like commodity markets and trade finance are perfect examples of the sectors where both the permissionless and permissioned blockchains could work in parallel networks.

Quorum appears to be solving a significant challenge with existing protocols by including reasonable privacy and permissioning features. It also offers support for enterprise-focused Raft and IBNT consensus algorithms operating on top of the Ethereum codebase.

Most of the other blockchain vendors can learn something valuable from all of this; the design of a solution must be essentially aligned with the business use case it aims to fulfill.

A blockchain enterprise with a one-size-fits-all approach to infrastructure will strive to get business users willing to get on board. Some of the key players like JPMorgan will play a significant role in getting such users while simultaneously attracting other major tech projects like Microsoft Azure to work together with.

Like what you're reading? Subscribe to our top stories
Tags: BitcoinBlockchainblockchain analysisBusinessEthereumEthereum blockchainhyperledger fabricJPMorganKaleidoLVMHMicrosoftMicrosoft Azurepermissioned blockchainPrivacyQuorumR3 CordaSAPStarbucksState FarmTechnologyXbox

Related Posts

Exxon Beats Western Oil majors' Profits With $56B In 2022
Crypto news

Exxon Beats Western Oil majors’ Profits With $56B In 2022

February 3, 2023
Alameda Research Wallet Gets $13M From Bitfinex And Other Sources
Crypto news

Alameda Research Wallet Gets $13M From Bitfinex And Other Sources

February 3, 2023
Chinese Chipmakers Entangled In U.S.-China Tech Feud
FX Industry

Chinese Chipmakers Entangled In U.S.-China Tech Feud

February 3, 2023
Facebook Twitter Instagram Telegram RSS Youtube

Newsletter

Like what you're reading? Subscribe to our top stories
situs qq online terpercaya
probola
Menyajikan live score bola terkini
www.jamberrynails.net
adtoken.com
Agen bola
judi online slot
daftar judi slot terbaru
situs BandarQQ Online
Situs judi online Terpercaya
poker online
judi bola
slot pragmatic
situs judi bola
situs judi bola
pragmatic play
judi bola
Situs Slot TOS885

Copyright © 2017-2019 Cryptovibes.com. Price data provided by our official partner CoinGecko.

No Result
View All Result
  • Home
  • News
  • Analysis
  • Crypto
    • Tamadoge
    • Crypto Presales
  • Autotrading
    • BitVestment
    • BitProfit
    • Bit Index AI
    • Metaverse Profit
    • Today Profit
    • Quantum Code
    • Bitcode Prime
    • Bitprime Gold
    • Bitcoin Motion
    • Bitcoin Smarter
    • Bitcoin Robot Guide
    • Bitcoin Future
    • Bitcoin Millionaire Pro
    • Bitcoin Pro
    • BitiCodes
    • Bitcoin Loophole
    • Bitcoin Up
    • Bitcoin Storm
    • Bitcoin SuperSplit
    • Bitcoin Supreme
    • TeslaCoin
    • Bitcoin System
    • Bitcoin Fortress
    • Immediate Edge
    • Bitcoin Profit
    • Bitcoin Trader
    • Bitcoin Bank
    • Bitcoin Union
    • BitQT
    • Bitcoin Prime
    • Profit Compass
    • Bitcoin Champion
    • Bitcoin Optimizer
    • NFT Profit
    • Bitcoin Decoder
    • PBN Invest
    • Quantum AI
    • Celebrities
      • Teeka Tiwari Investment plan
      • Kate Winslet Bitcoin
      • Holly Willoughby Bitcoin
      • Ant McPartlin Bitcoin
      • Nicole Kidman Bitcoin
      • James McAvoy Bitcoin
      • Jim Davidson Bitcoin
      • Peter Lim Bitcoin
      • Jonathan Ross Bitcoin
      • Bear Grylls Bitcoin
      • Phillip Schofield Bitcoin
      • Mike Hosking Bitcoin
      • Ryan Reynolds Bitcoin
      • Dick Smith Bitcoin
    • Broker Reviews
      • Herdos Review
      • FXTB Review
  • Disclaimer
  • PR

Copyright © 2017-2019 Cryptovibes.com. Price data provided by our official partner CoinGecko.

Situs sbobet resmi terpercaya. Daftar situs slot online gacor resmi terbaik. Agen situs judi bola resmi terpercaya. Situs idn poker online resmi. Agen situs idn poker online resmi terpercaya. Situs idn poker terpercaya.

situs idn poker terbesar di Indonesia.

List website idn poker terbaik.
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.