New York, October 17, 2017 – The Zerocoin Electric Coin Company and J.P. Morgan today announced the integration, and initial release of, zero-knowledge security layer (ZSL) technology on Quorum, J.P. Morgan’s enterprise, smart contract blockchain platform. The combination further unlocks the potential of blockchain technology for enterprise use cases.
“The momentum that is growing behind enterprise blockchain adoption is one of the most exciting trends in technology,” said Zooko Wilcox, CEO of The Zerocoin Electric Coin Company. “This latest development ensures confidentiality, while supporting regulatory disclosure, both of which are key requirements for financial industry applications.”
J.P. Morgan and the Zerocoin Electric Coin Company announced a technology partnership earlier this year in an effort to combine talents in developing distributed ledger financial technology. Microsoft has also lent its support to the effort. All three companies are members of the Enterprise Ethereum Alliance.
“Today’s announcement is a prime example of how big banks and fintechs can work side-by-side to build ground breaking technology for the financial markets,” said Umar Farooq, head of Blockchain Initiatives at J.P. Morgan.
“The implementation of ZSL for Quorum represents an important application of zero-knowledge proofs to the challenge of building a distributed trust infrastructure for enterprises” says Marley Gray, Principal Program Manager for Blockchain at Microsoft. “I expect that this is merely the first of many applications for this exciting technology.”
The ZSL technology is being released as open source software, meaning that interested organizations can immediately download and begin experimenting with it to assess its capabilities and suitability for specific use cases.
J.P. Morgan and the Zerocoin Electric Coin Company will continue to work with the broader enterprise blockchain community to integrate their feedback and ideas into future versions.
Zerocoin Electric Coin Company Media Contact: [email protected]
About The Zerocoin Electric Coin Company
The Zerocoin Electric Coin Company is a science-driven team; a combination of academic expertise in computer science and cryptography with security software engineering talent. We are developing the next generation of secure digital currency and blockchain technology through the use of zero-knowledge proofs, to guarantee privacy and confidentiality. More information on Zerocoin Electric Coin Company and the Zcash protocol is available at https://z.cash.
About J.P. Morgan’s Corporate & Investment Bank
J.P. Morgan’s Corporate & Investment Bank is a global leader across banking, markets and investor services. The world’s most important corporations, governments and institutions entrust us with their business in more than 100 countries. With $22.7 trillion of assets under custody and $421.6 billion in deposits, the Corporate & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world. Further information about J.P. Morgan is available at www.jpmorgan.com.