JPMorgan & Zcash enhance Blockchain Security
JP Morgan is providing new layer of privacy for blockchain customers
JPMorgan partnered with ZCash to provide a new layer of privacy to users of its enterprise grade Blockchain. JPMorgan and the Zerocoin Electric Coin Company are now in the process of integrating ZSL, a zero-knowledge security layer designed to securely – and anonymously – settle transactions on the blockchain that were previously conducted elsewhere.
Though Quorum already lets enterprises execute privacy-oriented smart contracts, the new zero-knowledge security feature is designed to extend the actual settlement of those transactions onto the blockchain itself.
JP Morgan is leading in the Blockchain space, first with Juno, an early experiment with the technology unveiled at a Hyperledger meeting. By October, the project had evolved into Quorum, an enterprise-grade blockchain designed specifically to let large financial institutions comply with regulatory requirements, especially on the privacy protection front. Quorum is now accepted into Microsoft Azure Blockchain as a service platform.