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.