50+ Projects Building on J.P. Morgan’s Quorum Blockchain

Check out these projects using Quorum’s private/permissioned blockchain!

Matt Wright
Aug 8, 2019 · 10 min read

Quorum is a a fork of Go Ethereum client (geth), designed to process private transactions with a permissioned group of known participants. Developed and maintained by J.P. Morgan, Quorum is an open-source blockchain platform built to addresses specific challenges to blockchain adoption within an enterprise environment such as privacy, speed, throughput.

Private blockchains like Quorum are useful when you have an organization or industry problem that consists of geographically distributed members of a network, spotty trust between these members, and no reason or need for central control. We typically see this with multi-party and multi-organizational decision making via multi-signature contracts in the form of distributed trust. It is also super useful for real-time auditing, operational transparency, and data integrity uses. The most common use-cases, which you’ll see in the list below, are with asset or supply chain systems.

Now, please note that these range from proof of concept to production ready and are not all officially recognized. This is a list of information that is publicly available online. As Quorum is an open-source project, not all use-cases are listed. If you’re building with Quorum, please submit your Quorum project here to be considered for this featured post.

[Updated January 2020]

1. Banking & Finance

Photo by Didier Weemaels on Unsplash

Tokenized Cash

  • JPM CoinInstant settlement of transactions between clients of the bank’s wholesale payments business
  • IHS MarkitQuorum blockchain-based system to handle the payments leg of syndicated loan trading — and eventually, a wider range of financial transactions.

Interbank payments with Central Banks

  • Project UbinMonetary Authority of Singapore, J.P. Morgan and many other industry leaders are exploring the use of Blockchain and Distributed Ledger Technology (DLT) for clearing and settlement of payments and securities. MAS announced during its 5th Phase on 11 November 2019, the successful development of a blockchain-based prototype that enables payments to be carried out in different currencies on the same network using Quorum.
  • Project KhokhaSouth African Reserve Bank selected a Quorum blockchain-based system for interbank clearance and settlement

Commercial Bank Payments

  • AdharaA real time, multi-currency global liquidity management and international payments platform based on tokenized money over a smart contract-enabled distributed ledger.

Central Bank/ State Agency Data Exchange

  • Brazil Central BankAlternative settlement system for enhanced resilience. Also — facilitating data exchange with other institutions, such as the private insurance regular (Susep), the securities commission (CVM), and the pension authority (Previc)

Sanctions Info Sharing

  • Interbank Information Network (IIN) — J.P. Morgan, ANZ, RBC, and 300+ additional banks aim to minimize friction in the global payments process, enabling payments to reach beneficiaries faster and with fewer steps. By leveraging Quorum’s blockchain, IIN reduces the time correspondent banks currently spend responding to compliance and other data-related inquiries that delay payments.

Marketplace for Loans

  • SkepsA blockchain marketplace that facilitates unsecured loans (formerly SteamSource Technologies).

Debt Issuance

  • National Bank of Canadatested a new blockchain platform for issuing financial instruments with the National Bank of Canada and other large firms seeking to streamline origination, settlement, interest rate payments and other processes.

Trade Finance

  • KOMGOChanging the way financiers transact with clients and other parties in the ecosystem. Apart from improving the speed of conducting transactions, benefits include the ability for all parties to monitor the operation’s progress in real time, easy data verification, reduced risk of fraud, as well as a shorter cash cycle.

Proxy Voting

  • AGM on BlockchainSantander, Broadridge, Northern Trust, and J.P. Morgan aiming to improve AGM voting transparency between issuers and investors

Commodity Post-Trade Processing

  • VAKTUpgrading the paper-based trading process of the oil and gas energy value chain to solve trapped data, risk of fraud losses, and lower operating costs. Vakt is built on Quorum blockchain and created by an industry consortium including Shell, BP, ABN Amro, ING, and Societe Generale.
  • Covantis — Archer Daniels Midland Company, Bunge, Cargill and Louis Dreyfus Company officially launch Covantis to replace legacy post-trade processes to improve agricultural trade, unlocking significant value for all players across the supply chain with J.P. Morgan’s Quorum. The current post-trade processes are repetitive, manual, costly and time-consuming. Covantis aims to make the contract execution process more efficient, accurate and transparent.

Supply Chain Finance

Ledger System for Audit

  • Block Ledger (formerly Ledgerium) a decentralized accounting ledger system, Blockchain as a Service (BaaS), which rationalizes debtors and creditors by putting the hash on to blockchain to allow verifying authenticity and provide proof of the occurrence, completeness, accuracy, cut-off of all the transactions. This is especially useful for e-invoicing, account reconciliation, audit trail and transparency, credit and risk Scoring, Financial Documentation, legal documentation, and invoice financing and factoring.

Capital Market Data

  • DrumG/Titanium NetworkDecentralized, anonymous and cryptographically secured consensus pricing network for OTC market data built on next-generation Ethereum for investment bank trading and valuation operations.

Digital Assets

  • LiquefyEnables digitization of assets such as private companies, public shares, funds, real estate and any other assets using blockchain

Digital Gold

  • BiGA Project—Turkish Takasbank launched BiGA Digital Gold to provide banks with a blockchain-based system for the issuance, repayment and transfer of digitized gold. Using Quorum, they enable participating banks to use blockchain tech to transfer digital assets representing a quantity of physical gold. Each asset represents a gram of gold that is physically stored in vaults of the Borsa Istanbul (BIST) Turkish stock exchange.

Institutional Trading

  • 9th GearA marketplace where institutional traders and lenders come together for faster, more secure and lower risk trades that are open to vastly more participants.

2. Insurance

Photo by Sarah Brown on Unsplash

Insurance Claim Subrogation

  • State Farm + USAAUsing blockchain to automate the time-consuming and paper-heavy processing of automobile claims by replacing existing systems for subrogation.

3. Supply Chain

Photo by chuttersnap on Unsplash

Supply Chain Tracking

  • Easy Trading ConnectLouis Dreyfus, ING, Shandong Bohi Industry Co., Ltd (Bohi), Societe Generale and ABN Amro successfully completed the first full agricultural commodity transaction on Quorum blockchain via soybean shipment tracking.
  • SUKUIndustry agnostic supply chain solution powered by blockchain
  • StarbucksImplementing Microsoft’s Azure Blockchain Service and Quorum to track coffee production
  • EximchainProtocol for scalable, public blockchain networks with privacy for enterprise supply chain applications. Eximchain enables businesses to connect, transact, and share information more efficiently and securely.

Verifying Authenticity of Luxury Goods

  • LVMHOwner of the iconic Louis Vuitton label, prepares to launch a blockchain for proving the authenticity of high-priced goods

Gold Bar Tracking

  • Chronicled Headed by Emergent, Chronicled is a blockchain-secured IoT solutions by demonstrating how both a deed of title and a bar of gold, secured with tamper proof form factors protecting NFC PKI identity chips, are registered to a Quorum blockchain.

Auto Inventory Tracking

  • Chase Auto — J.P. Morgan’s wholesale car financing arm, Chase Auto, is using Quorum for floor-plan lending, a revolving line of credit that allows car dealers to borrow against retail inventory. The current industry problem is that floor-plan lending process involves periodically doing a physical inspection or audit of all the inventory on the dealership’s lot. With 17 million new cars sold each year in the U.S, and when you add in used vehicles there are many millions sitting on floor-plan lines of credit. Tracking them on Quorum will achieve cost savings over time.

4. Healthcare

Photo by Piron Guillaume on Unsplash

Healthcare Provider Data

  • Synaptic Healthcare AllianceIndustry-wide database of healthcare providers for patients tackling the high cost of healthcare provider data management, testing the premise that administrative costs and data quality can be improved by sharing provider data inputs and changes made by different parties across a blockchain.

5. Media & Entertainment

Photo by Florian Olivo on Unsplash

Rights Management

  • Xbox Video Game RoyaltiesMicrosoft and Ernst & Young are working on a blockchain solution expected to reduce processing time and faster tracking of royalties first in the video game industry. Their goal is to increase trust and transparency between industry players, significantly reduce operational inefficiencies in the rights and royalties management process, and eliminate the need for costly manual reconciliation and partner reviews.
  • Bloomen.io— Building on top of Quorum’s blockchain for different media transactions and develop concepts related to creative content items, distribution, personalization, monetization and copyright management.

Gaming

  • Kame.gg — a platform that empowers creators with new tools to deepen audience engagement. It adds new incentives and monetization opportunities by integrating tokens on Quorum blockchain into platforms like Twitch, Discord, and online video games.

Content Verification

  • Blockone IQ — Media giant Thomson Reuters is opening up its data to smart contract authors building on private versions of the Ethereum blockchain to leverage accurate data about share prices, exchange rates, financial benchmarks and more.

6. Professional Services & Legal

Photo by Carlos Muza on Unsplash

Automated Service Contracts

KCS Enterprise — Blockchain based IT managed services platform. KCS enables buyers and suppliers to automate IT managed services contracts through contract execution, order management, and financial settlement.

7. Government & Public Sector

Photo by Jesse Collins on Unsplash

National Network

  • AlastriaThe world’s first regulated blockchain ecosystem is a non-profit ecosystem comprising of over 70 Spanish firms including BBVA, Santander, Telefonica, University of Girona, University of Malaga, and the University of Valencia among others. Red Alastria is what the Blockchain Infrastructure is called and ID Alastria is their digital identity standard.

8. Digital Identity

Photo by Lukenn Sabellano on Unsplash

Mobile Identity

  • Uqudo — enables customers to onboard physical ID documents (e.g. Passports) and existing digital IDs to their phone. NFC and Biometrics are used to verify the personal data and the person, and Quorum ensures the integrity of both the onboarded documents and the digital IDs. It enables customer to user their phones to consume services from Service Providers such as open a bank account online (KYC), apply for telecommunication services, and shop online with a real Identity (e.g. Age Verification).

9. Travel & Hospitality

Photo by Daniel Lim on Unsplash

Retail

EMR — Burj Khalifa owner, Emaar, launches platform that will reward customers EMR tokens for their loyalty and business referrals. Tokens can be redeemed for Emaar’s real estate, hotels, e-commerce operations and malls, as well as traded with other users.

Airlines Refund Payout

  • TravacoinDigital payment system built on blockchain which enables airlines to refund and compensate passengers in a timely manner when a disruption occurs

Real-time Toll Road Settlement

  • Project VentoOaken Innovations, Brisa, A to Be, and Via Verde produced a blockchain powered automotive commerce platform, using tolling as the first application. Assuming future automobiles are enabled with blockchain-powered identity and connected devices, they integrated RFID and a mobile application that directly communicates with their blockchain platform on Quorum/ Ethereum. From IoT device to e-wallet, they can securely process real-time toll road transactions in an instant whereas it typically takes months.

10. Platforms, Integrations & Education

Photo by Max Nelson on Unsplash

Network Management

Dev Environments and Tools

  • Truffle SuiteDevelopment environment, testing framework and asset pipeline for blockchains using the Ethereum Virtual Machine (EVM)
  • Comae TechnologiesBlockchain analysis of implementation and security

Infrastructure and Cloud

  • SAPCloud deployment and hosting for Quorum
  • KaleidoCloud platform for building and running enterprise blockchain solutions
  • Azure Blockchain ServiceMicrosoft’s Azure Managed blockchain service and cloud hosting provides Quorum consortium setup
  • ChainstackManaged blockchain services making it simple to launch and scale decentralized networks and applications — complete with an intuitive user interface, seamless orchestration, and predictable pricing. Chainstack offers enterprise-grade tools and services that empower developers, solution providers, and consortia to safely experiment and run in production. By building on Chainstack, you reduce the time, cost, and risk involved with leveraging decentralized technologies. With a secure API, membership management, and flexible deployment options, you can immediately accelerate and future-proof your development of transformative solutions.
  • BlockdaemonInfrastructure and testing provider where you can deploy in a few steps, decentralize your infrastructure with multiple cloud providers, white-label your own control panel and integrate existing systems or APIs.

Enterprise Solutions

  • BlockTESTDevelops and optimizes blockchain solutions to enhance the flow of goods, data and finances.
  • LayerXTechnical consulting, proof of concept development, reporting, security auditing and blockchain integration targeting Japanese market.
  • ProofSuiteFinancial technology research and development
  • BSOS — BridgeX Middleware Technology for Enterprise-level Blockchain Solution connecting business data and blockchain.

Blockchain Explorer

Interoperability

  • NetethereumNethereum is the .Net integration library for Ethereum, simplifying the access and smart contract interaction with Ethereum nodes both public or permissioned like Geth, Parity or Quorum.

Education

  • B9 LabB9lab was one of the first to come out with a quality online training course for aspiring Ethereum developers back in 2016. Today, their global learning community has grown to more than 13,000 students in 125 countries and certification program is among the most reputable in the blockchain space.
  • BlockmaticsTheir goal is to help individuals and organizations leverage the power of blockchain technology through education, research and professional training.

Matt Wright

Written by

Community @GoQuorum | Building decentralized communities in the blockchain ecosystem

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