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

Check out these projects using and/or building on Quorum’s private/permissioned blockchain!

Quorum is 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 reach out to our team via email to be considered for this featured post — info@goquorum.com.

[Updated July 2020]

1. Banking & Finance

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Tokenized Cash

• JPM Coin — Instant settlement of transactions between clients of the bank’s wholesale payments business
• IHS Markit — An immutable digital ledger of all cash movement in the Financial Services Industry. Quorum blockchain-based system to handle the payments leg of syndicated loan trading — and eventually, a wider range of financial transactions. This system of smart contracts and wallets, known as Stax, is designed to eliminate the last mile of wire transfers, where each transaction has its own wire.

Interbank payments with Central Banks

• Project Ubin — Monetary 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 Khokha — Central banks need an innovative way to increase the resiliency of interbank payment systems while maintaining or reducing the overall cost of those systems. South Africa Reserve Bank created a simulation to assess if the performance, scale, and confidentiality of payments were possible utilizing blockchain technology. SARB used Quorum’s blockchain for interbank clearance and settlement and was able to settle the country’s typical 70,000 daily payment transactions within two hours, taking an average of 1–2 seconds for each transaction.

Commercial Bank Payments

• Adhara — A 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 Bank —Blockchain-based platform called “Pier”, to facilitate data exchanges with other institutions, such as the private insurance regulator (Susep), the Securities Commission (CVM) and the pension authority (Previc). Pier replaces a manual process under which a person from one institution would directly contact their peer in another, by e-mail for instance, to get information.

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

• Skeps — A blockchain marketplace that facilitates unsecured loans (formerly SteamSource Technologies).

Debt Issuance

• National Bank of Canada — tested 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

• KOMGO —Commodity trading and financiers have been plagued with tedious paper trails which could take months to complete. Komgo enables real-time monitoring by multiple parties, and the exchange of documents in a digital, secure and decentralized manner. 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 Blockchain — Santander, Broadridge, Northern Trust, and J.P. Morgan aiming to improve AGM voting transparency between issuers and investors

Commodity Post-Trade Processing

• VAKT — Upgrading 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

• BSOS — Supply Chain Finance Platform — A blockchain platform where suppliers can apply for accounts receivable financing to banks with the invoices confirmed by buyers.

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 Network — Decentralized, 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

• Liquefy — Enables 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 Gear — A 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

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Insurance Claim Subrogation

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

3. Supply Chain

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Supply Chain Tracking

• Easy Trading Connect— Louis 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.
• SUKU — Industry agnostic supply chain solution powered by blockchain
• Starbucks — Implementing Microsoft’s Azure Blockchain Service and Quorum to track coffee production
• Eximchain — Protocol 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

• LVMH — Owner 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 the 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

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Healthcare Provider Data

• Synaptic Healthcare Alliance — Industry-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

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Rights Management

• Xbox Video Game Royalties — Microsoft 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

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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

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National Network

• Alastria— The 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

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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

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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

• Travacoin — Digital 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 Vento — Oaken 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, Tools, APIs

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Network Management

• Synechron — Quorum Maker — A tool that allows users to create and manage a Quorum network.
• Quorum Network Manager— Create and manage Quorum networks.

IDEs, Smart Contract Tools, Libraries

• Truffle Suite — Development environment, testing framework and asset pipeline for blockchains using the Ethereum Virtual Machine (EVM)
• Comae Technologies — Blockchain analysis of implementation and security

Infrastructure and Cloud

• Quorum on SAP Cloud — Cloud deployment and hosting for Quorum
• Kaleido — Cloud platform for building and running enterprise blockchain solutions
• Azure Blockchain Service — Microsoft’s Azure Managed blockchain service and cloud hosting provides Quorum consortium setup
• Chainstack — Managed 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. Here’s a video of how to deploy Quorum with Chainstack!
• Blockdaemon — Infrastructure 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.
• BlockTest Greenhouse—An integrated toolbox for blockchain DevOps, an automated middleware development platform as a service, so that you can build audible blockchain applications in a streamlined way and on consistent sets of architectural plumbing principles, knowing you can scale to serve and protect millions of client users.

Blockchain Explorer, Data Analytics

• Web3 Labs (formerly blk.io) — Deployment, management and development of blockchain platform and smart contract development.
• Quorum Splunk App—The new Splunk App for Quorum gives you insight into your blockchain infrastructure built on Quorum, and with it, you will get the building blocks and dashboards necessary to obtain visibility and monitoring of Quorum node logs, metrics and transaction analytics from the distributed ledger and surrounding infrastructure!

Interoperability

• Netethereum — Nethereum 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.
• Cordage—Cordage makes the interoperability possible between Corda and other Blockchains by providing several modules that propagate, pull and verify information between Blockchains without further trusted third party. In the first stage, we focus on EVM based blockchain such as Ethereum, Quorum and Hyperledger Besu.

APIs, Middleware and Extensions

• Quorum Blk Explorer— Deployment, management, and development of blockchain platform and smart contract development by Web 3 Labs.
• Epirus Free—Epirus Blockchain Explorer for Quorum and Ethereum which supports viewing private transactions by Web 3 Labs.
• web3j-quorum—an extension to web3j providing support for JP Morgan’s Quorum API. It’s lightweight, reactive, type safe Java library for integrating with clients (nodes) on distributed ledger or blockchain networks.
• ERC-20 REST Service—ERC-20 token standard RESTful service Quorum demo
• BSOS — BridgeX — Middleware Technology for Enterprise-level Blockchain Solution connecting business data and blockchain.

11. Support

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Enterprise Solutions

• BlockTEST — Develops and optimizes blockchain solutions to enhance the flow of goods, data and finances.
• LayerX — Technical consulting, proof of concept development, reporting, security auditing and blockchain integration targeting Japanese market.
• ProofSuite — Financial technology research and development

Education

• B9 Lab — B9 Lab 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.
• Blockmatics — Their goal is to help individuals and organizations leverage the power of blockchain technology through education, research and professional training. New Quorum course coming soon!
• BlockGeeks—Check out “What Is Quorum Blockchain? A Platform for The Enterprise”. You can also find more helpful articles around Blockchain, Ethereum and Enterprise Ethereum, here!

To get started with Quorum, check this out!

Matt Wright

Community Lead, Quorum

*These are my personal views and not the views of my employer*