Ethereum finally got the ‘seal of approval’ from JP Morgan executives when the ETH foundation reaffirmed its plan to further develop an enterprise version of Ethereum – Quorum ecosystem. The ecosystem has been designed to aid any application that demands high computing and processing power to execute the tasks on daily basis.

With the passage of time, Quorum has got more supporters than before, one of them being from the team of JP Morgan itself – Umar Farooq, Head of JPs Blockchain Initiatives. As per the industry insiders, he is praising high about Ethereum’s recent move of tokenizing gold bars in custody of various financial institutions. Adding further he stated that the Blockchain-tagged gold bars are easy to trace from the mining point to their destination, making them value higher than the bars having no trace history.

On the other hand, his impression about Ethereum is opposite to CEO Jamie Dimons’ opinion who has repeatedly criticized the presence of Bitcoin and other similar Altcoins in the market. In one of his recent interview, he stated that he is more concerned about the Blockchain technology which is worth exploring than Bitcoin. He is also of the opinion that the industry should focus more on the technology rather on the crypto assets.