Jordan algebras are non-associative algebras satisfying a somewhat strange (to me) list of axioms, see wikipedia. Basic examples are real symmetric and complex hermitian matrices with the product $A\circ B=\frac{1}{2}(AB+BA)$. According to the above article in wikipedia P. Jordan introduced this notion in 1933 to formalize the notion of an algebra of observables in quantum mechanics.
Question 1. Did this operation become really useful in quantum mechanics in any non-trivial way?
Question 2. I would be happy to see some explanations why the notion of Jordan algebra is useful/ natural. Are there applications of it to other parts of mathematics?
Here are very few interesting facts I was able to find so far.
1) There is a really beautiful classification of the finite dimensional formally real Jordan algebras due to Jordan, von Neumann & Wigner (1934).
2) The above wikipedia paper mentions a classification of some special class of infinite dimensional Jordan algebras (Zelmanov, 1979).
3) I have recently heard about the Koecher-Vinberg classification of symmetric cones: such cones are precisely cones of squares in Euclidean Jordan algebras.
Thus the only way I heard Jordan algebras are related to other parts of mathematics is via the classification lists of various subclasses of them.