Thursday, 24 January, 2019

AMD’s Stock Spikes by 11 Percent After Announcement of Partnership with ConsenSys

Ethereum Studio ConsenSys Teams Up With Chip Manufacturer AMD ConsenSys and AMD Partner to Develop Blockchain Based Cloud Computing
Katie Ramirez | 08 January, 2019, 16:30

In a press release, ConsenSys announced that it the parties will be working together to create W3BCLOUD, an optimized data center solutions for emerging blockchain workloads. Both startups have revealed that they will be collaborating to develop a cloud computing infrastructure that will be based on the Blockchain technology.

Ethereum development studio ConsenSys, semiconductor chip producer AMD and Abu-Dhabi based investment management company Halo Holdings have teamed up in order to build new cloud computing infrastructure based on Blockchain technology. The ecosystem will be powered by the maker's computing hardware crafted especially for enabling decentralized applications. He further added the amalgamation of hardware and software would add a new layer of infrastructure enabling accelerate adoption of blockchain technologies.

ConsenSys will provide expertise on blockchain, the technology powering the world's virtual currency space, in addition, it will enhance W2BCLOUD's security and will thus be a used case for the increased adoption of this technology.

Whereas, as mentioned by Jerog Roskowetz, AMD's director of product management for blockchain technology, AMD would provide ConsenSys with access to "high-performance hardware technologies capable of better scaling and proliferating decentralized networks and services".

So the question now is, would the partnership of three big companies be enough to bring positive development to blockchain technologies?

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The objective is to meet the growing interest from large corporations and governments that are seeking to tackle challenges ranging from smart identity, enterprise data centers and health ID tracking, to licensing and supply chain management, he added.

AMD chips have been popular in running blockchain networks, in particular by retail customers looking to mine cryptocurrencies.

ConcenSys was recently in news for signing a memorandum of understanding with South Korea-based tech firm SK Group.

AMD also entered into a partnership with seven other major technology companies in November previous year to create 8 new cryptocurrency mining rigs. Initiative is focused on building business model of corporate blockchain with the use of smart contracts.

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