ConsenSys, AMD Partner to Create Blockchain Based Cloud Computing Framework
Both AMD and ConsenSys had what some would call a bumpy ride in the 2018 crypto bear market. The former saw stock prices plunge by 40% in the most recent four months, while the latter dropped staff and scaled down.
However, a recent joint venture could stir interest in the companies before crypto markets recuperate. The collaboration between ConsenSys, the Ethereum solutions provider, AMD, the microchip manufacturer, and the investment management company Halo Holdings based in the United Arab Emirates is intended at creating a cloud computing framework based on blockchains.
According to the official press release, the W3BCLOUD companies have created perfected data center solutions for fresh blockchain workloads. By leveraging the hardware proficiency of AMD and ConsenSys’ blockchain software knowledge, the team intends to develop applications systems for governments and commercial enterprises, while expediting the implementation of decentralized applications (dApps).
According to the announcement, W3BCLOUD will be the foremost autonomous blockchain cloud computing substructure to match public and private sector necessities. There was slight information about the participation of Halo Holdings apart from the fact that it is an investment management firm headquartered in Abu Dhabi with ‘dealings in large-scale technology and private equity investments covering Asia, Europe, North America and the Middle East.’
Joseph Lubin, ConsenSys founder and Ethereum co-creator, said
“Bolstering the compute power of blockchain networks with AMD’s leading-edge technology will be of great benefit to the scalable adoption of emerging decentralized systems around the globe. The combination of hardware and software will power a new infrastructure layer and enable an accelerated proliferation of blockchain technologies.”
The latest project may make ConsenSys think two times about laying off a reported 50% of its workforce. AMD’s director of product supervision and blockchain technology, Joerg Roskowetz, added;
“We are excited to work with Consensys and provide them with access to high-performance hardware technologies capable of better scaling and proliferating decentralized networks and services to meet the growing interest from large corporations and governments looking to tackle challenges ranging from smart identity, enterprise data centers and health ID tracking, to licensing and supply chain management.”
Back in November AMD still had desire for crypto mining and blockchain when it collaborated with a number of computer hardware companies including ASUS, MSI and Biostar to create new GPU fueled mining plants on the official website. However, its quarterly revenue and stock price declined as cryptographic mining appeal decreased as crypto markets fell to their yearly lows.