ConsenSys and AMD work together to develop blockchain-based cloud computing


Both AMD and ConsenSys have what some describe as a tough race during the 2018 cryptopus market. The first has seen stock price fall by 40% over the last four months while the latter has lost staff and downsizing.

However, a new partnership could bring life back into the two companies before the crypto markets start to recover. The collaboration between the solution provider Ethereum, the microchip manufacturer and the investment management company based in the United Arab Emirates, Halo Holdings, aims to develop a blockchain-based cloud computing infrastructure.

According to the official press release, companies have established W3BCLOUD to develop data center solutions optimized for emerging blockchain workloads. By leveraging AMD's hardware expertise and the experience of ConsenSys blockchain software, the duo plans to design systems for applications for governments and commercial enterprises, while accelerating the adoption of decentralized applications (dApps).

According to the W3BCLOUD version, it will be the first independent blockchain cloud computing substructure to meet public and private sector requirements. There was little detail in the involvement of Halo Holdings, apart from the fact that it is an investment management company based in Abu Dhabi with "large-scale technology transactions and private equity investments in Asia, Europe, North America and the Middle East ".

The founder of Consenys and co-creator of Ethereum, Joseph Lubin, said;

"Strengthening the computing power of blockchain networks with AMD's state-of-the-art technology will be of great benefit to the scalable adoption of emerging decentralized systems worldwide.The combination of hardware and software will fuel a new level infrastructural and will allow an accelerated proliferation of blockchain technologies ".

The new company could make ConsenSys reflect twice on the dismissal of 50% of its employees. Joerg Roskowetz, director of AMD's blockchain product and technology management, added;

"We are excited to work with Consensys and provide them with access to high-performance hardware technologies that can scale and proliferate decentralized networks and services to meet the growing interest of large companies and governments seeking to address challenges ranging from 39. Intelligent identity to company data: detection of health centers and cards, licensing and supply chain management "

In November, AMD still had ambitions towards encryption and blockchain when it collaborated with a number of hardware companies, including ASUS, MSI and Biostar, in order to produce new GPU-based mining rigs according to the official website. However, quarterly revenue and share price declined as the encryption interests decreased while crypto markets fell to their annual lows.

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