Wednesday, 16 January, 2019

Consensys Teams Up with AMD for Cloud Computing Blockchain Infrastructure

Ethereum Studio ConsenSys Teams Up With Chip Manufacturer AMD ConsenSys and AMD Partner to Develop Blockchain Based Cloud Computing
Cecil Davis | 08 January, 2019, 16:32

Ethereum development studio ConsenSys is partnering with computer chip maker AMD to develop a new cloud computing infrastructure based on blockchain technology.

According to the announcement, W3BCLOUD will be the first independent blockchain infrastructure for cloud compating which will comply both with state and private sectors. The hardware is competent enough and support multiple workloads and applications for commercial enterprises and governments.

"The merging of hardware and software is going to power a fresh infrastructure layer and facilitate an accelerated proliferation or massive adoption of the Blockchain technology".

Under the agreement, ConsenSys will provide expertise on how blockchain transactions may require to be processed and how it will beneficial for different industries.

There's more. Via a statement, Joe Lubin the founder of ConsenSys also pointed out that boosting the computing power of Blockchain networks by using AMD technology will facilitate the scalable of emerging decentralized systems on a global scale.

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Joerg Roskowetz, Director of product management and blockchain technology at AMD, stated that the invention will be created to "tackle challenges ranging from smart identity, enterprise data centers and health ID tracking, to licensing and supply chain management".

The platform thus developed will be able to cater the burgeoning demand from dominating companies as well as government listed agencies to deploy the technology with the aim to support enterprise data centers, smart identity, health ID tracking, supply chain management solutions, and licensing explained Roskowetz.

Recent research in the Blockchain scene has shown that AMD chips have started to become popular in already functional Blockchain-based networks.

AMD also entered into a partnership with seven other major technology companies in November past year to create 8 new cryptocurrency mining rigs. The companies, however, didn't provide any detail on being asked during the press conference.

ConcenSys had in the last month signed a Memorandum of Understanding with South Korean technological holding SK Group. Initiative is focused on building business model of corporate blockchain with the use of smart contracts.