Ethereum solutions provider ConsenSys has teamed up with multinational microchip manufacturer AMD and Abu Dhabi-based investment management firm Halo Holdings to jointly develop a cloud computing infrastructure based on blockchain technology.
The three companies have created W3BCLOUD, a cloud computing infrastructure designed specifically to provide datacenter solutions powered by AMD hardware and optimized for blockchain workloads and processes.
AMD Blockchain Platform
Through this partnership, AMD will provide both hardware and industry experience while ConsenSys will provide expertise on how blockchain systems are developed and processed. The goal is to create blockchain-based application systems to satisfy the needs of governments and commercial enterprises, while accelerating the implementation of decentralized applications in both private and public sector.
In a statement, AMD’s Director of Product Management for blockchain technology, Jerog Roskowetz said that the AMD blockchain infrastructure will be designed to meet the growing demands of major firms and government agencies who will be able to use the platform for smart identity verification, enterprise datacenters, health ID tracking as well as licensing and supply chain management.
Joseph Lubin, founder of ConsenSys commented:
“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.”
There was little information given about the role of Halo Holdings, but it is likely that the Middle Eastern firm is financially backing and advising this venture.
Shifting In the Blockchain Space
It’s worth noting that in the fourth quarter of 2017 and the first quarter of last year, AMD saw huge boosts from sales of its graphics chips to cryptocurrency miners. But the recent stagnation in the cryptocurrency market has seen chips sales to miners slowdown significantly. ConsenSys, meanwhile, has responded to the bear market conditions by laying off some of its staff. This partnership is perhaps what these two companies need to bring new life into their blockchain projects.
Last September, ConsenSys partnered with Shell, Citi Group, ING and leading banks to launch komgo SA, a venture based in Geneva which provides enterprise-level blockchain solutions.