ConsenSys and AMD Partner to Develop Blockchain Based Cloud Computing

Donna Miller
January 8, 2019

According to a press release from ConsenSys, published on January 4, 2019, the blockchain startup has entered into a partnership with the American technology company AMD and Abu-Dhabi-based investment management firm Halo Holdings to propel the adoption of blockchain technology in the UAE.

According to the announcement, W3BCLOUD will be the first independent blockchain infrastructure for cloud compating which will comply both with state and private sectors.

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

Joerg Roskowetz, the director of product management, Blockchain Technology at AMD stated that AMD will work well with ConsesSys and will, "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 centres and health ID tracking, to licensing and supply chain management".

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

Besides this partnership, ConsenSys also signed an MoU (Memorandum of Understanding) with South Korea's technology giant SK Group in December 2018.

So the question now is, would the partnership of three big companies be enough to bring positive development to blockchain technologies? The proposal aims to use smart contracts to build blockchain business model based enterprise. The joint venture will also include Ethereum (ETH) blockchain knowledge education for Korean developers through ConsenSys Academy and SK Holdings C&C's Tech Training Center. Several companies have taken major beatings due to the prolonged weak sales figures of crypto mining equipment, and AMD is no exception. Both companies will be teaming up to design a new cloud computing infrastructure to boost computing power for Blockchain processes. In addition, AMD released a video about blockchain which explains its main functions, including trust and safety as key advantages.

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