ConsenSys and AMD to Jointly Develop Blockchain-Based Cloud Computing Infrastructure

Blockchain software company ConsenSys, semiconductor producer AMD, and Abu-Dhabi-based investment management firm Halo Holdings are jointly working on a blockchain-based cloud computing infrastructure. ConsenSys announced the collaboration in a press release published on Jan. 4.

Per the release, the companies have partnered to create the so called W3BCLOUD aimed at the development of AMD hardware-based datacenter products for emerging blockchain workloads. Within the collaboration, ConsenSys will provide expertise in the field of computing in blockchain transactions, security issues, and use cases for the technology.

According to the statement, W3BCLOUD would be “the first” independent cloud computing blockchain infrastructure to satisfy the requirements of both the public and private sector.

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

ConcenSys, recently signed a Memorandum of Understanding with South Korean technological holding SK Group in December. The initiative aims at building an enterprise blockchain business model by using smart contracts. The partnership will also include Ethereum (ETH) blockchain technology education for Korean developers through ConsenSys Academy and SK Holdings C&C’s Tech Training Center.

In November, AMD partnered with seven major tech companies to produce eight new cryptocurrency mining rigs. AMD stressed that the partnership will bring new “blockchain compute solutions” to the market, designed to meet the various aspirations of “innovative blockchain platforms.” Additionally, AMD released a video on blockchain, explaining core features of the technology, listing trust, integrity and security as its key advantages.