Three Big Firms Ally to Develop a Cloud Technology Based on Blockchain

Semiconductor producer AMD, Abu-Dhabi based investment firm Halo Holdings and ConsenSys partner to develop a blockchain-based cloud computing infrastructure, as per a press release published on January 04.

Joseph Lubin, co-creator of Ethereum and founder at ConsenSys posted on Twitter that AMD and ConsenSys are collaborating to develop high-performance hardware technologies.

According to the press release, these companies have collaborated to develop a cloud computing architecture called W3BCLOUD. The computing architecture is aimed at developing hardware-based data center products to withstand rising blockchain workloads.

ConsenSys will provide competence in the field of computing in blockchain transactions, use cases and security issues for the technology.

Lubin also stated in the press release that –

“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.”

Halo Holdings, which is based in the United Arab Emirates will render financial expertise. The firm operates a large-scale technology and private equity investment sector with stakeholders in Asia, Middle East, Europe and North America.

CONSENSYS AND AMD ARE TOGETHER BUILDING CLOUD COMPUTING ARCHITECTURE CALLED W3BCLOUD. THE TECHNOLOGY IS AIMING AT DEVELOPING HARDWARE-BASED DATA CENTER PRODUCTS.

As per the press release, W3BCLOUD is aiming to provide the first independent cloud computing blockchain infrastructure, combining increased transaction throughput with state-of-the-art security.

Joerg Roskowetz, director of product management, Blockchain Technology, at AMD stated “We are excited to work with Consensys and 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 centers and health ID tracking, to licensing and supply chain management.”

AMD chips have been prominent in running blockchain networks, particularly by retail customers looking to mine cryptocurrencies. The company had previously released software updates for miners to support the blockchain processes in March 2018.

It seems like, ConsenSys and AMD are pitching aggressively on blockchain-based cloud computing infrastructure. The firms are looking to capitalize on and accelerate the adoption of decentralized applications (dApps). With Halo Holdings, the above firms will benefit extensively in finance and investment facility which has stakeholders in various countries.

We have to look further this year, as to what extent all the three firms have executed their objectives behind the alliance.

Will the partnership between ConsenSys and AMD able to address the use cases of Blockchain? Share your thoughts in the comments.