AMD And ConsenSys To Collaborate On New Blockchain Project

AMD, the manufacturer of computer chips and ConsenSys startup decided to create a tripartite partnership in order to create a new project based on blockchaint. The third party is Halo Holdings, Abu-Dhabi-based investment management firm. The joint partnership's goal is to leverage the use of blockchain technology for administration and commercial purposes in Abu Dhabi. The project is called W3BCLOUD.

It is planned that the cloud computing architecture will be optimized to support decentralized applications. Each company comes up with their experience and expertise to develop a new project. ConsenSys will share its knowledge in the field of blockchain applications and transactions, and AMD will provide technological solutions to scale and support decentralized networks and services. New cloud infrastructure is primarely aimed at large companies and government services. It's about smart identification systems, corporate data centers, licensing or logistics, etc.

“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,” — said Joseph LUBIN, the founder of ConsenSys.

The news has positively effected the AMD stock price — after the announcement of the partnership, it jumped by 11%.

Image courtesy of Ubergizmo