ConsenSys, AMD and Halo Holdings partner to produce blockchain-based cloud computing

ConsenSys, AMD and Halo Holdings partner to produce blockchain-based cloud computing

Both AMD and ConsenSys have had what some would describe as a rough ride during the crypto bear market of 2018. The former has seen stock prices plunge 40% in the past four months while the latter has been shedding staff and downsizing.

According to a press release issued by ConsenSys on January 04, the Blockchain software company is teaming up with investment management company based out of Abu Dhabi, Halo Holdings, and the semiconductor manufacturing major Advanced Micro Devices (AMD), to develop a Blockchain-based infrastructure for cloud computing.

This new partnership could help put some life back into the two companies before crypto markets start to recover.

ConsenSys will provide its blockchain software expertise to the project, providing insight into efficient compute usage for blockchain transactions, security requirements, and emerging use cases for the technology.

W3BCLOUD is a cloud computing blockchain infrastructure with increased transaction throughput and state-of-the-art security.

Roskowetz also added that, in turn, the platform's goal should be to meet the growing demand from top corporations and governmental agencies to use the technological support smart identity, health ID tracking, enterprise data centers, supply chain management solutions and licensing.

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According to the data, the companies became partners for creation of so-called W3BCLOUD, dedicated to development of hardware products for AMD's data processing centers.

Joerg Roskowetz also mentioned that the product would be created to "tackle challenges ranging from smart identity, enterprise data centers, and health ID tracking, to licensing and supply chain management".

Jerog Roskowetz, the director of product management for Blockchain technology at AMD stated that they would be giving ConsenSys access to high performance technology in hardware that are is capable of improving the scaling and proliferation of decentralized services as well as networks.

Joe Lubin, ConsenSys founder reported that the partnership with AMD will push the company's efforts towards scalable adoption of emerging decentralized systems across the globe.

ConcenSys was recently in news for signing a memorandum of understanding with South Korea-based tech firm SK Group.

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