Following a negative 2018 for both AMD and ConsenSys, the two companies have decided to form a partnership to aid the quick rejuvenation of both companies in the year 2019. According to a recent report from both parties, a new partnership aimed at developing a blockchain based cloud computing infrastructure has been formed by the duo and a United Arab Emirates-based investment management firm HaloHoldings. The result of the partnership is a blockchain based cloud computing infrastructure called— W3BCLOUD.
ConsenSys and AMD Had Some Major Set Backs
ConsenSys, an Ethereum solutions provider, had a huge chunk of its staffs laid off in the last quarter of 2018. This has resulted in many industry stakeholders wondering about the current financial state of the Ethereum focused development hub. AMD, on the other hand, is a chip provider with huge interest and stakes in cryptocurrency mining chips. The chip maker has had more than 40 percent of its total stock value shaved off in 2018 alone.
The blockchain based cloud computing infrastructure has been named W3BCLOUD and the service is formed to create optimized datacenter solutions for emerging blockchain workloads. W3BCLOUD will capitalise on AMD’s hardware expertise as well as ConsenSys’ blockchain software experience.
According to a recent report on the roles of the two companies in the development of the cloud computing infrastructure. It was stated that:
“the duo plans to design systems for applications for governments and commercial enterprises while accelerating the adoption of decentralized applications (dApps).”
It was also stated that:
“W3BCLOUD will be the first independent cloud computing Blockchain substructure to serve the requirements of both the public and private sector.”
The role Halo Holdings will be playing in the development of the company has not yet been fully stated. Other than the fact that the firm is an investment management firm headquartered in Abu Dhabi with ‘transactions in large-scale technology and private equity investments spanning Asia, Europe, NorthAmerica and the Middle East.’ no other information has been revealed yet.