Published: Tue, January 08, 2019
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AMD’s Stock Spikes by 11 Percent After Announcement of Partnership with ConsenSys

AMD’s Stock Spikes by 11 Percent After Announcement of Partnership with ConsenSys

AMD (market capitalization of about $18.9 billion) is one of the key players in the computer hardware space, and the partnership is particularly welcome considering that Consensys has recently been in the spotlight for laying off employees and restructuring the company due to the impact of the cryptocurrency bear market.

W3BCLOUD would be "the first" autonomous cloud computing blockchain infrastructure to assure the needs of both the public and private sector.

Ethereum development studio ConsenSys, semiconductor chip producer AMD and Abu-Dhabi based investment management company Halo Holdings have teamed up in order to build new cloud computing infrastructure based on Blockchain technology. ConsenSys' expertise in distributed ledger technology, coupled with AMD's hardware prowess will help in fostering the adoption of decentralized applications in the Gulf country. He further added the amalgamation of hardware and software would add a new layer of infrastructure enabling accelerate adoption of blockchain technologies.

ConsenSys will provide expertise on how blockchain transactions may need to be processed, as well as use cases, through this partnership.

The platform thus developed will be able to cater the burgeoning demand from dominating companies as well as government listed agencies to deploy the technology with the aim to support enterprise data centers, smart identity, health ID tracking, supply chain management solutions, and licensing explained Roskowetz.

AMD chips have been popular in running blockchain networks, in particular by retail customers looking to mine cryptocurrencies.

However, because interest has fallen in mining many months since that time, and with sales to miners significantly dropping to "negligible" levels before the previous year came to an end, the scene has slightly changed.

ConsenSys announced this association in a press release which was published on January 4.

Besides this partnership, ConsenSys also signed an MoU (Memorandum of Understanding) with South Korea's technology giant SK Group in December 2018. The joint venture will also include Ethereum (ETH) blockchain knowledge education for Korean developers through ConsenSys Academy and SK Holdings C&C's Tech Training Center.

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