AMD, Consensys get funding for “cloud blockchain” project

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Are cloud and blockchain two great tastes that taste great together?

 

Excusing the clichéd lead, new reports are highlighting essential partnerships between tech companies that are bringing us new vistas of cloud-delivered services with blockchain ingredients.

 

Cointelegraph reports that chip maker AMD is partnering with Ethereum firm Consensys to build ‘blockchain data centers’ that can deliver cloud services using Ethereum smart contracts.

 

Part of the interesting new reports is where this joint project is getting funding – in going over this new wrinkle, Cointelegraph’s Adrian Zmudzinski only specifies that $20 million for the project is coming from “family offices” in the United Arab Emirates.

 

Details on the project reveal some of the delegated company roles: AMD be responsible for a lot of the decentralized computing infrastructure design, while Consensys will manage the blockchain software.

 

“As blockchain adoption continues progressing at an increasingly fast pace, several cloud computing platforms started offering services that leverage this new technology,” Zmudzinski writes of the greater market context.

 

Reports like this one from Dataversity outline how some of this innovation will work.

 

“Many start-ups have started thinking about using blockchain technology not just for financial transactions but for storing sensitive information, as massive leaks in the cloud computing sector are not unheard of,” write Harsh Arora and Archi Bhatia, “As was seen in the case of Deep Roots Analytics,where the sensitive information of 198 million Americans was accidentally leaked. This showed that cloud computing’s centralized approach is no longer secure.”

 

We’ll have to see where this new frontier takes us – and how it will move related markets.

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