Blockchain software company Consensys and AMD, working with Abu Dhabi-based Halo Holdings, announced a new company called W3bcloud (pronounced web-cloud) that will build blockchain-based cloud computing infrastructure.
AMD will provide the hardware, Consensys will provide the blockchain software and expertise, and investment firm Halo Holdings will raise money for the joint venture, said Maggie Love, venture lead for W3bcloud. “We’re building the future stack of blockchain compute,” Love said.
She also explained the name: “this venture is seeking to really support web 3.0, also known as the blockchain. W3bcloud is looking to be part of that compute infrastructure that supports that transformation.”
The new company will build data center products to support blockchain-based workloads and applications, with a focus on Ethereum — Consensys founder and CEO Joe Lubin co-created the Ethereum blockchain framework. And it will target large enterprise and government customers.
“We are focusing on bringing an extra layer of security to blockchain networks and to the data that is hosted on blockchain networks,” Love said. “We want to provide a more robust infrastructure that can handle the heavy computing workloads of large enterprises and government, while providing a layer of security that goes all the way down the stack, beyond the software, which should allow for wider adoption of decentralized applications.”
When asked why Consensys is working with AMD as opposed to, say, Intel, Love said she can’t say whether AMD is better than other chipmakers when it comes to supporting blockchain-based workloads. “But I can say we are looking to provide leading-edge technology, and AMD is committed to working with us on that. We have been talking with them for a long time, and there are a lot of synergies and excitement around blockchain from AMD.”
In a statement, AMD’s Joerg Roskowetz, director of product management for blockchain technology, said, “We are excited to work with Consensys and provide them with access to high-performance hardware technologies capable of better scaling and proliferating decentralized networks and services to meet the growing interest from large corporations and governments looking to tackle challenges ranging from smart identity, enterprise data centers and health ID tracking, to licensing and supply chain management,” he said.
The companies won’t provide a timeline for when they plan to launch these technologies. But Love said they are committed to solving enterprise’s problems related to web 2.0, namely user privacy and security. “Blockchain is seeking to solve those problems, but it’s hard to scale,” she said. “This project is seeking to provide more robust infrastructure so we can actually scale these blockchain networks, and it’s being architected with web 3.0 in mind.”