AMD seems to be excited for its cryptocurrency initiative as it announces itself as the latest graphical processing unit (GPU) manufacturer to target the blockchain sector, according to reports. It is believed that the move is in line with the company’s plans to gain a presence in the cryptocurrency market.
AMD has reportedly launched an explanatory note for blockchain and cryptocurrency tech. In the page, the company has left no rock unturned to explain the various opportunities that cryptocurrency and blockchain technology holds in different sectors.
According to AMD, the technology has the potential to benefit different sectors that include –
- Medicine and healthcare
- Internet of Things and Networking
- Cyber Security
- Real Estate
- Non-Profit Energy
- Finance and banking
- Digital Advertising
- Cloud Computing
AMD believes that the potential of the blockchain is far more than its current utilization which is limited to Bitcoin and Ethereum. The list of the sectors which AMD believes can be greatly benefited with Blockchain technology is quite long. It seems like the blockchain technology can be applied to any sector in the industry.
The new page or blockchain ‘explainer’ unveiled by AMD argues how technology can best be utilized by various sectors. The explainer is actually a promotional page of its own new product which is said to be well suited for mining. The new hardware line by AMD is likely to add a more competitive edge to the sector. Cryptocurrency giant Bitmain ruled out the possibility of utilizing blockchain technology in the mining sectors. AMD, however, is of the view that the mining sector is losing competition which can be restored through the adoption of the technology.
There many other players like Samsung who have strongly expressed their interest in the mining sector, tough there there haven’t been any significant developments regarding the same.
It will be surprising for some to know that the GPU manufacturers had amazing hikes in the stock price especially when cryptocurrency hype was in demand. However, the gains eventually disappeared with a declined interest in cryptocurrency. It will be interesting to see how AMD interest in the mining sector will turn out.
Early in 2018, AMD announced its plans to increase the production of GPU to meet the growing demand for crypto mining. The demand at that time was so huge that the company has to accelerate the production of graphics card RX Vega GPUs. The product helped the company add billions of additional revenue in the Q4 of 2017. The profitability of the mining sectors largely depends on the rates of the mined coins as the rates directly affect the return rates of mining projects. At that time, it was believed that the demand of the cryptocurrency mining components will surge in 2018. To some extent, the demand surged but with the introduction of blockchain and with lack of support from financial institutions the demand fell off significantly.