AMD really wants to buy the new cryptocurrency mining tools

Hoping for a bit of action from the encryption market, it looks like AMD has become the latest graphics processing unit (GPU) maker to target the blockchain domain.

AMD has just released a new explanation page for encryption and blockchain tech. While the page recognizes that encryption is currently the most popular blockchain, it is suggested that technology has enormous potential to affect a number of other domains.

Here are some of the industries that AMD believes can benefit from the blockchain application:

  • Medicine and Health
  • Financial and Banking
  • Internet of Things (IoT) and Networking
  • Digital advertising
  • Governance
  • Supply Chain Management
  • Forecast
  • Cloud Computing
  • Government
  • Retailing
  • Real estate
  • Publishing
  • Non-Profitable Energy

For a technology that has just found some productive use outside of Bitcoin and Ethereum (and a few other privacy-related coins), AMD seems to be putting many hopes into blocks.

In fact, the list of possible future use cases is so long, it almost seems that blockchain is a welcome addition to almost every industry.

Many would argue that this is not the case. But there is a good reason why AMD does not have: the new blockchain "explanation" section is practically a landing page for its new hardware series (which also happens to be somewhat suitable for mining).

Real smooth, AMD, really smooth.

In all justice, there is nothing wrong with some competition in the mining sector – especially because it is likely to make technology better and cheaper for consumers. Not so long ago, Bitmain Cryptographic Giant essentially ruled the mining sector, but the reports show that there was losing ground to competitors.

Indeed, key technology titans such as Samsung have already expressed interest in the mining sector, although no significant developments have taken place.

For those in the loop, GPU manufacturers enjoyed healthy stock price hits when the encryption campaign was at their height, but these gains quickly disappeared when cryptography began to lose steam.

It will be interesting to see if AMD's mining adventure ends better than Nvidia.

Published November 6, 2018 – 16:57 UTC