Global Blockchain and Hewlett Packard Announce Collaboration

Global Blockchain Technologies (CSE:BLOC) and Hewlett Packard (NYSE:HPQ) announced a collaboration on Monday (June 4) for a proof-of-concept (PoC) marketplace for cloud services that specifically targets enterprise users.

According to the release, the PoC peer-to-peer decentralized marketplace will partner users that have a surplus of computing resources with those who need more resources. Users that require additional resources will be able to purchase what they require from those with excess computing resources.

The decentralized marketplace will be built on what’s called the Laser network, which is a blockchain technology built by Global Blockchain Technologies, that connects with other existing blockchain networks to be interoperable.

Global Blockchain will be working with Hewlett Packard to finalize the PoC and testing it out with existing Hewlett Packard customers in addition to providing seamless integration with its cloud services like OneSphere and Nimble, to name a few.

The PoC will then be the base for Global Blockchain’s Stratus Marketplace which, once developed, will be an open-source, internet-scale peer-to-peer network. The network will aim to eliminate risks associated with centralized storage methods, liquidate unused storage and provide low-cost computing resources to Hewlett Packard’s enterprise users. The target release date for the marketplace is projected for sometime in late Q3 2018.

“The goal of the PoC network is to demonstrate how a user can monetize under-utilized storage assets by supplying them to the network, and how they can migrate existing data to the network with minimal disruption,” Bill Philbin, Hewlett Packard SVP and CTO said in the release.

The release compared the PoC marketplace the “sharing economy” used by Uber and AirBnB and that it will “do for enterprise cloud services what AirBnB did for accommodations.”

“With computing resources becoming increasingly in-demand in enterprise organizations, the ability to buy and sell excess capacity will revolutionize enterprise IT,” Shidan Gouran, president and CEO of Global Blockchain said.

Following Monday’s announcement, shares of Global Blockchain increased 5.26 percent to close the one-day trading period at an even C$0.50. Meanwhile shares of Hewlett Packard rose 0.064 percent to close at US$15.54 on Monday.

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Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.