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In a blog post issued on Tuesday, Tim Allen, Intel’s strategic relationship manager, said the companies have collaborated to mitigate some of blockchain technology’s biggest problems.
Tech giants Intel (NASDAQ:INTC) and SAP (NYSE:SAP) announced on Tuesday (September 4) that they will work together to “address gaps in the market” in the blockchain sector.
According to the blog post written by Intel’s strategic relationship manager, Tim Allen, the companies’ existing partnership is already “geared towards” forming “superior blockchain technologies” and implementing them with new and old applications.
The companies state in the post that in its 25-year collaboration on enterprise infrastructure platforms, they have recently expanded their partnership to include blockchain in part thanks to SAP’s HANA Data Management Suite, which was developed by both companies.
SAP’s HANA Blockchain adapter in combination with its Cloud Platform Blockchain allows its users to “easily consumer and build on blockchain data in SAP HANA using a SQL interface and standard SQL commands — both on-premise or in the cloud.”
Germany-based SAP has also developed a blockchain-as-a-service (BaaS) on the SAP Cloud Platform Blockchain, which means customers can infuse enterprise and blockchain via a pay-as-you-go method.
Intel, on the other hand, brings to the table its Xeon Scalable processors that provides reliability, advanced memory speed, capacity and interconnects, all of which serve as the backbone to blockchain applications.
“Intel offers additional security for blockchain source code and data with Intel® Software Guard Extensions (Intel® SGX), which delivers enhanced privacy and security to help protect blockchain transactions, and can help improve throughput and consensus efficiency,” the post reads.
Together, the companies claim they are performing “benchmarking studies” to determine blockchain metrics. This includes transactions to identify “network bottlenecks” that could be improved with better performing technologies.
“This benchmark collaboration is significant for existing blockchain deployments since current blockchains can be associated with latency and slow throughput issues,” the post says.
In the aftermath of Tuesday’s post, shares of Intel dipped a slight 0.50 percent over Wednesday’s (September 5) trading period to close the session at US$47.72. Meanwhile shares of SAP’s NYSE stock dipped 2.37 percent to close at US$115.58 on Wednesday.
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Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.