Intel Corporation Pursues Blockchain Technology, Creates Research Group

Intel Corporation Pursues Blockchain Technology, Creates Research Group
By The original uploader was VD64992 at English Wikipedia [Public domain], via Wikimedia Commons

Along with IBM, now Intel is looking to utilize blockchain technology that inspired Bitcoin in order to develop itsown digital cash and payment system, according to a report from Bitcoin Magazine. In regard with this, the chipmaker recently put up a job post for a new researcher for its special innovation projects group.

Intel intrigued with blockchain potential

According to the job posting, the candidate is required to “investigate hardware and software capabilities that advance the performance, robustness, and scalability of open, decentralized ledgers.”

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In general, blockchain empowers Bitcoin to act as digital wealth, which can be exchanged through a process that bypasses any need for a middlemen like banks and credit card companies. The phrase ‘Block Chain’ refers to a decentralized transaction ledger that enables digital currencies such as Bitcoin to avoid double-spending of money by registering every transaction made in an open ledger, thus eliminating the need of a central authority. Such a dispersed, public, safe, peer-to-peer transaction allows not only the trade of Bitcoins, but can also be used to explore many secondary applications, for instance, digital marketplaces.

Therefore, block-chain technology has many potential uses in a digital world and has intrigued companies like Intel, who is now looking for a researcher in the field.

Will Intel target security-related features?

According to its job posting, the