Quantum Blockchain hires former Intel Blockscale specialist

12th Sep 2024 14:13

(Sharecast News) - Quantum Blockchain Technologies announced the appointment of Jose Rios, a former executive at Intel, as its strategic adviser on Thursday.

The AIM-traded company said Rios, who previously served as general manager of blockchain and business solutions in Intel's Accelerated Computing Systems and Graphics Group, would bring over 25 years of experience in the tech industry, including his pivotal role in Intel's Blockscale ASIC project - a chip designed specifically for Bitcoin mining.

It said his expertise in ASIC chip design and production was expected to significantly benefit QBT's blockchain technology development.

Rios had been privately consulting for QBT since late 2023, assisting the company in establishing relationships with major players in the global Bitcoin industry.

He had also provided strategic guidance on the market positioning of QBT's technology.

The board said his involvement had extended to participation in key industry events such as Bitcoin Amsterdam 2023 and Bitcoin Disrupt 2024 in Miami, with plans to attend future events, including Bitcoin 2024 in Nashville and Amsterdam Bitcoin 2024.

With his deep industry connections and technical expertise, the board said Rios was expected to help elevate QBT's standing in the blockchain space as the company continued to focus on research and development in the fast-evolving sector.

"QBT was a keen supporter of Intel's Blockscale project, from the end of 2022 to the early months of 2023, when the ASIC chip production was discontinued," said chairman and chief executive officer Francesco Gardin.

"Around that time, we were introduced to Mr Rios, its project manager and, following a period of mutual understanding into what QBT was looking to create, Jose initially agreed to consult for the company in a private capacity."

Gardin said that resulted in "extremely valuable insights" for the firm with regards to the Bitcoin industry, the major players in the sector and the analysis of key trends.

"Today's announcement that Mr Rios has agreed to become strategic adviser is an important step for us and one which we value very highly knowing the contribution he will bring to the company."

At 1158 BST, shares in Quantum Blockchain Technologies were up 8.19% at 0.57p.

Reporting by Josh White for Sharecast.com.