Intel Corporation (NASDAQ:INTC) is one of the mainstream tech companies that one would least expect to start using digital currency in the early days of blockchain and crypto, but it turns out that it was among the first go down that road.
A currency tokenization company called CMTLabs, Inc., recently revealed that Intel bought a digital currency service token called CMTL℠ (Computer Memory Test Labs, Inc). The computer processor manufacturer reportedly used the digital currency for five years since 2012, through its subsidiary, NUC Group.
Intel NUC Group reportedly started using the CMTL digital currency service tokens to pay for more than 450 flash and memory compatibility tests involving more than 30 manufacturers. Intel NUC Group provided Intel corporate credit cards loaded with $5000 to their NUC technical marketing engineers so that they could cover channel marketing expenses. They found that they could fund their testing program entirely through CMTL service tokens.
Intel leveraged huge efficiencies by using the CMTL service tokens platform
The digital token proved to be quite useful because it allowed the company to test large amounts of part numbers concurrently every time a new NUC platform was rolled out. The CMTL token platform also made it easier for TMEs to circumvent corporate bureaucracy while also avoiding the risk of not receiving approval of funds. It thus allowed parties to enjoy more efficiencies and faster testing.
“CMTL’s testing and certification program was completely funded by the Intel NUC purchasing digital currency service tokens,”
Intel NUC Group operated the CMTL testing and token purchasing program from April 2012 to April 2017. The program ended because Intel decided to start using its house and NUC customer offering for self-testing. Despite the change after the five years, the program managed to operate without any glitches for the five years. It also acted as a great benchmark through which other companies could explore applications.
CMTLabs, Inc. operated its CMTL tokens platform from 1999 to 2019, during which the token has been used to cater to more than 27,000 certifications. More than 120 manufacturers also utilized it.