Alibaba Cloud collaborates with CertiK to bolster blockchain security in a strategic partnership. In the partnership agreement, CertiK will use Alibaba Cloud to transfer its Asian cloud services and deploy a dozen blockchain solutions.
Ronghui Gu, the CertiK co-founder, said,
“For over five years, we have believed in the transformative power of blockchain technology. We look forward to empowering developers with secure blockchain development and deployment through Alibaba Cloud’s platform.”
Deepening Collaborations: Alibaba Cloud Continues Partnership Expansion with CertiK
The collaboration between CertiK and Alibaba Cloud started in May 2023, with CertiK Shield and CertiK Guard being integrated into Alibaba Cloud’s Blockchain as a Service (BaaS) solution.
The integration allowed CertiK’s developers to perform code reviews, risk evaluations, identity checks of team members, and criminal background checks using the Alibaba cloud system.
CertiK aligned smart contract auditing together with layer 1 blockchain auditing service and is planning on including penetration testing and the Skynet due diligence tool of CertiK.
Alibaba’s Cloud’s business experience shows that the company had past connections with the blockchain industry.
With the help of Node-as-a-Service, Alibaba Cloud also supported Avalanche developments, allowing new validator nodes to be created on Alibaba Cloud.
Alibaba Cloud was also helpful for developers facing high resource usage during certain hours, providing more computing, storage, and distribution capabilities.
Moving past blockchain and Web3 apps, Chinese businessperson and investors are looking towards the potential of artificial intelligence (AI).
Four recent AI startups, all based in China, have already reached the $1B+ market capitalization, which puts them in direct competition with industry leaders like OpenAI.
These emerging companies include Zhipu AI, Moonshot AI, MiniMax, and 01. ai, which has already received considerable support from local investors and is currently struggling to attract innovators to spur the creation of new AI products.
Alibaba’s Alipay, an online payment platform, has incorporated an Artificial Intelligence feature on its Payments App that seeks to identify indications of alopecia utilizing image detection; it gives users guidance on avenues to seek medical treatment based on images of their scalps submitted to the App.
China’s Central Bank Defines Its Position on Crypto Regulation
The most recent financial stability report from the PBoC covered cryptocurrency regulation and DeFi issues. The Chinese central bank stressed coordination with other countries to manage the sector effectively.
In July 2021, to curb the use of cryptocurrencies in mainland China, the PBoC detailed measures that include improving the cohesiveness of the organizations affiliated with the PBoC to implement crackdowns on cryptos.
While cryptocurrency trading and mining are mostly prohibited in mainland China, it has become the largest crypto-mining hub for Bitcoin.
China is now ready to advance its Anti-Money Laundering law due to rising risks associated with virtual assets and this new draft amendment is to be discussed for approval by the national legislature after going through the State Council presided over by the Chinese premier Li Qiang.
