CertiK Collaborates with Alibaba Cloud to Enhance Blockchain Development in Asia

CertiK Collaborates with Alibaba Cloud to Enhance Blockchain Development in Asia

Blockchain security firm CertiK has announced a strategic partnership with Alibaba Cloud, the cloud computing arm of Chinese e-commerce giant Alibaba. This collaboration aims to bolster blockchain development and security in Asia by leveraging Alibaba Cloud’s robust infrastructure.

Migration to Alibaba Cloud and Utilization of Resources

CertiK will transition its cloud infrastructure in Asia to Alibaba Cloud and utilize its extensive resources to host a suite of 12 blockchain applications. “For over five years, we have believed in the transformative power of blockchain technology,” stated Ronghui Gu, co-founder of CertiK. “We look forward to empowering developers with secure blockchain development and deployment through Alibaba Cloud’s platform.”

Strengthening of Existing Collaborations

The partnership between CertiK and Alibaba Cloud began in May 2023 when CertiK’s security suite became accessible on Alibaba Cloud’s Blockchain as a Service (BaaS) platform. This integration enabled CertiK’s developers to perform code reviews, risk assessments, team identity verifications, and background checks using Alibaba’s cloud services. Initially, CertiK integrated its smart contract and layer 1 blockchain auditing services and plans to add penetration testing and the Skynet due diligence tool.

Alibaba Cloud’s Ongoing Blockchain Ventures

This collaboration is not Alibaba Cloud’s first foray into the blockchain space. In a previous integration with the Avalanche blockchain, Alibaba Cloud supported Avalanche’s Node-as-a-Service initiatives, allowing developers to launch new validator nodes on Alibaba’s infrastructure. The additional computing, storage, and distribution resources provided by Alibaba Cloud proved beneficial during high-demand periods.

Expansion Beyond Blockchain: Focus on AI

In addition to blockchain and Web3 applications, Chinese entrepreneurs and investors are increasingly focusing on artificial intelligence (AI). Four Chinese startups specializing in generative AI have recently surpassed the $1 billion valuation mark, positioning themselves as competitors to established players like OpenAI. These startups, including Zhipu AI, Moonshot AI, MiniMax, and 01.ai, have received significant support from local investors and are actively recruiting talent to develop innovative AI products.

Alipay’s New AI Feature

Alibaba’s payment subsidiary, Alipay, recently introduced an AI feature on its payments app. This service utilizes image recognition technology trained on thousands of medically relevant images to help users detect early signs of balding. Users can upload pictures of their scalps, and the app provides suggestions, including recommendations for medical care if necessary.

China’s Central Bank on Crypto Regulation

In its latest financial stability report, the People’s Bank of China (PBoC) addressed issues related to cryptocurrency regulation and decentralized finance. The PBoC emphasized the need for international cooperation to regulate the industry effectively. Despite a ban on virtually all crypto transactions and cryptocurrency mining, mainland China remains a major hub for crypto mining. To address the increasing risks associated with virtual assets, China is set to revise its outdated Anti-Money-Laundering (AML) law. The draft amendment, discussed at a State Council meeting chaired by Chinese Premier Li Qiang, will soon undergo review by the national legislature.

This strategic collaboration between CertiK and Alibaba Cloud is poised to significantly enhance blockchain security and development in Asia, while also highlighting the broader technological advancements and regulatory efforts in the region.

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