CertiK, a blockchain security firm, has announced a new partnership with Alibaba Cloud, the cloud computing subsidiary of Chinese e-commerce giant Alibaba. This collaboration involves CertiK migrating its cloud infrastructure in Asia to Alibaba Cloud and using its resources to host a suite of 12 blockchain applications.
Ronghui Gu, co-founder of CertiK, expressed optimism about the partnership. He stated, “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.”
Partnership Highlights
The partnership began in May 2023 when CertiK’s security suite became available on Alibaba Cloud’s Blockchain as a Service (BaaS) platform. This integration allows CertiK’s developers to conduct code reviews, risk assessments, team identity verification, and background checks using Alibaba’s robust cloud infrastructure.
Initially, CertiK integrated its smart contract auditing and layer 1 blockchain auditing service. They also plan to introduce penetration testing and CertiK’s Skynet due diligence tool.
Previously, Alibaba Cloud collaborated with Avalanche blockchain, supporting Node-as-a-Service initiatives. This facilitated the launch of new validator nodes on Alibaba’s cloud infrastructure, providing essential computing, storage, and distribution resources during peak demand.
Blockchain and Beyond
Beyond blockchain and Web3 applications, Chinese entrepreneurs and investors are increasingly focused on artificial intelligence (AI). Several Chinese startups specializing in generative AI, including Zhipu AI, Moonshot AI, MiniMax, and 01.ai, have surpassed $1 billion in valuation. They are supported by local investors and are seeking talent to develop innovative AI products.
Alipay, Alibaba’s payment subsidiary, recently introduced an AI feature on its payments app. It uses image recognition technology to detect early signs of balding based on medically relevant images.
China’s Regulatory Landscape
In its latest financial stability report, the People’s Bank of China (PBoC) addressed cryptocurrency regulation and decentralized finance. The PBoC emphasized the need for global cooperation in regulatory efforts. Despite strict measures against cryptocurrency transactions and mining, mainland China remains a significant hub for crypto-mining.
China plans to revise its Anti-Money-Laundering (AML) law to address virtual asset risks. A draft amendment is currently under review by the national legislature.
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