CertiK, a top blockchain security firm, has joined forces with Alibaba Cloud, the cloud computing arm of Chinese e-commerce giant Alibaba, to boost blockchain development in Asia. This strategic partnership aims to utilize Alibaba Cloud’s strong infrastructure to support CertiK’s range of blockchain applications.
CertiK’s move to shift its cloud infrastructure in Asia to Alibaba Cloud is a significant step in its mission to enhance blockchain security and efficiency. With the advanced resources of Alibaba Cloud, CertiK will host and manage 12 different blockchain applications. This aligns with CertiK’s belief in the transformative potential of blockchain technology, as highlighted by Ronghui Gu, co-founder of CertiK.
The collaboration between CertiK and Alibaba Cloud started in May 2023, when CertiK’s security suite became available on Alibaba Cloud’s Blockchain as a Service (BaaS) platform. This integration has enabled CertiK’s developers to conduct crucial functions like code reviews, risk assessments, and identity verification using Alibaba’s robust cloud infrastructure.
Initially, CertiK integrated its smart contract auditing and layer 1 blockchain auditing services with Alibaba Cloud. The company also plans to introduce additional services like penetration testing and CertiK’s Skynet due diligence tool to enhance the security and reliability of blockchain applications.
Alibaba Cloud has previously supported initiatives in the blockchain sector, such as Avalanche blockchain’s Node-as-a-Service projects. This has provided developers with additional resources to manage high demands during peak usage periods.
In addition to blockchain, there is a growing focus on artificial intelligence (AI) among Chinese entrepreneurs and investors. Several Chinese startups specializing in generative AI have surpassed the $1 billion valuation mark, attracting significant investment and talent to drive AI innovation.
Alibaba’s payment subsidiary, Alipay, has incorporated AI features into its app, utilizing image recognition technology to help users detect early signs of balding. This showcases Alibaba’s commitment to integrating cutting-edge technology into its services.
The People’s Bank of China (PBoC) recently addressed the challenges of cryptocurrency regulation and decentralized finance in its financial stability report. The central bank called for international cooperation to regulate the crypto industry effectively.
China is also set to revise its Anti-Money-Laundering (AML) laws to tackle the growing risks associated with virtual assets. This draft amendment will soon be reviewed by the national legislature.
The partnership between CertiK and Alibaba Cloud represents a significant advancement in blockchain technology and security in Asia. By leveraging Alibaba’s cloud infrastructure, CertiK is poised to drive innovation and enhance the reliability of blockchain applications. This collaboration, combined with China’s focus on AI and evolving regulatory landscape, highlights the dynamic nature of the tech industry in the region.