In a strategic move to bolster blockchain development across Asia, the blockchain security enterprise CertiK has announced a pivotal partnership with Alibaba Cloud, the digital backbone of the Alibaba conglomerate. This alliance will see CertiK transition its cloud-based operations within Asia to the robust framework of Alibaba Cloud, with the intention to deploy an array of 12 blockchain applications.
Ronghui Gu, the visionary co-founder of CertiK, remarked, “Our conviction in the revolutionary potential of blockchain has been unwavering for over half a decade.”
**Strengthening Ties: CertiK and Alibaba Cloud**
The synergy between CertiK and Alibaba Cloud took root in May 2023, following the integration of CertiK’s security solutions into Alibaba Cloud’s Blockchain as a Service (BaaS) offerings. This integration facilitates an array of developer operations, including code analysis, risk evaluation, and authenticity checks, all powered by Alibaba’s sophisticated cloud resources.
CertiK initially incorporated its services for smart contract and primary blockchain audits and is poised to expand its repertoire with penetration testing and the deployment of the Skynet due diligence mechanism.
Alibaba Cloud is no stranger to the blockchain arena, having previously collaborated with the Avalanche blockchain to support the launch of new validator nodes, thereby enhancing the Node-as-a-Service initiative.
**AI: The New Frontier for Chinese Innovation**
The landscape of Chinese innovation is rapidly shifting towards artificial intelligence (AI), with four generative AI startups—Zhipu AI, Moonshot AI, MiniMax, and 01.ai—achieving the coveted billion-dollar valuation, thereby emerging as formidable contenders to established entities like OpenAI.
Alipay, an affiliate of Alibaba, has also ventured into AI with the introduction of an image recognition feature within its payment application, designed to assist users in identifying early indicators of hair loss.
**Regulatory Landscape: China’s Central Bank Takes a Stand**
The People’s Bank of China (PBoC) has recently addressed the regulatory challenges surrounding cryptocurrencies and decentralized finance in its financial stability report. The PBoC calls for a collaborative international approach to effectively regulate the sector.
Despite stringent measures against cryptocurrency adoption and mining, China continues to be a significant player in the crypto-mining industry. In response to the evolving risks associated with virtual assets, China is on the cusp of updating its Anti-Money-Laundering (AML) legislation, with the draft amendment slated for review by the nation’s legislative body.
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