CertiK Expands Blockchain Development in Asia with Alibaba Cloud Partnership
By Ruholamin Haqshanas
Updated: July 1, 2024, 06:00 EDT | 2 min read
CertiK, a leader in blockchain security, has joined forces with Alibaba Cloud, the cloud computing subsidiary of Chinese e-commerce titan Alibaba. This strategic collaboration entails CertiK migrating its cloud infrastructure across Asia to Alibaba Cloud, leveraging its robust resources to host a suite comprising 12 blockchain applications.
Ronghui Gu, co-founder of CertiK, expressed confidence in blockchain’s transformative potential, stating, “For over five years, we have believed in the transformative power of blockchain technology.”
Enhanced Collaboration: CertiK and Alibaba Cloud
The partnership between CertiK and Alibaba Cloud was formalized in May 2023, coinciding with the integration of CertiK’s security suite into Alibaba Cloud’s Blockchain as a Service (BaaS) platform. This integration empowered CertiK’s developers to perform code reviews, risk assessments, team identity verifications, and background checks using Alibaba’s cloud infrastructure.
Initially, CertiK integrated its smart contract auditing and layer 1 blockchain auditing services, with forthcoming plans to introduce penetration testing and CertiK’s Skynet due diligence tool.
Alibaba Cloud’s Previous Ventures in Blockchain
Previously, Alibaba Cloud collaborated with Avalanche blockchain to support Node-as-a-Service initiatives, facilitating the launch of new validator nodes on its cloud infrastructure. This support provided crucial computing, storage, and distribution resources, particularly beneficial during peak usage times for developers.
Expanding Horizons: AI Focus in China
In addition to blockchain and Web3 applications, Chinese entrepreneurs and investors are increasingly directing attention towards artificial intelligence (AI). Several Chinese startups specializing in generative AI have recently achieved valuations exceeding $1 billion, establishing themselves as formidable contenders alongside established players like OpenAI.
Noteworthy among these startups are Zhipu AI, Moonshot AI, MiniMax, and 01.ai, which have garnered substantial backing from local investors and are actively recruiting talent to pioneer innovative AI products.
Innovative AI Integration by Alipay
Alibaba’s payment subsidiary, Alipay, recently integrated an AI feature into its payments app. This AI service employs image recognition technology trained on thousands of medically relevant images to assist users in identifying early signs of hair loss. By uploading scalp images, users receive personalized recommendations, including advice on medical care when necessary.
China’s Regulatory Outlook on Crypto
In its latest financial stability report, the People’s Bank of China (PBoC) addressed cryptocurrency regulation and decentralized finance (DeFi) issues. Emphasizing the necessity for international collaboration in effective regulation, the Chinese central bank underscored efforts to combat crypto adoption within mainland China. Despite stringent measures against crypto transactions and mining, China remains a pivotal hub for crypto mining activities.
Looking Ahead: Legislative Developments
China is poised to revise its Anti-Money-Laundering (AML) law to confront escalating risks linked to virtual assets. The proposed amendment, deliberated at a State Council meeting chaired by Premier Li Qiang, is set for review by the national legislature.
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