Blockchain
CertiK joins Alibaba Cloud to power blockchain in Asia
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CertiK, a leading blockchain security company, has partnered with Alibaba Cloud, the cloud computing arm of Chinese e-commerce giant Alibaba, to boost blockchain development in Asia. The strategic collaboration aims to leverage Alibaba Cloud’s robust infrastructure to support CertiK’s full suite of blockchain applications.
CertiK’s decision to migrate its cloud infrastructure in Asia to Alibaba Cloud marks a significant step in its mission to improve blockchain security and efficiency. With Alibaba Cloud’s advanced resources, CertiK will host and operate a broad range of 12 blockchain applications. This move is in line with CertiK’s long-standing belief in the transformative power of blockchain technology, as highlighted by Ronghui Gu, co-founder of CertiK.
The partnership between CertiK and Alibaba Cloud began in May 2023, when CertiK’s security suite became available on Alibaba Cloud’s Blockchain as a Service (BaaS) platform. This integration enabled CertiK developers to perform critical functions such as code reviews, risk assessments, team identity verification, and background checks using Alibaba’s robust cloud infrastructure.
Initially, CertiK has integrated its smart contract auditing and layer-1 blockchain auditing services with Alibaba Cloud. The company also announced plans to introduce additional services such as penetration testing and CertiK’s Skynet due diligence tool, further enhancing the security and reliability of blockchain applications.
This collaboration is not Alibaba Cloud’s first foray into blockchain. Previously, Alibaba Cloud supported Avalanche blockchain’s Node-as-a-Service initiatives, allowing developers to launch new validator nodes on Alibaba’s cloud infrastructure. The additional compute, storage, and distribution resources provided by Alibaba Cloud have been invaluable for developers managing high resource demands, especially during peak usage periods.
In addition to blockchain, there is growing attention towards artificial intelligence (AI) among Chinese entrepreneurs and investors. Several Chinese startups specializing in generative artificial intelligence, such as Zhipu AI, Moonshot AI, MiniMax, and 01.ai, recently crossed the $1 billion valuation mark. These startups not only attract significant investment, but also actively recruit talent to drive AI innovation.
Alibaba’s payment subsidiary Alipay has integrated AI capabilities into its app, using image recognition technology to help users detect early signs of balding. This AI-powered service demonstrates Alibaba’s commitment to incorporating cutting-edge technology into its product offerings.
In its latest financial stability report, the People’s Bank of China (PBoC) addressed the ongoing challenges of regulating cryptocurrencies and decentralized finance. The central bank has called for international cooperation to effectively regulate the cryptocurrency sector. Despite 2021’s crackdown on cryptocurrency transactions and mining, China remains a significant player in the crypto-mining industry.
The Chinese government is also set to revise its anti-money laundering (AML) laws to address the growing risks associated with virtual assets. This amendment draft, discussed at a State Council meeting chaired by Premier Li Qiang, will soon be considered by the national legislature.
CertiK’s partnership with Alibaba Cloud represents a significant advancement in blockchain technology and security in Asia. By leveraging Alibaba’s powerful cloud infrastructure, CertiK is well-positioned to drive innovation and improve the reliability of blockchain applications. This collaboration, coupled with China’s growing focus on AI and evolving regulatory landscape, underscores the dynamic and rapidly evolving nature of the technology sector in the region.