Alibaba Cloud, HashKey Group, and PlatON to Co-Develop Infrastructure and Technology Platform for Web3.0 Developers

Partnership will provide tools for Web3.0 developers and create an inclusive ecosystem

Hong Kong, November [29], 2022 — Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, today announced to co-create an infrastructure and technology platform for Web3 developers in partnership with HashKey Group, a Hong Kong-based end-to-end digital asset financial services group and Web3.0 infrastructure provider, and PlatON, a next-generation internet infrastructure protocol based on the fundamental properties of blockchain and supported by the privacy-preserving computation network. Alibaba Cloud also launched a Cloud Talent Program and introduced new products in Hong Kong to help local businesses constantly innovate with enhanced efficiency and security.

The platform will support Web3.0 developers with comprehensive back-end technology infrastructure, from cloud platform, multi-chain infrastructure to services such as decentralized identity(DID). The out-of-the-box tools will free developers from back-end maintenance tasks, allowing them to focus on building their Web3.0 applications in metaverse, gaming, social media, among others.

From the perspective of Web3 ecosystem, the trilateral partnership is mutually complementary and empowering. The Web3 ecosystem stack can be broadly divided into three layers from bottom up: the infrastructure layer, blockchain protocol layer and application layer, or IAAS, PAAS and SAAS as we often talk about. On the IAAS layer, Alibaba Cloud provides professional computing, storage and networking services. On the PAAS layer, PlatON, as a blockchain protocol at the bottom layer of decentralization, provides P2P network, consensus mechanism, virtual machine, privacy-preserving computation and a series of peripheral tools and services. On the SAAS layer, Hashkey offers users a variety of tools and platforms, such as hashkey Did and other services.

Representatives from Alibaba Cloud, HashKey Group, and PlatON, signed an MOU at the Alibaba Cloud Summit Hong Kong 2022, held today at Grand Hyatt hotel.

“The applications centered around Web3.0 have been booming, resulting in new innovation across sectors. To support developers and businesses better capture these emerging opportunities, we launch this new platform featured with the cutting-edge technology and service capabilities of our partners HashKey Group and PlatON, as well as the robust and resilient cloud computing architecture of Alibaba Cloud,” said Leo Liu, General Manager of Hong Kong SAR, Macau SAR and Philippines, Alibaba Cloud Intelligence.

“Leveraging our global security and compliance capability and strong infrastructure across APAC and around the world, we are in a strong position now to creating an open and enabling ecosystem as we drive the inclusive use of Web3.0 technology,” added Liu.

Michel Lee, Executive President of HashKey, said, “As a digital asset company through and through, we are a firm believer that, for Web3 to blossom and gain widespread adoption, it’s imperative for market players to work together to create a thriving and highly performant ecosystem for its users. HashKey is delighted to partner up with Alibaba Cloud and PlatON, two leading digital service providers, to bring to life a world-class infrastructure platform for Web3 developers, as we continue to lead the charge in empowering companies’ digital transformation initiatives and adding value to the wider digital asset ecosystem.”

“PlatON, as a decentralized privacy-preserving computation network, will work with Alibaba Cloud and HashKey to create a global ecosystem and community of Web3 developers centered in Hong Kong,” suggested Alex, Senior Business Director of PlatON. “Based on the professional cloud service architecture of Alibaba Cloud, we will provide global hotspot services in the fields of middleware and developer components, and jointly build a platform to facilitate continuous innovation in Web3 development worldwide. Full of expectations for the trilateral cooperation, we’re confident that we will make the Web3 community, innovation platform and regional inclusive benefit bigger under the premise of legal compliance.”

The partnership plans to create a Web3.0 ecosystem through a series of activities. For example, a regional Web3.0 Hackathon will debut in Hong Kong and spread to other Asia cities. The partners will also host offline meetups and offer online open courses on Web3.0 covering various aspects of the technology.

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About PlatON

PlatON was initiated and promoted by the LatticeX Foundation. Based on the basic properties of the blockchain and supported by a privacy-preserving computing network, PlatON provides the next-generation Internet basic protocol featuring “computing interoperability”. It builds a computing system jointly assembled by cryptographic algorithms such as verifiable computing, secure multi-party computing, zero-knowledge proof, homomorphic encryption, and blockchain technology to provide public infrastructure under an open-source architecture for global artificial intelligence, distributed application developers, data providers as well as various institutions, communities, and individuals with computing needs.

About Alibaba Cloud

Established in 2009, Alibaba Cloud (www.alibabacloud.com) is the digital technology and intelligence backbone of Alibaba Group. It offers a complete suite of cloud services to customers worldwide, including elastic computing, database, storage, network virtualization services, large-scale computing, security, management and application services, big data analytics, a machine learning platform and IoT services. Alibaba maintained its position as the third leading public cloud IaaS service provider globally since 2018, according to IDC. Alibaba is the world’s third leading and Asia Pacific’s leading IaaS provider by revenue in U.S. dollars since 2018, according to Gartner.

About HashKey Group

HashKey Group is an end-to-end digital asset financial services group in Asia. The Group provides a complete ecosystem across the entire digital asset landscape, ranging from trading, custody, venture investment, technologies to Web3 infrastructure. HashKey’s senior team has decades of investment and trading experience, strong business execution and deep market insights gained from tier-one banks, regulators and FinTech ventures. By bringing together the most advanced blockchain research and development and technologies, HashKey identifies potential opportunities and delivers end-to-end solutions that operate within regulatory frameworks with the highest compliance standards. The Group has operations in Hong Kong, Singapore and Japan, and extensive partnerships with FinTech and blockchain solutions providers, academic institutions and associations.