CertiK Leverages Alibaba Cloud for Enhanced Blockchain Development in Asia

Blockchain security firm CertiK has formed a partnership with Alibaba Cloud, the cloud computing subsidiary of Chinese e-commerce giant Alibaba.

As part of the collaboration, CertiK will migrate its cloud infrastructure in Asia to Alibaba Cloud and utilize its resources to host a suite of 12 blockchain applications.

“For over five years, we have believed in the transformative power of blockchain technology,” ,” Ronghui Gu, co-founder of CertiK, said in a statement.

“We look forward to empowering developers with secure blockchain development and deployment through Alibaba Cloud’s platform.”

CertiK and Alibaba Cloud Reinforce Collaborations

The partnership between CertiK and Alibaba Cloud was initiated in May 2023 when CertiK’s security suite became available on Alibaba Cloud’s Blockchain as a Service (BaaS) platform.

The integration allowed CertiK’s developers to conduct code reviews, risk assessments, team identity verification, and background checks using Alibaba’s cloud infrastructure.

🤝 🤝 🤝 @CertiK
With this new partnership, developers and enterprises can conduct code reviews, risk assessments, team identity verification, background checks, and more using the services and tools provided by CertiK and deployed on Alibaba Cloud. https://t.co/lHn3d6w6wY

— Alibaba Cloud (@alibaba_cloud) May 17, 2023

CertiK initially integrated its smart contract auditing and layer 1 blockchain auditing service and unveiled plans to introduce penetration testing and CertiK’s Skynet due diligence tool.

Notably, this is not the first time Alibaba Cloud has ventured into the blockchain space.

In a previous integration with Avalanche blockchain, Alibaba Cloud supported the company’s Node-as-a-Service initiatives, enabling Avalanche developers to launch new validator nodes on Alibaba’s cloud infrastructure.

The additional computing, storage, and distribution resources offered by Alibaba Cloud proved beneficial for developers dealing with high resource demands during peak hours.

Beyond blockchain and Web3 applications, Chinese entrepreneurs and investors are increasingly focusing on artificial intelligence (AI).

Four Chinese startups specializing in generative AI recently surpassed valuation marks of $1 billion, positioning themselves as competitors to established players like OpenAI.

These startups, including Zhipu AI, Moonshot AI, MiniMax, and 01.ai, have received substantial support from local investors and are actively seeking talent to develop innovative AI products.

Just recently, Alibaba’s payment subsidiary, Alipay, introduced an AI feature on its payments app.

The AI service utilizes image recognition technology trained on thousands of medically relevant images to help users detect early signs of balding.

Users can upload pictures of their scalps, and the app provides suggestions, including recommendations for medical care when necessary.

China’s Central Bank Addresses Crypto Regulation

In its latest financial stability report, the People’s Bank of China (PBoC) addressed issues related to cryptocurrency regulation and decentralized finance.

The Chinese central bank emphasized the need for joint efforts by different countries to regulate the industry effectively.

In 2021, the PBoC announced measures to combat the adoption of cryptocurrencies in mainland China, advocating for stronger inter-departmental coordination to crackdown on crypto activities.

Despite the ban on virtually all crypto transactions and cryptocurrency mining, mainland China has remained a major crypto-mining hub.

As reported, China is set to revise its outdated Anti-Money-Laundering (AML) law in a bid to tackle the increasing risks associated with virtual assets.

The draft amendment, discussed at a State Council meeting chaired by Chinese Premier Li Qiang, will soon undergo review by the national legislature.