Alibaba Cloud to Launch Security Tools for Web3 Developers and Enterprises

Global cloud leader announces partnerships to build Web3 ecosystem at its first Web3 event in Hong Kong

Hong Kong SAR, March 17, 2023 – Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, announced today at its first 2WEB3 FEST event in Hong Kong that it is launching a suite of plug-and-play Web3 security tools in April this year. The cloud leader also announced that it will form respective partnerships with Blockchain Academy and NodeReal to build Hong Kong’s Web3 ecosystem.

Developers and enterprises can apply the security tools for various Web3 security scenarios to support the functions of private key management, risk assessment, transaction review, compliance and user authentication. The security tools, which include MPC (Multi-Party Computation), KYC (Know Your Customer), and AML (Anti-Money Laundering) services, will help Web3 developers protect their information, reduce manpower and improve operational efficiency.

Building on the MPC (Multi-Party Computation) technology, the private key management solutions will enhance the protection of private keys from cybertheft. The AML solutions support developers in fulfilling their AML compliance to step up risk management, while the KYC solutions can be applied for user authentication. The tools integrate capabilities of Alibaba Cloud and the industry-leading web3 technology providers including Safeheron and SlowMist.

Later this year, Alibaba Cloud’s blockchain node service will be available for Web3 developers in Hong Kong. With Alibaba Cloud’s scalable, high performance and stable infrastructure, the node-hosting service will monitor the nodes and automatically switch in case of an outage. Developers are no longer required to physically monitor or mitigate problems, enabling them to focus more on product development, increasing the speed of product roll-outs. Alibaba Cloud’s world-class security and global compliance capabilities also prevent unauthorized access to the nodes and protects them from DDoS attacks.

The Honorable Paul CHAN Mo-po, GBM, GBS, MH, JP, Financial Secretary of the Government of the Hong Kong Special Administrative Region, joined Alibaba Cloud’s event with a video message

The Honorable Paul CHAN Mo-po, GBM, GBS, MH, JP, Financial Secretary of the Government of the Hong Kong Special Administrative Region, joined Alibaba Cloud’s event with a video message: “I’m delighted to open the 2WEB3 FEST in Hong Kong. Covering a wide range of forward-looking topics, including Web3 talent development, transformation of enterprises, technology applications, and regulatory modes, etc., the agenda of the event touches on the key focus areas of the HKSAR Government in promoting the development of Web3. The Internet has evolved over time, and so has its ecosystem and technology. From Web1 to Web2 to Web3, each generation of technological innovation had transformed existing business models, while creating new applications and opportunities for the betterment of the society and economy. We should fully embrace Web3 and remain forward-looking to become a leader in innovation.”

Leo Liu, General Manager of Hong Kong SAR, Macau SAR and Philippines, Alibaba Cloud Intelligence

“Even at its early stage of development, Web3 in Hong Kong has shown huge potential, especially with strong support from the government. Alibaba Cloud will provide robust, secure and high-performance technology platforms and intelligence tools for Web3 developers in Hong Kong to build their own applications in areas such as metaverse, gaming, and social media,” said Leo Liu, General Manager of Hong Kong SAR, Macau SAR and Philippines, Alibaba Cloud Intelligence. “We are committed to building a thriving ecosystem to drive the growth of Web3 in Hong Kong, as this will also enable our customers to capture new business opportunities and provide consumers with more user-friendly and immersive experiences.”

Partnerships to build the Web3 community

Blockchain Academy, the largest Web3 Gen Z education platform and community in Asia and a non-profit organization dedicated to nurturing and developing the next generation of Web3 talent, has entered into a partnership with Alibaba Cloud. The partnership aims to provide young talent and start-ups with more learning, career and business opportunities through building a new Web3 community to host blockchain education events and competitions, as well as providing training and incubation for start-ups.

“Web3 is a game-changing technology and Blockchain Academy is committed to identifying resources to enable young students and entrepreneurs to capture opportunities arising from the development of Web3. We are excited to partner with Alibaba Cloud to build closer connections between academy and business that will add momentum to innovation in Hong Kong,” said Andy Liu, Co-founder of Blockchain Academy.

To boost the mass adoption of Web3, Alibaba Cloud will cooperate with NodeReal, a leading blockchain infrastructure provider distinguished for its scalability, reliability, and efficiency, to promote Web3 Enterprise Solutions in Asia. NodeReal will build its node on Alibaba Cloud’s platform and offer blockchain services to its users, including Blockchain As A Service (BaaS), Explorer As A Service (EaaS), Validator As A Service (VaaS) and storage. NodeReal’s expansive roster of partners includes the likes of Cocos-BCX, the leading scaling provider for the Web3 gaming ecosystem.

“Businesses today recognize that getting into Web3 is no longer a luxury, but a necessity to have that competitive advantage. At NodeReal, our goal is to transform today’s Web3 applications and blockchain technologies with mass adoption in mind. Working with Alibaba Cloud’s robust, secure, and high-performance infrastructure will enable us to accelerate our mission to make your Web3 Real.” said Dr. Ben Zhang, Co-Founder & COO, NodeReal.

Alibaba Cloud’s 2WEB3 FEST Hong Kong 2023 invites participants to join extensive discussions and dialogues on a variety of Web3 topics including opportunities in Hong Kong, Metaverse, NFT, virtual assets, and regulation and security.

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.