The NEAR Foundation and Alibaba Cloud have formed a strategic relationship to collaborate and speed up the development of dApps and blockchain technology, marking a significant milestone for the Web3 ecosystem in Asia. This partnership is a huge step forward in encouraging creativity, improving scalability, and facilitating widespread use of Web3 solutions in the area.
NEAR Foundation partners with Alibaba Cloud
The NEAR Foundation, a non-profit organization, has partnered with Alibaba Cloud to speed up the development of Web3. On Monday, the group announced its new partnership with the computer and storage division of the Chinese IT behemoth, stating that Asia and the Middle East are primary markets.
The collaboration between the NEAR Foundation and Alibaba Cloud grants the former access to the latter’s global developer community. As a result, more programmers will be interested in working with the NEAR protocol. The business has announced that new NEAR validators would be compatible with the plug-and-play infrastructure as a service offered by Alibaba Cloud. Alibaba Cloud intelligence head of worldwide Web3 solutions Raymond Xiao said:
As part of the agreement between the NEAR Foundation and Alibaba Cloud, the NEAR Foundation can use Alibaba Cloud’s developer ecosystem in the chosen countries. This will get more coders interested in building on top of the NEAR protocol.
The company said that when new NEAR validators come out, the Alibaba Cloud plug-and-play infrastructure as a service will be available. Raymond Xiao, who is in charge of international Web3 solutions at Alibaba Cloud intelligence, stated that the partnership between the NEAR Foundation and Alibaba Cloud is important because we want to keep helping Web developers find new opportunities.
In addition, because of the new partnership between the NEAR Foundation and Alibaba Cloud, developers stand to gain in many essential ways. In addition to providing developers with a ready-to-use service infrastructure, the joint venture intends to provide remote procedure calls (RPC). User access to the RPC as a service will also be provided within the NEAR environment. Notably, a local system can make calls to remote systems via remote procedure calls.
Furthermore, the NEAR Blockchain Operating System (BOS) will be accessible via Alibaba Cloud’s platforms. The BOS has been helpful for user involvement since its release earlier this year, paving the way for users to expand upon the work of others.
There has been a major step forward in developing Web3 technology in Asia because of the collaboration between the NEAR Foundation and Alibaba Cloud. By joining forces, the two companies will be able to push the boundaries of what is possible in the distributed applications industry. This partnership will be essential in influencing the future of blockchain technology in Asia and beyond as the Web3 ecosystem develops further.
Changes in Alibaba’s executive team
In the wake of Alibaba’s announcement of a new chairman, the market learned of a relationship between Alibaba Cloud and the NEAR Foundation. After a management shakeup, Joseph Tsai was recently appointed Chairman of the Chinese IT behemoth. Tsai, a founding member of the organization, will begin his new responsibilities in September.
The new Chairman is an advocate for cryptos and an investment in Web3. The December 2021 tweet read: “I like Crypto.” The crypto bull later deleted the tweet. He did not provide any additional information on his participation in crypto-related investments, although he did make such a declaration. Tsai participated in the investment rounds for both Polygon (February 2022) and Artifact Labs (May 2023).
A new CEO was appointed as part of Alibaba’s management shakeup. Jack Ma stepped aside as CEO, and his successor, Daniel Zhang, announced that co-founder Eddie Wu would be taking over. The company’s current chief executive wrote in a memo to employees that more attention should be paid to Alibaba’s cloud operations. In light of recent developments in artificial intelligence technology, he highlighted the crucial role that cloud computing plays in the technological landscape.
The advancement of fundamental technologies like cloud computing, big data, and artificial intelligence is of critical strategic importance, as is widely known.
Meanwhile, Alibaba said in March that it would be dividing itself into six distinct businesses.