News of the partnership between Alibaba Cloud and the NEAR Foundation, hit the market shortly after Alibaba announced the new chairman.
Non-profit organization NEAR joins forces with Alibaba Cloud to accelerate Web3 growth. On Monday, the organization revealed its new relationship with the computing and storage arm of the Chinese technology giant, indicating that the target is Asia and the Middle East.
A collaboration between the NEAR Foundation and Alibaba Cloud
Under the partnership between the NEAR Foundation and Alibaba Cloud, the former will have access to the latter’s developer ecosystem across selected jurisdictions. This will bring additional developers on board to build on the NEAR protocol. Talk to CoinDesk, the company stated that the plug-and-play Alibaba Cloud-as-a-Service infrastructure will be available when new NEAR validators are launched. Raymond Xiao, Head of International Web3 Solutions at Alibaba Cloud Intelligence, commented:
“The partnership between the NEAR Foundation and Alibaba Cloud is an important one as we continue to support web developers to explore opportunities.”
Moreover, developers enjoy multiple benefits due to the new alliance between NEAR Foundation and Alibaba Cloud. The joint venture plans to offer remote procedure calls (RPC) as a service to developers, as well as plug-and-play infrastructure as a service. RPC as a Service will also be available to users in the NEAR ecosystem. Notably, remote procedure call is used to call other processes on remote systems, such as the local system.
In addition, users of Alibaba Cloud infrastructures will also be able to use the NEAR Blockchain Operating System (BOS). Since its launch earlier this year, BOS has been helping with user interaction, allowing them to build into each other.
Alibaba management restructuring
News of the partnership between Alibaba Cloud and the NEAR Foundation, hit the market shortly after Alibaba announced the new chairman. The Chinese tech giant recently restructured its management and made Joseph Tsai its new chairman. Tsai is a founding member of the group and will assume his new role in September. The newly announced chairman is a staunch cryptocurrency supporter and an active investor in Web3. The crypto bull once tweeted, “I love Crypto” in December 2021. While he did not add more details to his announcement, he did take part in cryptocurrency-related investments. Tsai participated in Polygon’s funding round in February 2022 and Artifact Labs’ round in May 2023.
Part of Alibaba’s management restructuring also included a change in its CEO. Co-founder Eddie Wu will take over from Daniel Chang, who took over after Jack Ma stepped down. The current CEO indicated in an internal memo that Alibaba needs to shift its focus on its cloud business. He stressed the important relationship between cloud computing and technology, especially in the wake of new AI technology.
“As everyone knows very well, the development of basic technologies such as cloud computing, big data and artificial intelligence will lead to a massive transformation of our society and will be of utmost strategic importance.”
Meanwhile, according to the March announcement, Alibaba plans to split the company into six units.
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Ibukun is a crypto/financial writer interested in passing on relevant information, using uncomplicated words to reach all types of audiences. Apart from writing, she loves watching movies, cooking, and exploring restaurants in the city of Lagos where she is staying.