HashKey Group partners with Alibaba Cloud and PlatON to Build Technology Platform for Web3 Developers

December 7, 2022

By Anjali Kochhar

Digital Assets company HashKey Digital Asset Group has signed a Memorandum of Understanding with Alibaba Cloud and PlatON to explore potential collaborations on various projects, including co-developing and supporting an infrastructure and technology platform for developers in the Web 3.0 space.

The platform aims to provide developers with the necessary and consummate back-end technology services such as cloud computing and multi-chain Web 3.0 infrastructure including decentralised identifiers (DID) to build various Web 3.0 applications and protocols in gaming, social media and the Metaverse, among others.   

The collaboration was officially announced on November 29 at the Alibaba Cloud Summit Hong Kong 2022. Attendees at the Summit were able to claim a limited-edition digital collectable in the form of a non-transferrable Soulbound Token (SBT). The SBT was created and minted via HashKey DID and can only be claimed through its decentralised application (DApp) at www.hashkey.id.

Commenting on the development, Michel Lee, Executive President of HashKey Group, said, “As an end-to-end digital asset company, 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.”

On the other hand, Leo Liu, General Manager of Hong Kong SAR, Macau SAR and Philippines Alibaba Cloud Intelligence, said, “The applications centred around Web 3.0 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.”

Alex Tao, Head of ECO at PlatON, said, “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.”

HashKey Group is an end-to-end digital asset financial services group in Asia. HashKey Group provides a complete ecosystem across the entire digital asset landscape, ranging from trading, custody, venture investment, and 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.

About the author

Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.