NEAR Foundation and Alibaba Cloud Partner to Boost Web3 Growth in Asia

Last Updated: 26 June 2023

The NEAR Foundation, the organization driving ecosystem development for the NEAR protocol, has joined forces with Alibaba Cloud, the computing and storage division of the Chinese tech giant, to expedite the growth of Web3 technology in Asia and the Middle East. This strategic partnership aims to attract more developers to build on the NEAR protocol by leveraging Alibaba Cloud’s extensive developer ecosystem. Additionally, the collaboration will provide developers and users with enhanced infrastructure, including remote procedure calls (RPC) and multi-chain indexing capabilities. The announcement of this partnership led to an 8% surge in the price of NEAR tokens, reaching $1.57.

Building Developer Ecosystem and Infrastructure

The NEAR Foundation plans to utilize Alibaba Cloud’s developer ecosystem across Asia and the Middle East to expand the community of developers working on the NEAR protocol. By offering access to Alibaba Cloud’s “plug-and-play” infrastructure as a service, developers will be empowered to launch new NEAR validators seamlessly. This collaboration aims to foster innovation and drive adoption of Web3 technologies within these regions.

Enhanced Services for Developers and Users

As part of the partnership, the NEAR Foundation and Alibaba Cloud will provide developers and users with remote procedure calls (RPC) as a service, enabling them to interact with blockchains and facilitate transactions across different networks. This service will be complemented by multi-chain indexing, which will offer developers a powerful data-query application programming interface (API) for seamless access to blockchain data.

Leveraging NEAR Blockchain Operating System (BOS)

Developers and users will benefit from the integration of the NEAR Blockchain Operating System (BOS) with Alibaba Cloud’s infrastructure. BOS, launched earlier this year, provides a platform for developers to build and interact with users within the NEAR ecosystem. By combining the capabilities of BOS with the robust infrastructure of Alibaba Cloud, developers and users will experience enhanced efficiency and scalability for their Web3 applications.

Positive Market Response

The announcement of the partnership between the NEAR Foundation and Alibaba Cloud has generated significant market excitement. The price of NEAR tokens witnessed an 8% surge, reaching $1.57, reflecting investor optimism regarding the collaboration’s potential to drive Web3 growth in Asia and the Middle East.

Industry Expert’s Insights

Raymond Xiao, head of international Web3 solutions at Alibaba Cloud Intelligence, emphasized the significance of the NEAR Foundation and Alibaba Cloud partnership. He stated, “It is also significant for developers and validators in the Asian markets, as they can leverage Alibaba Cloud’s comprehensive infrastructure in Asia.” This collaboration aligns with Alibaba Cloud’s commitment to supporting Web3 developers and exploring opportunities within the evolving blockchain landscape.

Conclusion

The NEAR Foundation’s partnership with Alibaba Cloud marks a significant step towards accelerating the growth of Web3 technology in Asia and the Middle East. By leveraging Alibaba Cloud’s developer ecosystem and infrastructure, the NEAR protocol aims to attract more developers and enhance their capabilities to build innovative applications. The provision of RPC services and multi-chain indexing further reinforces the commitment to empowering developers and users within the NEAR ecosystem. With the positive market response to this collaboration, the future of Web3 in Asia and the Middle East appears promising, as these regions capitalize on the opportunities presented by blockchain technology.

The strategic alliance between the NEAR Foundation and Alibaba Cloud not only marks a pivotal milestone in Web3’s expansion across Asia and the Middle East but also presents an exciting avenue for potential investors seeking to capitalize on the growth of blockchain technology in these regions. As the market responds positively to this collaboration, platforms like Bitcoin Supreme and Cryptosoft offer interested investors the opportunity to participate in the transformative potential of Web3, providing them with a gateway to explore and potentially benefit from the promising developments unfolding in the blockchain space.

Author
  • Gabriele Spapperi

    Gabriele Spapperi is a veteran cryptocurrency investor and blockchain technology specialist. He became fascinated with Bitcoin and distributed ledgers while studying computer science at MIT in 2011.

    Since 2013, Gabriele has actively traded major cryptocurrencies and identified early-stage projects to invest in. He contributes articles to leading fintech publications sharing his insights on blockchain technology, crypto markets, and trading strategies.

    With over a decade of experience in the crypto space, Gabriele provides reliable insights and analysis on the latest developments in digital assets and blockchain platforms. When he's not analyzing crypto markets, Gabriele enjoys travel, golf, and fine wine. He currently resides in Austin, Texas.

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