In a significant development for the growth and adoption of digital assets in the Asian region, the Aptos Foundation has announced a collaboration with Alibaba Cloud, the digital technology and intelligence backbone of the Alibaba Group.
This partnership aims to expand Japan’s Web3 ecosystem and improve regional accessibility, marking a milestone in developing Asia’s Web3 landscape.
Aptos Foundation And Alibaba Cloud Launch Alcove
As announced on Friday, the collaboration has led to the launch of Alcove, Asia’s first co-branded Move developer community, which seeks to foster innovation and boost digital accessibility across the region.
Alcove’s primary goal is to amplify the impact and proliferation of the Move smart contract programming language among developers. By leveraging Move on Aptos’s security, speed, and scalability, the partnership aims to drive mass adoption of digital assets in the Asia-Pacific region.
According to the Foundation, Japan, with its regulatory framework and “tech-savvy populace,” is uniquely positioned to promote the benefits of Web3 and digital assets globally.
In addition, to accelerate on-chain development, the Aptos Foundation spearheads a series of initiatives through Alcove.
The first of these initiatives is a Move developer meetup co-hosted by OKCoin Japan and Alibaba Cloud to provide developers and equip them with tools and knowledge to realize real-world use cases.
Web3 Development And Innovation
The announcement also revealed that the Aptos Foundation will organize a series of hackathons for the Alcove community using technology provided by Alibaba Cloud.
These hackathons are designed to cultivate emerging talent in the Web3 space, allowing participants to learn from industry leaders and inspire the next generation of Web3 developers and innovators.
Bashar Lazaar, Head of Grants and Ecosystem at Aptos Foundation, expressed enthusiasm for the collaboration, stating:
Partnering with the Alibaba Cloud team and with the help of their technology, we aim to create a vibrant environment that allows Japan’s growing interest in Web3 and IP strengths to flourish. As the foundation working to expand Aptos’ ecosystem worldwide, we’re committed to creating the best user experiences for the next generation of developers, in Japan, APAC, and beyond.
Overall, this collaboration between the Aptos Foundation and Alibaba Cloud represents a significant step toward advancing Japan’s role in the global Web3 landscape.
At the time of writing, Apto’s native token APT was trading at $7.00, representing a 24% price decline in the monthly time frame, following the steps of the largest cryptocurrencies in the market, which also recorded price corrections in the past month. APT is trading 65% lower from its all-time high of $19.92, reached on January 2023.
Featured image from DALL-E, chart from TradingView.com