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NEAR Foundation Collaborates with Alibaba Cloud to Expedite Web3 Growth in Asia

On Monday, the Swiss-based nonprofit organization NEAR Foundation entered into a partnership agreement with Alibaba Cloud to stimulate the growth of Web3 in the Asia and Middle East region. The NEAR announcement dated June 26 revealed that the partners would work together to explore viable opportunities in Asia.

For decades Alibaba Cloud has gained popularity due to its vast experience in cloud computing which is currently in high demand. Under the partnership agreement, the Chinese tech company will allow the NEAR group to access its Alibaba Cloud platform.

NEAR Foundation Partners With Alibaba Cloud

The layer-1 blockchain company projects that by improving the accessibility of the NEAR protocol, more developers from Asia and the Middle East will be allowed to create their software on the platform. In addition, tech experts willing to debut a new NEAR validator or improve the existing will utilize Alibaba’s “plug-and-play” tools. 

In a press release, the partners plan to provide the developers with remote procedure calls (RPC). An RPC is a platform that enables developers to request a service without necessarily understanding the network status of a system. The RPC technology will allow the developer to read and interpret data on the blockchain network.

According to the press release, the Alibaba and NEAR team plans to utilize the RPC technology to generate multichain indexing crucial for providing developers with data queries for the application programming interface (API).

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What Strategies Did NEAR Adopt to Stimulate Growth of Web3 Sector?

Irrespective of this, the NEAR team will allow the developers to utilize the Blockchain Operating System (BOS) to create their projects and interact with other developers on the platform. In 2022 the NEAR group rolled out the BOS platform, which will act as a common layer for developers to explore the Web3 space more effortlessly.

In a statement, Alibaba Cloud head of international Web3 solutions, Raymond Xiao, acknowledged that the collaboration with NEAR Foundation aimed at supporting Web3 developers to create revolutionary infrastructures and explore promising opportunities in the crypto space.

He affirmed that the partnership would provide developers and validators in Asia with endless opportunities. Xiao argued that the partners would enable the developers to leverage the Alibaba Cloud platform to gain market dominance.

Recently the Alibaba team has made strategic moves to expand its Web3 offering by hiring a new chairman Joseph Tsai. The newly appointed chairperson has been at the forefront of accelerating the growth of Web3 and has struck successful deals with crypto firms.

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In May, the NEAR group partnered with the prominent blockchain company Seracle to provide the public with cost-friendly innovative solutions for Web3. Before this, the NEAR team had joint efforts with Outlier Ventures to launch a 12-week Web3 accelerator program. The program aimed at supporting startups to build their projects on the NEAR protocol.


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Kimberly Crain

Kimberly Crain is a seasoned crypto trader and writer, offering valuable insights into the digital asset market. With expertise in trading strategies and a passion for blockchain technology, her concise and informative articles empower readers to navigate the evolving world of cryptocurrencies.

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