Digital technology and Alibaba Group backbone Alibaba Cloud made an announcement to jointly develop the technology and infrastructure platform for Web3 developers. In this venture, Alibaba Cloud is supported by PlatON and HashKey Group.

PlatON is a next-generation internet infrastructure protocol that connects the world of cryptocurrencies with the real world. It is based on the fundamental properties of the blockchain and is backed by a confidential computer network. HashKey Group, on the other hand, is a financial services provider of digital assets and web3 infrastructure.

The new company aims to support Web3 developers with inclusive back-end technology infrastructures, such as multi-chain infrastructure, cloud platforms, and decentralized identity services. Exceptional tools will free developers from back-end maintenance tasks and allow them to focus on developing their Web3 applications in the metaverse, social networks, and games.

The trio’s collaboration is interconnected and strengthens from the perspective of the Web3 ecosystem. The Web3 ecosystem can be segregated into three layers. The background would be the infrastructure layer; and above, a blockchain protocol layer; and the top would be the application layer, such as PAAS, IAAS, and SAAS.

Alibaba Cloud provides professional computing, storage and network services to the upper layer of IAAS. Similar to the PAAS layer, PlatON would provide a peer-to-peer network and similar confidential tools and services. Finally, in SAAS, Hashkey would provide users with various tools, platforms, and other services.

Officials from HashKey Group, Alibaba Cloud, and PlatON endorsed an MOU at the Alibaba Cloud Summit in Hong Kong in 2022. The association aims to build a Web3 ecosystem with numerous projects. The group also plans to host offline meetups offering open source courses on Web3 technology.