Empowering the Next Chapter of Web3: Alibaba Cloud at Consensus Hong Kong

Against the stunning backdrop of Victoria Harbour, Consensus Hong Kong brought together a diverse and dynamic community of Web3 enthusiasts from February 19 to 20. This esteemed event provided a platform for forward-thinking individuals to convene, collaborate, and chart the course for the industry's future growth. Alibaba Cloud seized the opportunity to demonstrate its cloud and AI solutions designed to meet the unique needs of the industry. The company's innovative offerings and industry expertise captured the attention of attendees and leaders alike, reaffirming its commitment to empowering the community and driving progress in the digital landscape.

Alibaba Cloud's "Exploring Next-Gen Web3 Technology" meetup, held in the afternoon of the first day, was a resounding success. The event provided a platform for attendees to engage in exchange and discussion on the latest Web3 trends, regulatory compliance, and innovative technical solutions.

Xiao Yu, General Manager of Alibaba Cloud's Fintech Unit, hosted the meetup. Paul Li, President of the Hong Kong Fintech Industry Association, delivered the opening remarks, highlighting the rapid evolution of the Web3 industry in Hong Kong. He noted two key transformations shaping the industry: a shift from non-regulated model to more compliance-driven regulated models, and an expansion from serving primarily Web3 native investors to mass adoption. Paul emphasized that this accelerated growth requires robust technological infrastructure, with cloud migration serving as a pivotal step in unlocking new development opportunities.

Lennix Lai, Global Chief Commercial Officer of OKX—a global top-tier digital asset exchange—shared a real-world example of how they are staying ahead of the curve. He demonstrated how the company's cloud-based Web3 DEX infrastructure platform, leveraging Alibaba Cloud's advanced technologies, is ensuring institutional-grade trading velocity, and the security and availability of user assets.

The subsequent keynote address was delivered by Zhao Qingyuan, Chief Solution Architect of the Fintech Unit at Alibaba Cloud. As the technical leader of the company’s dedicated Web3 technical team, Zhao underscored the stringent requirements of Web3: security, stability, low latency, global accessibility, and robust data analysis capabilities—all essential for global user protection and service reliability. He explained how Alibaba Cloud provides optimal solutions to these challenges, leveraging its cutting-edge technical capabilities, AI technologies, and global infrastructure to empower Web3 innovation.

Zhao began by outlining Alibaba Cloud's end-to-end Web3 solutions tailored for Web3 customers like OKX. These solutions span a wide range of scenarios, including trading system management, big data analytics and management, global acceleration, and security. Engineered with industry-leading capabilities, these solutions empower Web3 enterprises to thrive in today's fast-paced markets. For example, Alibaba Cloud's 10x Burst capability and elastic scaling of up to 10,000 pods per minute enable Web3 enterprises to efficiently process large volumes of transaction data, while maintaining agility in response to workload fluctuations.

Zhao also highlighted the transformative power of AI. As a trailblazer in innovation, Alibaba Cloud is at the forefront of AI advancement. He explained that Alibaba Cloud has developed and open-sourced many versions of Tongyi models, including large language models (LLMs), multimodal models, and scenario-optimized models , to foster widespread AI adoption. Alibaba Cloud also offers comprehensive support for AI development projects throughout their lifecycle, including training, fine-tuning, and inference. Leveraging Alibaba Cloud's one-stop GenAI platform, developers can build intelligent applications using many of today's mainstream models, unlocking new avenues for Web3 innovation and growth.

Underpinning these capabilities is Alibaba Cloud's robust global infrastructure, encompassing 3,200 POPs in 87 zones across 29 regions. With this vast infrastructure, they can provide performant and reliable services to users worldwide, ensuring a seamless and globally-consistent experience.

The meetup also delved into the critical importance of technological compliance, with Tom Jenkins, Head of Risk Consulting at KPMG Hong Kong, offering expert guidance on the requirements for obtaining a virtual asset trading platform license in Hong Kong. Anson Lam, Regional Security Compliance and Privacy Lead at Alibaba Cloud, followed up by explaining the cloud technology compliance requirements and highlighting how Alibaba Cloud empowers Web3 customers with its robust security and compliance capabilities. Alibaba Cloud's impressive portfolio of over 140 international professional certifications and compliance qualifications serves as a testament to its commitment to supporting customers in their global business expansion.

In addition to providing industry insights, the event also fostered a dynamic environment that encouraged open communication, exploration, and community engagement. The Alibaba Cloud booth was bustling with dynamic interactions and in-depth discussions. The OpenTalk sessions were a highlight, during which Alibaba Cloud technical experts shared the latest technological advancements and best practice case studies.

Positioned at the forefront of technological innovation, Alibaba Cloud is strategically poised to redefine the Web3 ecosystem through its robust global infrastructure, advanced technological capabilities, rigorous compliance frameworks, and seasoned technical support professionals, aiming to co-create transformative digital landscapes with industry partners.