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DogeMiyagi, Avalanche, Polkadot: The Best Community Driven Crypto Investments This Year

By
TI Partners
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0

The community has become crucial for individuals considering the best crypto investments. Strong communities can enhance the appeal of tokens, enhance knowledge on how to buy crypto and keep users updated with crypto news, updates and the latest presale mania.

DogeMiyagi ($MIYAGI), Avalanche (AVAX) and Polkadot (DOT) have taken unique approaches to community development, using the power of their strong communities for success. 

DogeMiyagi: Presale Mania Begins!

As a new meme coin, DogeMiyagi will harness the power of the community to thrive in the market. It aims to go beyond the existing meme coins in the market and act as a shining example of utility, community spirit and reliability. Built on the strong technical foundation of the Ethereum network, DogeMiyagi will offer security, scalability and trust in the meme coin space, offering users the best experience possible.

The project is community-driven, demonstrated through its decentralised autonomous organisation (DAO). The DAO will give every $MIYAGI holder a say in the project’s direction, and they will be able to vote on important decisions. The community can expect enticing giveaways, rewards and NFTs along the way to spark even more engagement.

To build the community in presale, DogeMiyagi has also introduced a unique referral program. When holders invite a new investor to join the community and purchase $MIYAGI tokens, they will receive a 10% commission automatically awarded to their wallet. This will help the community to grow organically, and every $MIYAGI is empowered to be an ambassador for the project. 

Polkadot: Fostering Community and Interoperability

As an established player in the market, Polkadot has gained significant attention and a strong community of investors. Polkadot operates on a multi-chain network and aims to enable interoperability and scalability, creating a decentralised web where multiple blockchains can seamlessly connect and interact. It focuses on providing secure and efficient solutions for its users and developers.

Polkadot’s governance structure relies on stakeholders who possess DOT; they then participate in votes on proposals submitted by the community. This process is weighted by the amount of DOT held, but every holder can have a say. Polkadot’s ecosystem thrives on creativity and community development, and another notable advantage is the ability for users to interact with NFTs, virtual reality and gaming on the Polkadot network. 

Avalanche: Empowering Innovation and Community Governance 

Avalanche is another established cryptocurrency, boasting impressive features and strong community backing. Avalanche is favoured for its novel consensus protocol, which contributes to the network’s quick finality, high throughput and energy efficiency. It also stands out for its commitment to decentralisation and community development.

This approach encourages the community to be involved in the platform’s governance, participation and decision-making, which ensures that the Avalanche’s development is aligned with the community’s desires. Avalanche also provides an open-source framework that encourages creativity and provides developers with the tools to create and launch their dApps and tokens.

The success of cryptocurrencies is increasingly tied to their ability to build strong communities. DogeMiyagi, Avalanche and Polkadot have joined this trend through their unique approaches to community development, leveraging the power of their communities to thrive in the crypto market.

 

For more about DogeMiyagi:

Website: https://dogemiyagi.com

Twitter: https://twitter.com/_Dogemiyagi_

Telegram: https://t.me/dogemiyagi

General Licensing Conditions For Value Added Services (VAS) Licensing in Nigeria

By
Emmanuel Ifeanyi Ogbuka
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0

This focus of this article will be the general conditions as outlined by the Nigerian Communications Commission (NCC) for the grant of licensing for Value Added Services VAS in Nigeria as distinct from the provisions of the NCC VAS framework which was the focus of a previous article in my Telecomms Law article series. These conditions will thus treated in detail serially

Definitions.

 “Value Added Services” means enhanced or value added communication data and/ or voice services that act on the format, content, code or protocol of information in order to provide the user with additional or different information or that involves subscriber interaction with stored information, including computer and data processing services, data information and exchange services, but excluding transmission services to or over the internet. 

General Conditions 

Compliance with the Act and Regulations 

-The licensee shall comply with the provisions of the Act and regulations made thereto and with any direction, determination or order that the act provides for the NCC to give or make.  

Approval of Tariffs, Terms and Conditions 

-The licensee shall lodge a notice of tariffs with the NCC which sets out in relation to each kind of service that the licensee proposes to offer:

(a) a description of the service; 

(b) details of the nature and amounts of charges payable for the service, and 

(c) the method adopted for determining the charges. 

– If the charges in the tariff plan vary, in nature, in their amounts or both, the notice must set out, why and how the charges vary.

 – The notice must be precise and detailed enough to be used to work out the nature and amounts of charges payable for the supply of the particular service. 

– The notice of tariffs lodged with the NCC must state the period 

(i.e. the term) for which it is to be in force. The term must not begin until approval for the tariffs is given by the NCC or at a time when a previous tariff of the licensee on the same service is still in force. 

-The licensee shall not impose any terms and conditions for the provision of any specified telecommunications service until such terms and conditions have been approved by the Commission.

Prohibition of Cross-Subsidies 

-The licensee shall ensure that his business under this Licence is not unfairly cross-subsidised from any other source, except in cases where the licensee is under an obligation to provide service at a place in an area in which the demand or the prospective demand for the service is not sufficient, having regard to the revenue likely to be earned from the provision of the service in the area, to meet all the costs reasonably to be incurred by the licensee in providing the service there, including; 

  • the cost of equipment necessary for the provision of the service there;
  • the cost of installing, maintaining and operating such equipment for the purpose of providing service there, and
  • the cost of the trained manpower necessary to provide the service there; in which case prior approval shall be obtained from the Commission. 

Prohibition of Linked Sales  

– The licensee shall not make it a condition of: 

(a) providing any telecommunication service; 

(b) supplying any telecommunication equipment; that any person should acquire from the licensee or from any other person specified or described by the licensee; 

  • any telecommunication service other than the telecommunication service requested save where that service cannot be provided without the provision of that other telecommunication service; or
  • any telecommunication equipment not incorporated in the 

systems supplied save where the telecommunication service requested cannot otherwise be provided or the telecommunication equipment cannot otherwise be used. 

– Except where the Commission has agreed otherwise, the Licensee shall not do any of the things described in the relevant provisions of NCC licensing conditions together with the other thing in a manner or for charges or on terms or conditions more favourable than would be available for doing one thing without that other thing. 

–  Notwithstanding relevant provisions of NCC Licensing conditions,the licensee may where it supplies as part of the same transaction or interconnected series of transactions two or more items of telecommunications equipment, offer quantity discounts or more favourable terms and conditions in respect of quantity in relation to such equipment which it so supplies whether those items or equipment are of the same or different description.

Prohibition on Undue Preference and Undue Discrimination 

– The licensee shall not (whether in respect of charges or other terms or conditions applied or otherwise) show undue preference to or exercise undue discrimination against any particular person or persons of any class or description in respect of;

(a) the provision of a service under this licence; or

(b) the connection of any equipment approved by the commission.

– The licensee shall be deemed to have shown such undue preference or to have exercised such discrimination if it unfairly favours to a material extent a business carried on by it or by its lawful telecomms associates in relation to any of the matters raised in the relevant provisions of the licensing conditions of the NCC so as to place at a significant competitive disadvantage persons competing with that business.

–  Any question relating to whether any act done or course of conduct 

pursued by the licensee amounts to such undue preference or such undue discrimination shall be determined by the commission, but nothing done in any manner by the licensee shall be regarded as undue preference or undue discrimination if and to the extent that the licensee is required to do that thing in that manner by or under any provision of this Licence. 

Code of Practice for Consumer Affairs 

– The licensee shall in consultation with the commission, prepare and publish in accordance with provision 2.9 of the NCC Licensing conditions not later than three (3) months after the date the provision of a telecomms service comes into operation a code of practice including:- 

(a) Guidance to their customers and employees in respect of disputes or complaints relating to the provision of service by them; 

(b) Advice to such customers on charging, billing and enquiries in relation thereof; and

(c) Advice and procedures on the proper use of the service by such customers.

 -The licensee shall consult with the commission once every year about the operation of the code of practice. 

Code of Practice on the Confidentiality of Customer Information

-The licensee shall take all reasonable steps to ensure that its employees who are engaged in the licensed Telecomms undertaking observe the provisions of a code of practice which:

(a) specifies the persons to whom they may not disclose information about a customer of the licensee or that customer’s business which has been acquired in the course of the telecommunications business without the prior consent of that customer; 

(b) regulates the information about any such customer or his business which may be disclosed with his consent.

-The licensee shall within Three (3) months of the date on which this Licence enters into force submit a draft of the code of practice to the commission for its approval and if the licensee and the Commission fail to agree on the provisions of the code they shall be determined by the commission.

-This condition is without prejudice to the duties at law of the licensee towards its customers .

Arbitration of Disputes with Customers  

– If the licensee provides switched telecommunications services it shall include in the standard terms and conditions on which it provides telecommunication services provisions giving persons who have entered into contracts with it for the provision of telecommunication services by the licensee the opportunity to refer to an inexpensive independent arbitration procedure, instead of to a court of law, any dispute relating to the provision of these services which does not involve a complicated issue of law or a sum greater than such sum as the commission may from time to time determine. 

– The arbitration procedures and the method of appointment of the arbitrators shall be subject to consultation with the NCC. 

Transfer of Licence 

– The licensee shall not transfer or assign its Licence to another party without the written approval of the commission. 

– A person to whom a licence is to be transferred shall apply to the NCC for a licence to carry on the relevant telecommunications undertaking on the prescribed application form and shall satisfy the conditions set down by the commission before any transfer of licence may be considered. 

– Where the licensee seeks to transfer its licence to another person, it shall comply with all terms and conditions of its licence as at the date of transfer; and shall have paid all outstanding fees to the commission.

– The NCC may decline any application for transfer of licence and provide reasons in the event of non approval.

Approval of Joint Ventures  

– The licensee shall give particulars of any of the agreements or arrangements to which this condition applies for approval of the commission before the taking into effect of such agreements or arrangements. 

-These agreements and arrangements are: 

(a) an agreement with any person for the establishment or control of any body corporate for the purpose of: 

  • providing telecommunications services in Nigeria which requires a licence; or
  • the production of telecomms equipment for supply in Nigeria where that production would lead to a monopoly situation which would not otherwise exist in relation to the supply of telecommunications equipment of any description in Nigeria; 

(b) an agreement for the establishment of a partnership for any of these purposes and in those circumstances; 

(c) any other agreement or arrangement in the nature of a joint venture for the purpose of providing telecommunications services which requires a mcence.

Associates  

– Without prejudice to the licensee’s obligations under these conditions in respect, in particular, of anything done on its behalf, where; 

(a) any Associate of the Licensee does anything which the Licensee is prohibited from doing under these conditions or fails to do anything which the licensee is in the circumstances required to do; and  

(b) the NCC is of the opinion: 

  • that in consequence the licensee is seeking to or is in a material and substantial way avoiding obligations which would apply under these conditions if the thing had been done or not done by the licensee; and 
  • that having regard to the duty imposed on it by Section 4 of the Communications Act it ought to make a direction under this fondition, then the licensee shall take such reasonable steps to ensure that the associate ceases to do that thing or otherwise to remedy the matter as the NCC directs him to take. 

– For the purpose of this condition a person is an associate of the licensee if he is a subsidiary of or another body corporate controlled by it. 

Pre-Notification of Changes in Shareholding 

– The licensee shall notify the commission of any change in the control of any of the shares in the licensee to which this condition applies and any such notification shall be given as soon as practicable after the change in question is proposed. 

Payment of Fees 

– In consideration for the granting the licensee the right to operate and provide the service, the licensee shall pay to the commission: 

(a) The licence fee; and  

(b) An Annual Operating Levy which shall be assessed at one percent 

(1%) of the Licensee’s Net Revenue for the relevant period being its Gross Revenue less such costs as may be stipulated in the AOL Regulations.

-The most recent audited account or where this is not available, the management account or any other account or projection of the licensee’s operations will be admitted for the purpose of calculating the turn-over for the year under consideration and may be duly adjusted when the years audited account becomes available. 

– The commission shall determine the licence fee payable for and in respect of any renewal of the licence. 

Requirement to furnish Information to the Commission

– The licensee shall furnish to the NCC, in such manner and at such times as the cmmission may request, such documents, accounts, estimates, returns or other information and procure and furnish to it such reports as it may reasonably require for the purpose of exercising the functions assigned to it by or under the act.

Revocation 

– Notwithstanding provisions of this licence the commission may at any time revoke this icence by Twelve (12) Months notice in writing given to the licensee at its registered office where the licensee is in breach of any of the conditions attached to this Licence and the breach has not been rectified within Twenty one (21) days after the NCC had notified the licensee of the breach.

– Notwithstanding the provisions of the conditions of this litcence the NCC may at any time revoke this licence by Three (3) months notice in writing given to the licensee at it’s registered office in any of the following circumstances: 

(a) if the licensee agrees in writing with the commission that this licence be revoked; 

(b) if the licensee ceases to carry on its business for which this licence is granted;

(c) if any amount payable under NCC VAS licensing conditions is unpaid Fourteen (14) days after it became due and remains unpaid for a period of Fourteen (14) days after the Commission notified the Licensee that the payment is overdue, such notification not to be given earlier than the sixteenth day after the day on which the payment became due; 

(d) if within Six (6) months of the granting of this licence, the licensee has not commenced full operation to the satisfaction of the Commission;

(e) if the Licensee fails to ensure that it’s equipment is type approved by the commission or a body approved by or accredited to the commission; 

(f) if the Licensee: 

  • is unable to pay its debts,
  • enters into receivership or liquidation,

 iii. takes any action for voluntary winding-up or dissolution or such action is taken by any other person or enters into any scheme of arrangement (other than in any such case for the purpose of reconstruction or amalgamation) upon terms and within such period as may previously have been approved in writing by the NCC or if a receiver or trustee is appointed or if any order is made for it’s compulsory winding-up or dissolution. 

Exceptions and Limitations

Unless the context otherwise requires the licensee’s obligations under these conditions shall have effect subject to the following exceptions and limitations: 

– The licensee shall not be held to have failed to comply with an obligation imposed upon it by or under these conditions if and to the extent that the licensee is prevented from complying with that obligation by any physical, topographical or other natural obstacle, by the act of any national authority, local authority or international organisation or as a result of fire, explosion, accident, emergency, riot or war.

Amendment of the Licence

– Subject to the conditions mentioned below, the NCC may amend this licence from time to time where objectively justifiable if the NCC determines that such modification or amendment is necessary to achieve the objectives of the act or any relevant regulations, or is in the public interest, taking into consideration the reasonable interest and contractual rights of the licensee.

– Before modifying or amending this licence, the commission shall give the licensee written notice of its intention to do so together with a draft copy of the intended modification or amendment, and the licensee may make submissions to the commission by submitting them to the commission within the time period specified by the commission but not less than Thirty (30) days from the date of the written notice. 

– After expiry of the notice specified in the condition above-mentioned, the NCC shall decide on the next cause of action, taking into consideration any submission made by the licensee and the principles of fair competition and equality of treatment, amongst others. 

-Any modification or amendment to this licence shall be made in accordance with the procedures laid down for such purposes and shall be published by the commission.

Digital Banking Platform Eyowo Lays Off 11% of Its Workforce, Debunks Shut Down Rumour

By
Ojukwu Emmanuel
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0

Nigerian digital banking platform Eyowo has laid off 11% of its workforce, which is about 13 employees, and has debunked rumors that it is shutting down operations.

In an official statement sent to employees, Eyowo’s executive informed them about the significant changes that will take place at the company.

The company’s executives clarified that the company is decommissioning a product—Kwiksell, a retail management tool and has let go of employees whose roles have consequently become redundant.

It further added that the new operating model will enable it to build an innovative product that will make money & life choices better, provide answers to people, and drive a scalable business model.

Part of the statement reads,

“We are pivoting into a financial technology platform that provides financial connectedness and intelligence for everyday money & living choices to everyone with a smartphone. This will mean we can deliver revenue to selected entrepreneurs and offer a personal financial and life guide to everyone with a smartphone.

“We want to prioritize providing intelligence for better decision-making to our users in their money and life choices, as such we would no longer offer the inventory capabilities of Kwiksell while its payment services remain the same. This change will NOT in any way affect our product (Eyowo X) in the market and the capabilities we currently provide our users including the ongoing improvements to restore all services.

“It will only enhance it with more intelligence. This new operating model will enable us to build an innovative product that will make money & life choices better, provide answers to people and drive a scalable business model. Our pivot in business and operating model will affect 11% of our workforce, whose work efforts are directly impacted by the new direction and internal changes”.

Eyowo executive team further added that the change implemented will now see the company function as a Human-to-Human company as all its products will be direct to consumers and selected entrepreneurs within its ecosystem of growth.

Through this, Eyowo looks forward to building a company that will leverage the advancements in science and engineering to enable connectedness and growth for all humans.

Recall that last month, the digital bank had its license revoked by the Central Bank of Nigeria (CBN), along with 46 other microfinance institutions.

According to the CBN, it revoked the licenses of these companies because they had either remained inactive, insolvent, failed to render returns or closed shop. This saw Eyowo disclose to its users that they won’t be able to transfer or receive money from their accounts for a while because of the restriction from the Apex Bank.

While noting that it is actively working with the apex bank to resolve the issue, the digital bank however assured customers that their money was still intact.

Notably, with the revocation of its license, the bank has been disconnected from other banks in the country. Hence, Eyowo said it is also working with its partner banks to fix the problem.

Why Buhari Did Not Remove Fuel Subsidy in Nigeria – Former Special Adviser

By
Samuel Nwite
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0

Former Special Adviser on Media & Publicity to former President Muhammadu Buhari, Garba Shehu, on Monday, tried to explain why the past government led by his principal did not remove fuel subsidy and other subsidies despite the financial burden it brought upon the federal government.

In a note titled: ‘Buhari Didn’t Fail To Remove Subsidy’, Shehu said the decision would have added fuel to the existing tension in the country – which would have cost the ruling All Progressive Congress (APC) the presidential election.

He explained that while Buhari did not remove fuel subsidy, he removed other budget-busting, egregious, economic-growth-crushing subsidy along the way. Shehu disclosed that the decision hung largely on vested party interest, resulting in a lack of political will from the president to act.
Amid claims that it was riddled with corruption, fuel subsidy gulped trillions of naira from 2015 to 2023, resulting in budget deficits despite the government’s borrowings to fund the subsidy.

Buhari’s administration had fixed early this year to remove the subsidy in line with the timeline of the Petroleum Industrial Act (PIA), but it was shifted to June. Without a provision for the payments of fuel subsidy in the 2023 Appropriation Act, the subsidy was inevitably removed by President Bola Tinubu last month.

Read Garba Shehu’s full note below:

Why did it take the new Tinubu/ Shettima presidency weeks to remove the petrol subsidy when Buhari didn’t do so for years fails to ask the right question.

The massive electricity subsidy. The fraudulent fertilizer subsidy. Hajj/Christian Pilgrim subsidies.
Remember them?

The diesel subsidy. The aviation fuel subsidy. LPFO. Kerosene. Cooking gas and the other subsidy policies we found in place and put them firmly on the ground. Remember them?

For those with short memories, many of those subsidies were all in place when President Buhari was elected to office in 2015: all those in place were gone by May 2023 – including the annual fertilizer subsidy that weighed 60-100 billion Naira (that’s
trillion naira in about 10 years – yes you read that right) heavy on the federal budget each year.

So no, Buhari didn’t remove the petrol subsidy – but in vitally important stages he removed every other budget-busting, egregious, economic-growth-crushing subsidy along the way.

So far I have refrained from answering these repeated questions on the removal in Nigeria of subsidies on Premium Motor Spirit, PMS, and that arising from the dual rates of the Naira in the Central Bank and the parallel market: Why did Buhari “fail” to do these?

First of all, my thinking is that instead of the former President answering this question, it is the Party, the All Progressives Congress, APC that is best suited to speak, and failing to do this, we are forced to say what will follow here.

Secondly, we are mindful of the fact that with a Tinubu/Shettima presidency now in place and for which there is a “New Sheriff in Town.”

We do not want to distract them from the onerous tasks facing them and the nation. Neither is it our wish to take the spotlight away from them in any way.

In terms of the timings of the decisions to remove fuel subsidy and unify the currency, the Tinubu/Shettima administration has done overwhelmingly well. Even more importantly, they have been most dexterous in managing the aftermath of the decisions by successfully avoiding any crisis.

To this extent, our wish and prayers are that fellow countrymen will continue to support the new leadership in these very laudable decisions and, in particular, for the Labour leadership and civil society to work with them to ensure that the palliative efforts as promised are successfully implemented.

The decision to remove subsidies, as in our case – and we believe in all situations – was not for the President to take all by himself.

That’s why it’s important to remind ourselves – and all those who have conveniently forgotten – that Buhari administration had been on this pathway from the very beginning in 2015.

Removing subsidies for the Naira and PMS was cued and put on hold. Look for example in the Petroleum Industry Act. The important decision was kept for a better time.

It could not have come at a time when tensions were high in the country and no responsible leader would have added fuel to the fire.

In the view of many-including those in the security circles- only a new administration with goodwill that fills a warehouse can attempt this, and here now comes in the wit and grit of the Tinubu government.

Finally, we must be politically honest with ourselves. The Buhari administration in its last days could not have gone the whole way because the APC had an election to win. And that would have been the case with any political party that was seeking election for another term with a new principal at its head.

Poll after poll showed that the party would have been thrown out of office if the decision as envisaged by the new Petroleum Industry Act was made.

Brazilian State of Rio Grande do Sul Now Accepts Crypto, NEAR Protocol Partners Alibaba Cloud

By
Paul Ugbede Godwin
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0

The Brazilian state of Rio Grande do Sul has become the first in the nation to accept crypto as a form of payment for public services. This is a major milestone for the adoption of digital currencies in the country and the region. According to a press release from the state government, the initiative was launched on June 1st, 2023, and allows citizens to pay their taxes, fees, fines, and other obligations with Bitcoin, Ethereum, and Litecoin. The payments are processed by a local fintech company called BitPay, which converts the crypto into Brazilian reais and transfers them to the state treasury.

The governor of Rio Grande do Sul, Eduardo Leite, said that the move was motivated by the growing demand for crypto among the population and the need to modernize the public administration. He also said that the state is open to exploring other innovative technologies that can improve the quality and efficiency of public services.

The crypto payment option is expected to benefit both the state and its citizens. For the state, it will reduce transaction costs, increase transparency, and attract more investment. For the citizens, it will offer more convenience, security, and financial inclusion.

Rio Grande do Sul is not the only Brazilian state that is embracing crypto. In April 2023, São Paulo announced that it will launch a pilot project to use blockchain technology to track the origin and quality of agricultural products. In May 2023, Minas Gerais revealed that it will create a digital identity platform based on blockchain to facilitate access to public services.

Brazil is also one of the leading countries in Latin America in terms of crypto adoption. According to a report by Chainalysis, Brazil ranked fourth in the world in terms of crypto usage in 2022, behind only Nigeria, Vietnam, and India. The report also estimated that Brazilians traded over $4 billion worth of crypto in 2022, up from $1.5 billion in 2021.

The acceptance of crypto by Rio Grande do Sul is a significant step forward for the development of the crypto ecosystem in Brazil and beyond. It shows that crypto is not only a speculative asset, but also a viable alternative for everyday transactions. It also demonstrates that governments can leverage crypto to enhance their public services and foster innovation.

NEAR Protocol Partners with Alibaba Cloud

NEAR Protocol, a scalable and decentralized platform for open web applications, has announced a strategic partnership with Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group. The partnership aims to accelerate the growth of web3 in Asia by providing developers with easy access to NEAR’s blockchain infrastructure and tools on Alibaba Cloud.

Web3 is a term that refers to the next generation of the internet, where applications are built on decentralized protocols and users have more control over their own data and identity. Web3 applications can offer benefits such as censorship resistance, transparency, security, and interoperability.

NEAR Protocol is one of the leading platforms for web3 development, offering a fast, user-friendly, and low-cost environment for building and deploying decentralized applications. NEAR leverages sharding and proof-of-stake consensus to achieve high scalability and performance, while maintaining decentralization and security. NEAR also supports cross-chain interoperability with other blockchains, such as Ethereum, through its Rainbow Bridge.

Alibaba Cloud is the largest cloud service provider in Asia and the third largest in the world, according to Gartner. Alibaba Cloud offers a comprehensive suite of cloud computing services, including elastic computing, database, storage, network, security, analytics, and artificial intelligence. Alibaba Cloud also has a strong presence in the blockchain space, having launched its own blockchain-as-a-service platform in 2018.

By partnering with Alibaba Cloud, NEAR Protocol hopes to expand its reach and adoption in the Asian market, especially in China, where web3 development is booming. Developers who use Alibaba Cloud will be able to easily deploy and run NEAR-based applications on the cloud platform, without having to worry about the technical details of setting up and maintaining their own nodes. This will lower the barriers to entry and encourage more innovation and experimentation on NEAR.

Additionally, NEAR Protocol and Alibaba Cloud will collaborate on various initiatives to promote web3 education and awareness in Asia, such as hosting hackathons, workshops, webinars, and meetups. The partnership will also explore opportunities to integrate NEAR’s technology with Alibaba Cloud’s existing products and services, such as its blockchain platform and its artificial intelligence solutions.

NEAR Protocol’s co-founder Illia Polosukhin said: “We are thrilled to partner with Alibaba Cloud, one of the most respected and influential cloud providers in the world. This partnership will enable us to bring the power and potential of web3 to millions of developers and users in Asia, who can benefit from the open, decentralized, and inclusive web that NEAR is building.”

Alibaba Cloud’s head of blockchain business unit Zhang Hui said: “We are excited to work with NEAR Protocol, one of the most innovative and promising platforms for web3 development. We believe that this partnership will enhance our capabilities and offerings in the blockchain space, as well as foster a more vibrant and diverse web3 ecosystem in Asia.”

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