Alibaba Cloud, a subsidiary of the popular e-commerce giant, Alibaba Group, has revealed plans of its expansion per its choice blockchain service (Baas), outside its resident country.
The immensely large arm of Jack Ma’s group was founded nine years ago and has grown rapidly ever since its establishment, with major departments such as its strengths in Artificial Intelligence and Relational database making it one of the largest computing cloud service in the world.
Combining different important aspects of its data storage expertise and AI, Alibaba Cloud has managed to create one of the best blockchain-based services for enterprises across different fields, with its Blockchain-as-a-Service (BaaS) soon to be offered outside of China, according to an official press release. Alibaba Cloud looks to expand its service beyond its host country and into key international markets such as the United States, South-Eastern Asia and Europe as well.
Alibaba’s BaaS is built on a sophisticated algorithm that ensures optimum security without risking the efficiency of the system. The integrable service offers a computing platform designed majorly for large or international enterprises, providing technical solutions like smart contracts, and consortium management.
Yi Li, a Senior Staff Engineer at Alibaba Cloud Blockchain Service, enthused on the prospect of the imminent expansion, and was effusive in his opinion on the latest development, which is set to foster innovations across diverse fields.
“Our customers in China have already experienced the benefits from our BaaS platform, and we are excited to extend this service to other enterprise customers all over the world,“ he commented. “Alibaba Cloud is also the first blockchain service provider of Intel SGX security technology. We aim to become a technology partner that enables companies that wish to use blockchain to accelerate their digital transformation.”
Alibaba Cloud, which is already the third largest cloud service in the world, currently operates in 19 global regions and is looking to expand more into African and European markets.