Blockchain Bargain

Blockchain Bargain

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  • Alibaba Cloud (BABA), the tech powerhouse of Alibaba, has teamed up with crypto firm Mysten Labs to further enhance Web3 ecosystems. This marks a major move by the Chinese e-commerce giant into the blockchain space. Mysten Labs, the creators of the Sui blockchain network, proudly announced the signing of a memorandum of understanding with Alibaba Cloud ushering in a new era of innovation and exploration.
  • Mysten is paving the way for a decentralized future with Sui, a layer-1 blockchain that stands on its own like Bitcoin and Ethereum. Far from being a mere miner, Mysten has its sights set on Web3 infrastructure and has even attracted the attention of Alibaba, who are ready to provide cloud services to Sui's validators, validating and securing transactions in the network.

Why it matters

The Chinese tech group has made an exciting venture into the blockchain space, which could have major implications for the company’s core e-commerce and payments services if successful.


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