cryptonews japan

cryptonews japan

Alibaba Cloud, a leading global cloud computing corporation and a subsidiary of Alibaba Group, has revealed its intentions to establish a blockchain laboratory in Shibuya, Japan this April.

According to an official announcement, the laboratory aims to strengthen game development for Japanese developers interested in delving into the web3 domain.

Notably, Alibaba Cloud has partnered with Skeleton Crew Studio, a Japan-based company specializing in VR and gaming development, to facilitate the establishment of the blockchain laboratory.

Alibaba Cloud noted that it provided a platform for game developers to improve their blockchain-based game design skills further. Nonetheless, this platform is exclusive to developers who are already working on collaborative projects with the firm and participants of the upcoming web3 Hackathon that will hold across four Asian regions starting on April 2.

In addition to the blockchain laboratory, Alibaba Cloud plans to launch a blockchain node service in Japan. The project is presently in its pilot phase and has been made available to a limited number of users. The new service will offer a more user-friendly interface to developers utilizing the Alibaba Cloud infrastructure.

Japan’s efforts at establishing a web3 hub

Alibaba’s recent focus on expanding its blockchain services in Japan coincides with a surge in regulatory efforts triggered by the rising adoption of blockchain and digital assets. In January, Japanese financial regulators recommended that crypto-related entities be subject to regulations similar to traditional banks. This development came in the wake of the FTX debacle.

Moreover, Japan has been actively trying to establish itself as a prominent web3 hub in Asia, with several initiatives supporting this goal. The Japanese authorities have demonstrated a particular interest in the fields of web3 and NFTs, as evidenced by the Liberal Democratic Party of Japan’s interim proposal on web3 policy

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