Tencent and Elastos Join Forces: Leverage Cloud Tech to Boost Web3 and Digital Identity Solutions
Summary:
In a recent episode of the Hashing It Out podcast by Cointelegraph, Howie Jiang of Tencent Cloud Europe and Fakhul Miah of Elastos discuss the exploitation of cloud technology in cryptocurrency. Tencent Cloud has multiple projects related to Web3 and is looking to expand internationally after working on blockchain products in China. Elastos has been working on "the next phase of the internet", focusing on identity verification and providing true digital sovereignty to individuals. The collaboration between Tencent and Elastos aims to enhance Web3 solutions for identity verification by utilizing cloud software.
The Hashing It Out podcast by Cointelegraph is featuring discussions with Howie Jiang from Tencent Cloud Europe and Fakhul Miah from Elastos, about crypto's potential to leverage cloud technology. These two enterprises have recently teamed up to expedite the progress within the Web3 domain. Tencent Cloud, a globally recognized cloud service provider, harbors high hopes for Web3 and is operational in 27 regions, managing multiple Web3-connected projects. Jiang emphasizes the company's Web3 expertise and shares Tencent Cloud's plans to proliferate beyond its borders after working on various blockchain solutions, including nonfungible tokens (NFTs) in China. Elastos, for the past five years, has been dedicatedly working on shaping what it terms as “the subsequent phase of the internet.” According to Miah, Elastos' pledge to confer true digital sovereignty to individuals makes it stand out from similar projects. One critical aspect where Elastos aims to upgrade the internet is through identity validation. Miah advocates the sustainable method of certifying the identities of online account holders via a decentralized identifier and verifiable credential, ensuring total user control. He urges that users ought to have the liberty to choose their preferred Know Your Customer (KYC) provider and proceed with identity verification independently. Post this, the KYC provider would extend a credential to the user, which can be submitted to online platforms as necessitated. The collaboration between Tencent and Elastos, as elucidated by Jiang and Miah, aims to employ cloud software to enhance Web3 solutions to prevalent internet issues, such as identity confirmation. The conversation also ventured into the successive steps needed for worldwide Web3 acceptance and the predicted regulatory implications on the sector. This episode of Hashing It Out is available on Spotify, Apple Podcasts, Google Podcasts, or TuneIn. For an array of informative podcasts by Cointelegraph, check out the Cointelegraph Podcasts page. Related query: Post FTX's collapse, can crypto exchanges be trustworthy? Please note that this article intends only to provide general information and should not be interpreted as legal or investment advice. The author takes full responsibility for the viewpoints expressed here which do not necessarily align with Cointelegraph’s perspectives.
Published At
10/2/2023 12:20:00 PM
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