Alibaba Cloud has made known that it plans to open a blockchain research facility in Shibuya, Japan, in April.
According to a formal statement, the laboratory seeks to support Japanese game developers who are interested in exploring the web3 space.Interestingly, to support the formation of the blockchain laboratory, Alibaba Cloud has teamed with Skeleton Crew Studio, a Japan-based business that specializes in VR and game production.
Alibaba Cloud stated that it gave game developers a platform to hone their blockchain-based game design abilities. Nevertheless, this platform is only available to programmers who are already engaged in joint projects with the company and attendees of the next web3 Hackathon, which will take place across four Asian countries beginning on April 2.
Alibaba Cloud intends to introduce a blockchain node service in Japan in addition to the blockchain lab. While in its prototype stage, the project has only been made accessible to a select group of individuals.
The new service will give developers using the Alibaba Cloud infrastructure a more streamlined user interface. The recent focus by Alibaba on increasing its blockchain services in Japan ties in with an increase in regulatory initiatives brought on by the growing use of blockchain and digital assets.
Japanese financial regulators suggested in January that organizations associated to cryptocurrencies be subject to rules similar to those that apply to conventional banks.
This development happened after the FTX fiasco. Furthermore, Japan has made a concerted effort to position itself as a significant web3 hub in Asia. Several initiatives support this effort.
The Liberal Democratic Party of Japan’s interim proposal on web3 policy demonstrates the Japanese government’s keen interest in the sectors of web3 and NFTs.
