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Cointelegraph’s Hashing It Out podcast features an interview with Howie Jiang, Web3 chief solution architect at Tencent Cloud Europe, and Fakhul Miah from Elastos, discussing how cryptocurrency can leverage cloud technology. The two companies recently announced a partnership aimed at “accelerating the Web3 space.”
Tencent Cloud, a major global cloud provider, is making significant investments in Web3, operating in 27 regions and managing multiple Web3-related projects. Jiang highlights the company’s experience with Web3 and notes that after working with non-fungible tokens (NFTs) and other blockchain products in China, the cloud firm aims to expand its overseas presence.
Elastos has been developing what it describes as “the next phase of the internet” for the past five years. Miah explains that its commitment to providing individuals with true digital sovereignty distinguishes it from other projects.
One of the key areas Elastos is targeting to improve the internet is identity verification. Miah explains that a sustainable method for verifying the identity of individuals behind internet accounts is through decentralized identifiers and verifiable credentials, ensuring that users maintain total control. He notes that users should be able to choose their own Know Your Customer (KYC) provider and undergo verification processes independently. Once verified, the KYC provider issues a credential that users can submit to online applications when required.
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Jiang and Miah discuss how the partnership between Tencent and Elastos utilizes cloud software to address everyday internet challenges, such as identity verification, within Web3 solutions. The episode also covers the next steps required for global Web3 adoption and how regulations will impact the industry in the coming months.
Listen to the latest episode of Hashing It Out on Spotify, Apple Podcasts, Google Podcasts, or TuneIn. You can also explore Cointelegraph’s complete catalog of informative podcasts on the Cointelegraph Podcasts page.
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Disclaimer: This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
