of united telegraph discuss The podcast discusses how cryptocurrencies can leverage cloud technology with Howie Jiang, Chief Solutions Architect for Web3 at Tencent Cloud Europe, and Fakhul Miah of Elastos. The two companies recently announced a partnership to “accelerate the development of the Web3 space.”
Tencent Cloud, a world-renowned cloud vendor, has placed a heavy bet on Web3, with business covering 27 regions and multiple Web3-related projects. Jiang highlighted the company’s experience with Web3 and explained that the cloud company hopes to expand overseas after working with China’s non-fungible tokens (NFTs) and other blockchain products.
For the past five years, Elastos has been building what it calls “the next phase of the Internet.” Miah explained that the commitment to providing individuals with true digital sovereignty sets it apart from other projects.
Authentication is one of several areas where Elastos is looking to improve the internet. Miah explained that a sustainable way to verify the identity of the person behind an online account is through decentralized identifiers and verifiable credentials because the user has full control. He explained that users should be allowed to choose a Know Your Customer (KYC) provider of choice and complete the verification process independently. Thereafter, the KYC provider will issue credentials to the user, which they can submit to the online application if required.
Jiang and Miah explained how the partnership between Tencent and Elastos uses cloud software to enhance Web3 solutions to solve everyday Internet problems such as authentication. This episode also discusses the next steps required for global adoption of Web3 and how regulations will impact the industry in the coming months.
Listen to the latest episode discuss exist Spotify, Apple Podcasts, Google Podcasts or tune in. You can also explore Cointelegraph’s full catalog of informative podcasts on the Cointelegraph Podcasts page.
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Disclaimer: This article is for general information purposes only and is not intended to be, and should not be construed as, legal or investment advice. The views, thoughts, and opinions expressed here are solely those of the author and do not necessarily reflect or represent the views and opinions of Cointelegraph.
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