Blockchain company Aptos Labs announced a partnership with Microsoft that will utilize artificial intelligence tools to introduce Web3 technologies to banks and financial enterprises.
Aptos Labs announced a partnership with Microsoft. The collaboration will focus on developing a joint AI-enabled toolset to make it easier for developers and users worldwide to access the Web3 sphere.
The first joint product will be Aptos Assistant, a web tool powered by Microsoft’s AI. The assistant will support natural language and help users learn the basics of Web3, while developers will be able to create smart contracts and decentralized apps based on the Aptos Network blockchain.
The companies also plan to work together to explore innovations in DeFi, particularly asset tokenization and various applications of CBDCs. The long-term goal of such research is to popularize Web3 technologies among traditional financial enterprises.
Moreover, Aptos Network users will have the ability to run validation nodes based on Microsoft Azure cloud infrastructure, thereby increasing the resilience and security of the network. Recall that the main blockchain network Aptos was launched in October 2022 after four years of development. The project was created by a team of former Meta employees who worked on Diem (formerly Libra) that was ultimately closed in early 2022. Aptos is based on the Move programming language, originally developed specifically for Diem, and the AptosBFT consensus algorithm.
The project concept assumes high levels of security, performance, and decentralization due to a unique consensus algorithm and a new smart contract design. Aptos Network can potentially process more than 160,000 transactions per second. In 2022, Aptos Labs raised over $350 million in two funding rounds from Andreessen Horowitz, FTX Ventures, Binance Labs, Jump Crypto, Coinbase Ventures, Multicoin Capital, Tiger Global, Paxos, and other investors.
The news of the partnership with Microsoft significantly affected the value of APT, Aptos Network’s native token, which rose nearly 18% in half an hour, according to CoinGecko. However, the excitement quickly passed, and the current increase in APT quotes for the last seven days is a little more than 7%.
Microsoft is also one of the partners of another ambitious blockchain project — Canton Network, developed by Digital Asset. The project involves the creation of a “network of networks,” which will unite previously disparate systems in financial markets within a single infrastructure.
