The platform will facilitate the buying and selling of Web3 data among enterprises, with Alibaba Cloud and Huawei among the companies to participate.
During the 2023 Hangzhou Summit held in Hangzhou, China, government officials unveiled a new data exchange powered by blockchain technology. Over 300 enterprises, including Alibaba Cloud and Huawei, participated in the exchange’s debut.
According to local news reports from Aug. 23, the new Hangzhou Data Exchange will facilitate the trading of enterprise information technology data using distributed ledger technology. Officials said the platform would ensure exchange trades are immutable and traceable. Chen Chun, director of the National Laboratory of Blockchain and Data Security, commented:
“[The Hangzhou Data Exchange] utilizes research blockchain, privacy computing and other technologies to realize trusted sharing and effective use of data across departments and regions under data security and privacy protection.”