- Aptos Labs is a Layer 1 blockchain, meaning the technology is intended to support large-scale digital asset trade and transactions.
- By comprehending natural conversational language and clarifying complex issues, the Aptos Assistant can answer queries about Web3 for ordinary internet users and enterprises, bridging the knowledge gap.
Aptos Labs, the blockchain startup founded by the former employees of Meta Platforms Inc. who worked on the now-defunct Diem blockchain, announced a collaboration with Microsoft Corp. to “explore innovative solutions” in blockchain and Web3 technology, such as artificial intelligence, tokenization, and payments.
Aptos Labs is a Layer 1 blockchain, meaning the technology is intended to support large-scale digital asset trade and transactions. It was created to compete with other blockchain ecosystems, such as Ethereum, the second-largest blockchain by market capitalization. It offers programmable smart contract transactions using the scripting language, Move.
Aptos wants to employ the Azure OpenAI Service in collaboration with Microsoft to construct a user-friendly AI assistant to help customers comprehend the complex blockchain and Web3 technology ecosystem and accelerate industry adoption.
Web3, also known as the decentralized web, is a token economy ecosystem constructed with blockchain technology that allows peer-to-peer transactions to be completed without intermediaries. It will enable users to code their contracts and self-execute when specific criteria are met.
Mo Shaikh, Chief Executive at Aptos Labs, stated, “Artificial Intelligence and blockchain technologies are quickly converging for one important reason: They are both generational breakthroughs that profoundly impact the evolution of the internet and shape society. Together with Microsoft, our shared vision is to ensure that this technology is accessible to more people and organizations than ever before.”
By comprehending natural conversational language and clarifying complex issues, the Aptos Assistant can answer queries about Web3 for ordinary internet users and enterprises, bridging the knowledge gap. With this approach, the company intends to increase the adoption of the Aptos blockchain and its apps.
At the same time, the assistant will advise developers on essential resources as they design smart contracts with the Move language and decentralized apps on the Aptos blockchain. Aptos has also integrated Move into GitHub’s Copilot AI programming tool, allowing Web3 developers to construct smart contracts quickly with direct AI support.
Rashmi Mishra, General Manager of AI and emerging technologies at Microsoft, said, “By fusing Aptos Labs’ technology with the Microsoft Azure Open AI Service capabilities, we aim to democratize the use of blockchain enabling users to seamlessly onboard to Web3 and innovators to develop new exciting decentralized applications using AI.”
In addition to collaborating on AI solutions, Aptos and Microsoft have committed to investigating asset tokenization, blockchain payments, and Central Bank Digital Currencies. The partnership aims to foster wider Web3 adoption within financial services organizations by providing the necessary infrastructure and capabilities.
Aptos will also deploy blockchain validator nodes on the Azure cloud, which will assist in safeguarding the decentralized blockchain network and improve the Aptos blockchain’s stability. Validator nodes are a mechanism that verifies blockchain transactions and stores a chain record to prevent errors and forgeries.