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Transitioning To Web3: AMD, Seagate and EY Join Alliance

It’s just been revealed that there are some exciting moves taking place in the crypto space these days. Check them out below.

Exciting moves take place in the crypto space

Protocol Labs, the company behind the decentralized file-sharing protocol Filecoin, announced an alliance that aims to help more companies make the transition to Web3 from Web2.

The industry organization has a trio as founding partners. Here they are: “computer hardware giant Advanced Micro Devices (AMD), storage device maker Seagate, and Big 4 accounting and consulting firm Ernst & Young (EY).”

CoinDesk noted the fact that Filecoin essentially allows users to buy or sell computer storage on a network that offers decentralized storage of data and files.

It’s also worth noting the fact that the service is meant to act as an alternative to centralized storage providers like Amazon Web Services.

The Decentralized Storage Alliance has been launched in conjunction with the nonprofit Filecoin Foundation.

This will work to establish development standards that would help decentralized storage solutions meet the needs of enterprise customers. It’s important to note that this is making it easier for data centers to onboard onto a decentralized network.

Working groups will be created to solve other specific issues that could slow the transition from Web2 to Web3.

“As the global data and storage markets are accelerating, there is a lag in the adoption of decentralized storage technologies,” James Canterbury, partner, and principal at EY Blockchain, said in the press release.

Web3 and crypto adoption

Banking fintech Plaid released its first crypto product – this is a wallet connector. Via this new move, the firm is kicking off a strategy that could take the multibillion-dollar company deep into crypto’s weeds.

CoinDesk notes the fact that Plaid is best known for bridging consumers’ bank accounts with online payment platforms.

The firm just said that “Wallet Onboard” tool will make it easy for crypto developers to plug into over 300 different Ethereum wallets – and for their customers, as well. This is a big deal as it definitely supports the mass adoption of crypto.

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