Microsoft, Aptos Labs to Develop AI Chatbot and Explore Asset Tokenisation

Tech giants Microsoft and Aptos Labs have joined forces to create an AI chatbot, named the Aptos Assistant.

This partnership also involves delving into the world of asset tokenisation.

What is Asset Tokenisation?

Asset tokenisation is a significant concept in the world of blockchain and fintech.

It involves representing real-world assets, such as property, stocks, or even art, as digital tokens on a blockchain.

These tokens are backed by the underlying physical asset and can be traded or transferred with increased efficiency and transparency.

Next Steps

Aptos Labs will be operating validator nodes on Microsoft's cloud platform Azure, a move aimed at enhancing the dependability and security of the Aptos blockchain.

After Meta's decision to put its diem stablecoin project on hold, the core team behind the initiative regrouped under Aptos Labs.

Their goal is to revive and actualise the initial vision of the stalled project.

The Aptos Assistant, driven by artificial intelligence, serves the purpose of furnishing information about the Aptos blockchain to individuals who are curious, ultimately facilitating the onboarding process for users into the realm of Web3.

Moreover, it is designed to support developers in constructing both decentralised applications and smart contracts.

This assistant is intertwined with Microsoft Azure's Open AI initiative, a strategic move to democratise the utilisation of blockchain.

The intention is to seamlessly usher users into Web3 and empower innovators to craft innovative decentralised applications using the capabilities of artificial intelligence.

Mo Shaikh, CEO of Aptos Labs, underlined the rapid convergence of artificial intelligence and blockchain technologies.

"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."

Beyond the creation of the Aptos Assistant, this partnership opens avenues for Microsoft and Aptos Labs to explore asset tokenisation, payment systems, and central bank digital currencies (CBDCs).

Their focus lies in integrating Web3 more deeply into the domain of financial service enterprises.

This collaboration marks Microsoft's third foray into blockchain technology this summer.