Conflux Community Expands into Hong Kong

Dr Ming Wu, the co-founder of Conflux Community, was invited to Hong Kong to talk with varied authorities and personal organizations in regards to the digital economic system, innovation and expertise, and has reached an preliminary strategic cooperation intention.

Conflux is already within the technique of registering associated entities for entry into Hong Kong, solidifying its position as a foundational infrastructure for Web3.

This follows October’s announcement of the “Coverage Declaration on the Growth of Hong Kong Digital Belongings” which has paved the best way for a extra hospitable blockchain surroundings in Hong Kong.

Dr Ming Wu, Co-Founding father of Conflux Community, was invited by the Hong Kong Authorities to debate the rise of tech innovation by way of Web3 and the way the Conflux Community might play a foundational position in these developments. Through the go to, Dr Ming Wu had an in-depth dialogue with the heads and reception workers of varied establishments beneath the brand new “Coverage Declaration on the Growth of Hong Kong Digital Belongings” formally launched in October.

Over the previous a number of years, stringent COVID-19 journey management measures and regulatory uncertainty noticed many Hong Kong blockchain and crypto corporations shift their companies to extra hospitable areas. This coverage reveals a major refocus on digital belongings and coincides with the launch of the primary two exchange-traded funds for cryptocurrency in Hong Kong.

Dr Ming Wu launched the Conflux Tree-Graph public chain, explaining it’s the solely compliant, public and permissionless chain in China and has achieved 3000+ TPS, 5000+ nodes and 0.5s block era. By way of throughput, affirmation time, and price of use, it has 2-3 orders of magnitude benefits over the worldwide first-generation public chain “Bitcoin” and the second-generation public chain “Ethereum”. The system’s efficiency ranks first on the planet.

Dr Mig Wu mentioned ‘Hong Kong’s open surroundings for crypto offers extra alternatives for practitioners in Web3 and Metaverse, particularly for these from China. Individuals right here have extra freedom to make the approach and enterprise improvements in a compliant method. This may also speed up the mixing of Web3 into the normal web enterprise and economies to maximally extract its worth. By increasing to Hong Kong, Conflux will be capable of take a complete completely different technique and have the potential to turn into the muse to fulfil the Web3 imaginative and prescient of Hong Kong.’

The growth follows Conflux Community being named a possible unicorn, a personal startup firm valued at over $1 billion, within the Rising Giants in Asia Pacific joint report from HSBC and KPMG. One in every of solely 5 blockchain-related corporations to make the celebrated listing.

About Conflux

Conflux is a permissionless Layer 1 blockchain connecting decentralized economies throughout borders and protocols. Just lately migrated to hybrid PoW/PoS consensus, Conflux offers a quick, safe, and scalable blockchain surroundings with zero congestion, low charges, and improved community safety.

As the one regulatory-compliant public blockchain in China, Conflux offers a novel benefit for tasks constructing and increasing into Asia. Within the area, Conflux has collaborated with international manufacturers and authorities entities on blockchain and metaverse initiatives, together with town of Shanghai, McDonald’s China, and Oreo.

To be taught extra about Conflux, go to confluxnetwork.org