Conflux Network expands to Hong Kong – Blockchain News, Opinion, TV and Jobs
Dr. Ming Wu, co-founder of Conflux Network, was invited to Hong Kong to speak with various public and private organizations on digital economy, innovation and technology, and has reached an initial strategic cooperation intention.
During the visit, Dr. Ming Wu spoke with the Hong Kong government to discuss the emergence of technological innovation through Web3 and how the Conflux Network, a permissionless Layer 1 blockchain, can play a fundamental role in this development. Dr. Ming Wu had an in-depth discussion with the managers and reception staff of various institutions under the new “Policy Declaration on the Development of Hong Kong Virtual Assets” officially released in October.
Over the past few years, strict COVID-19 travel control measures and regulatory uncertainty have led many blockchain and crypto companies in Hong Kong to relocate their operations to more hospitable areas. This policy shows a significant refocus on digital assets and coincides with the launch of the first two cryptocurrency exchange-traded funds in Hong Kong.
Dr. Ming Wu introduced the Conflux Tree-Graph public chain, the only compliant, public and permissionless chain in China capable of connecting decentralized economies across borders and protocols. Conflux has already achieved 3000+ TPS, 5000+ nodes and 0.5s block generation. In terms of throughput, confirmation time and usage cost, it has 2-3 orders of magnitude advantages over the international first-generation public chain “Bitcoin” and second-generation public chain “Ethereum”. System performance ranks first in the world.
Dr. Mig Wu said ‘Hong Kong’s open environment for crypto provides more opportunities for practitioners in Web3 and Metaverse, especially for those from China. People here have more freedom to create the technology and business innovations in a compatible way. This will also accelerate the integration of Web3 into the traditional Internet business and economies to extract maximum value. By expanding to Hong Kong, Conflux will be able to take a completely different strategy and have the potential to become the foundation for fulfilling the Web3 vision of Hong Kong.’
The expansion follows Conflux Network being named a potential unicorn, a private startup valued at over $1 billion, in Emerging giants in the Asia-Pacific joint report from HSBC and KPMG. One of only five blockchain-related companies to make the prestigious list.
Conflux provides a unique advantage for projects being built and expanded into Asia. In the region, Conflux has partnered with global brands and government entities on blockchain and metaverse initiatives, including the city of Shanghai, McDonald’s China and Oreo.
To learn more about Conflux, visit confluxnetwork.org
