- 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 financial system, innovation and know-how, 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 function as a foundational infrastructure for Web3.
- This follows October’s announcement of the “Coverage Declaration on the Improvement of Hong Kong Digital Property” which has paved the best way for a extra hospitable blockchain surroundings in Hong Kong.
Dr Ming Wu, Co-Founding father of Conflux Network, was invited by the Hong Kong Authorities to debate the rise of tech innovation via Web3 and the way the Conflux Community might play a foundational function in these developments. In the course of the go to, Dr Ming Wu had an in-depth dialogue with the heads and reception employees of varied establishments underneath the brand new “Coverage Declaration on the Improvement of Hong Kong Digital Property” 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 exhibits 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. When it comes to throughput, affirmation time, and value 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 this planet.
Dr Mig Wu mentioned ‘Hong Kong’s open surroundings for crypto supplies 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 even speed up the combination 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 change into the muse to fulfil the Web3 imaginative and prescient of Hong Kong.’
The growth follows Conflux Community being named a possible unicorn, a non-public startup firm valued at over $1 billion, within the Emerging Giants in Asia Pacific joint report from HSBC and KPMG. Certainly one of solely 5 blockchain-related corporations to make the celebrated record.
Conflux is a permissionless Layer 1 blockchain connecting decentralized economies throughout borders and protocols. Not too long ago migrated to hybrid PoW/PoS consensus, Conflux supplies 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 supplies a singular benefit for initiatives constructing and increasing into Asia. Within the area, Conflux has collaborated with world manufacturers and authorities entities on blockchain and metaverse initiatives, together with town of Shanghai, McDonald’s China, and Oreo.
To study extra about Conflux, go to confluxnetwork.org