Conflux Network expands to Hong Kong
Hong Kong –News Direct– Chainwire
Dr. Ming Wu, cofounder of Conflux NetworkHe was invited to Hong Kong by various government and private agencies to discuss the digital economy, innovation, and technology. The initial strategic cooperation intention has been reached.
Conflux is in the process for registering related entities to enter Hong Kong. This solidifies its role of foundational infrastructure for Web3.
This follows October’s announcement of the “Policy Declaration on the Development of Hong Kong Virtual Assets” which has paved the way for a more hospitable blockchain environment in Hong Kong.
Dr. Ming Wu is the co-founder of Conflux NetworkThe Hong Kong Government invited me to discuss the rise and development of tech innovation through Web3 as well as how the Conflux Network might play a key role in these developments. Dr. Ming Wu met with the heads of different institutions as part of the “Policy Declaration on the Development of Hong Kong Virtual Assets”, which was officially released in October.
Numerous Hong Kong blockchain and cryptocurrency companies have relocated to more favorable locations over the years because of strict COVID-19 travel controls and regulatory uncertainty. This policy coincides with the launch in Hong Kong of two exchange traded funds for cryptocurrency.
Conflux Tree-Graph was introduced by Dr. Ming Wu. It is China’s only compliant, open, permissionless public chain. It has achieved 3000+TPS, 5000+ nodes, and 0.5s block generation. It is 2-3 orders of magnitude more efficient than the first-generation global public chain, “Bitcoin”, or the second-generation, “Ethereum”, in terms of throughput, confirmation times, and cost. It is the best in the world.
Dr. Mig Wong stated that Hong Kong’s open crypto environment provides more opportunities to practitioners in Web3 or Metaverse, particularly for those from China. Here, people have greater freedom to develop the technique and other business innovations in a legally compliant way. This will accelerate integration of Web3 in the traditional internet business, and allow for maximum value extraction. Conflux’s expansion to Hong Kong will allow it to adopt a new strategy and be able to help Hong Kong realize its Web3 vision.
Conflux Network, a potential unicorn and a private start-up company worth over $1B, was named in the Emerging Giants Asia Pacific joint report of HSBC & KPMG. This is one of five blockchain-related companies that made the prestigious list.
Conflux
Conflux is a Layer 1 permissionless blockchain that connects decentralized economies across borders. Conflux, which was recently migrated to hybrid PoW/PoS, provides a fast and secure blockchain environment that is scalable, secure, and scalable with no congestion, low fees and increased network security.
Conflux, the only public and regulatory-compliant blockchain in China offers unique advantages for projects looking to expand into Asia. Conflux has collaborated in the region with global brands as well as government agencies on metaverse and blockchain initiatives including Oreo, McDonald’s China and Shanghai.
Conflux is a company that specializes in providing information to the public. confluxnetwork.org/
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