Cryptocurrency

Conflux Community Expands into Hong Kong

[PRESS RELEASE – Toronto, Canada, 28th December 2022]

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

Conflux is already within the means of registering associated entities for the entry into Hong Kong, solidifying its function as 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 way in which for a extra hospitable blockchain setting 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 Web3 and the way the Conflux Community may play a foundational function in these developments. Through the go to, Dr. Ming Wu had an in-depth dialogue with the heads and reception workers of varied establishments below 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 reveals a big refocus on digital property 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 technology. 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 efficiency ranks first on the earth.

Dr. Mig Wu stated ‘Hong Kong’s open setting for crypto gives extra alternatives for practitioners in Web3 and Metaverse, particularly for these from China. Folks 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 to take an entire totally different technique and have the potential to turn into the muse to satisfy the Web3 imaginative and prescient of Hong Kong.’

The enlargement 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. Certainly one of solely 5 blockchain-related corporations to make the distinguished checklist.

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 gives a quick, safe, and scalable blockchain setting with zero congestion, low charges, and improved community safety.

As the one regulatory-compliant public blockchain in China, Conflux gives a novel benefit for tasks 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.

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