Dr. Ming Wu, co-founder of Conflux Network, 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.
In the course of the go to, Dr. Ming Wu spoke to the Hong Kong Authorities to debate the rise of tech innovation by way of Web3 and the way the Conflux Community, a permissionless Layer 1 blockchain, might play a foundational function in these developments. Dr. Ming Wu had an in-depth dialogue with the heads and reception employees of assorted establishments below 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 firms 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, the one compliant, public and permissionless chain in China that is ready to join decentralized economies throughout borders and protocols. Conflux has already achieved 3000+ TPS, 5000+ nodes and 0.5s block era. By way of 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 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. Folks right here have extra freedom to make the method and enterprise improvements in a compliant method. This can even speed up the combination of Web3 into the standard web enterprise and economies to maximally extract its worth. By increasing to Hong Kong, Conflux will have the ability to take an entire totally different technique and have the potential to turn out to be the inspiration to satisfy 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 Emerging Giants in Asia Pacific joint report from HSBC and KPMG. One in every of solely 5 blockchain-related firms to make the distinguished checklist.
Conflux supplies 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 the town of Shanghai, McDonald’s China, and Oreo.
To be taught extra about Conflux, go to confluxnetwork.org
