• Dr. Ming Wu, co-founder of Conflux Network, was invited to Hong Kong to speak with various government and private organizations on the digital economy, innovation and technology, and has reached an initial intention for strategic cooperation.
• Conflux is already in the process of registering related entities to enter Hong Kong, cementing its role as the foundational infrastructure for Web3.
• This follows the October announcement of the “Hong Kong Virtual Asset Development Policy Statement”, which has paved the way for a more hospitable blockchain environment in Hong Kong.

Dr. Ming Wu, co-founder of junction network, was invited by the Hong Kong government to discuss the rise of technological innovation through Web3 and how the Conflux Network could play a pivotal role in these developments. During the visit, Dr. Ming Wu had an in-depth discussion with the directors and reception staff of various institutions under the new “Hong Kong Virtual Asset Development Policy Statement” officially released in October.

In recent years, strict COVID-19 travel control measures and regulatory uncertainty caused many Hong Kong blockchain and cryptocurrency companies to shift their businesses 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, explaining that it is the only public, permissionless, compliant chain in China and has achieved 3,000+ TPS, 5,000+ nodes, and 0.5s block generation. . In terms of performance, confirmation time and cost of use, it has advantages of 2-3 orders of magnitude over the international first-generation public chain “Bitcoin” and the second-generation public chain “Ethereum”. System performance ranks first in the world.

Dr. Mig Wu said, “Hong Kong’s open environment for cryptocurrencies offers more opportunities for Web3 and Metaverse professionals, especially those in China.” People here have more freedom to make technical and commercial innovations in a compatible way. This will also accelerate the integration of Web3 into the traditional business and economies of the Internet to extract its maximum value. By expanding into Hong Kong, Conflux will be able to take a completely different strategy and have the potential to become the foundation for fulfilling Hong Kong’s Web3 vision.”

The expansion follows Conflux Network being named a potential unicorn, a new private company valued at more than $1 billion, in the Rising Giants in Asia Pacific joint report by HSBC and KPMG. One of only five blockchain-related companies to make the prestigious list.

About Conflux

Conflux is a permissionless Layer 1 blockchain that connects decentralized economies across borders and protocols. Recently migrated to hybrid PoW/PoS consensus, Conflux provides a fast, secure, and scalable blockchain environment with no congestion, low fees, and enhanced network security.

As the only compliant public blockchain in China, Conflux offers a unique advantage for building and expanding projects in Asia. In the region, Conflux has collaborated 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

Contact

melissa tirey
Shift6 Studios
conflux@shift6studios.com