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Conflux Network is Setting Foot in Hong Kong

Toronto, Canada, December 28, 2022, Chainwire

  • During his visit to Hong Kong, Dr. Ming Wu, co-founder of Conflux Network, engaged with various governmental and private organizations to discuss technological advancements, the digital economy, and innovation, ultimately leading to a preliminary agreement for a strategic partnership.
  • Conflux is actively working on the registration of necessary entities in order to establish a presence in Hong Kong, aiming to become a key infrastructure player in the Web3 space.
  • This move comes in the wake of an announcement in October regarding the 'Policy Declaration on the Development of Hong Kong Virtual Assets', which has created a more favorable environment for blockchain initiatives in the region.

Dr. Ming Wu, Co-Founder of Conflux Network Dr. Ming Wu was invited by the Hong Kong Government to talk about the technological advancements presented by Web3 and the crucial role that the Conflux Network could play in these transitions. His discussions included meetings with the leadership and staff from various institutions in light of the newly released policy on virtual asset development in Hong Kong.

Over the past several years Owing to strict travel restrictions related to COVID-19 and growing regulatory doubts, a number of blockchain and crypto companies from Hong Kong began relocating their operations to friendlier jurisdictions. This new policy marks a significant shift in focus toward digital assets, aligning with the launch of Hong Kong's first two cryptocurrency exchange-traded funds.

Dr. Ming Wu Dr. Ming Wu introduced the Conflux Tree-Graph public blockchain, highlighting that it stands as the only compliant, public, and permissionless blockchain in China, boasting over 3000 transactions per second, 5000 nodes, and rapid block creation at 0.5 seconds. In terms of speed, cost-effectiveness, and overall throughput, it surpasses first-generation public chains and even the second-generation standard, Ethereum. Dr. Wu emphasized that Hong Kong's liberal regulatory landscape for cryptocurrencies opens up numerous avenues for innovators in Web3 and the Metaverse, especially those relocating from China. It provides greater creative freedom to pursue technological and business advancements in a compliant way, which could significantly benefit traditional online businesses and economies by maximizing their potential value. Extending its operations to Hong Kong allows Conflux to craft a wholly new strategy, positioning it as a fundamental player in realizing Hong Kong’s Web3 aspirations. “Bitcoin” This expansion follows recognition of Conflux Network as a potential unicorn, a term referring to private startup firms valued over $1 billion, as highlighted in a report by HSBC and KPMG—one of only five blockchain companies to receive this high honor. performance ranks first in the world .

Conflux operates as a permissionless Layer 1 blockchain, bridging decentralized economies across different borders and protocols. The network has recently transitioned to a hybrid Proof of Work/Proof of Stake consensus model, ensuring a swift, secure, and scalable blockchain environment characterized by zero congestion, minimal fees, and enhanced security. accelerate the integration of Web3 As China’s only regulatory-compliant public blockchain, Conflux benefits from a significant edge in marketing its services across Asia. In the region, it has partnered with notable global brands and governmental bodies concerning blockchain applications.

Please bear in mind that the information shared on this page is not intended to serve as, nor should it be construed as, legal, tax, investment, financial, or any other advisory service. Always remember to invest cautiously, only what you can afford to lose, and consider seeking independent financial counsel if uncertain. For more clarity, please refer to the terms, conditions, and support resources offered by the relevant issuer or advertiser. At MetaversePost, we strive for factual and impartial reporting, although please note that market conditions can fluctuate rapidly. Emerging Giants in Asia Pacific Chainwire serves as a leading news distribution platform for blockchain and cryptocurrency, effectively disseminating press releases and amplifying coverage of crypto news.

About Conflux

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Harvard Initiates Legal Action Against the Trump Administration Over a $2 Billion Funding Hold, Raising Concerns Regarding Blockchain Integration in Higher Education projects building and expanding A recent report by Reown and Nansen indicated that 62% of cryptocurrency users manage multiple wallets, highlighting significant fragmentation within the ecosystem. metaverse initiatives Cryptocurrencylistings.com Commemorates 12 Years in Dubai as Founder Dr. Han Reveals a Visionary Blueprint for its Next-Generation Cryptocurrency Exchange

To learn more about Conflux, visit confluxnetwork.org

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Melissa Tirey
Shift6 Studios

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Conflux Network Takes Its Next Step into Hong Kong's Metaverse

In Toronto, Canada, on December 28, 2022, Chainwire reports that Dr. Ming Wu, one of the co-founders of Conflux Network, was honored with an invitation to Hong Kong where he engaged in discussions with government officials and various organizations.

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To enhance your experience in your preferred language, we sometimes utilize an auto-translation tool. Keep in mind that this tool may not always produce perfect translations, so please proceed with caution.