Conflux Network Teams Up with Alibaba Cloud to Propel Web3 Development for Local Businesses
In Brief
The collaboration between Conflux Network and Alibaba Cloud aims to revolutionize sectors like retail, tourism, entertainment, art, and education in Hong Kong using the latest Web3 innovations.
Layer 1 public blockchain, Conflux Network The announcement revealed a strategic partnership with a cloud computing provider, Alibaba Cloud , and Cyberport This initiative marks a significant move for Hong Kong, recognized as a digital technology powerhouse. The goal is to leverage cutting-edge technology to innovate and transform multiple sectors within the local market.
Drawing on the unique strengths and experiences of both organizations, this collaboration is set to create a thriving Web3 ecosystem tailored to local needs. The focus is on delivering impactful solutions that enhance business value across diverse industries.
By combining the cloud services of Alibaba Cloud with the technological prowess of Conflux, this partnership is poised to facilitate Web3 integration for businesses. Cyberport is also expected to play a crucial role, providing resources and support to aid established companies and startups alike.
Essential Contributions of Key Partners Toward Local Web3 Progress
As part of the agreement, Conflux will offer its infrastructure designed for decentralized applications (DApps), employing its unique Tree-Graph consensus mechanism to ensure rapid transactions with minimal delays, all while meeting stringent security protocols.
Alibaba Cloud will leverage its technological expertise and extensive audience reach to bolster the growth of dependable blockchain frameworks and Web3 applications.
Meanwhile, Cyberport acts as the core Web3 hub in the region and serves as the launchpad for Conflux Network. In 2023, it received nearly $6.5 million in funding from the Hong Kong Government aimed at enhancing the Web3 ecosystem, cultivating talent, driving industry growth, and raising public awareness about Web3.
This partnership aspires to turn innovative Web3 concepts into tangible solutions, providing customized services across different sectors in Hong Kong. Currently, the organizations are on the lookout for additional partners to contribute to shaping the digital landscape and fostering a thriving Web3 ecosystem.
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