{"id":168929,"date":"2022-12-28T21:27:13","date_gmt":"2022-12-28T21:27:13","guid":{"rendered":"https:\/\/precoinnews.com\/?p=168929"},"modified":"2022-12-28T21:27:13","modified_gmt":"2022-12-28T21:27:13","slug":"conflux-network-expands-into-hong-kong","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/conflux-network-expands-into-hong-kong\/","title":{"rendered":"Conflux Network Expands into Hong Kong"},"content":{"rendered":"<p><strong>Toronto, Canada, 28th December, 2022, Chainwire<\/strong><\/p>\n<ul>\n<li>Dr. Ming Wu, co-founder of Conflux Network, was invited to Hong Kong to speak with various government and private organizations about the digital economy, innovation and technology, and has reached an initial strategic cooperation intention.\u00a0<\/li>\n<li>Conflux is already in the process of registering related entities for the entry into Hong Kong, solidifying its role as foundational infrastructure for Web3.<\/li>\n<li>This follows October\u2019s announcement of the \u00a0\u201cPolicy Declaration on the Development of Hong Kong Virtual Assets\u201d which has paved the way for a more hospitable blockchain environment in Hong Kong.<\/li>\n<\/ul>\n<p>Dr. Ming Wu, Co-Founder of\u00a0<u>Conflux Network<\/u>, \u00a0was invited by the Hong Kong Government to discuss the rise of tech innovation through Web3 and how the Conflux Network could play a foundational role in these developments. During the visit, Dr. Ming Wu had an in-depth discussion with the heads and reception staff of various institutions under the new \u201cPolicy Declaration on the Development of Hong Kong Virtual Assets\u201d officially released in October.\u00a0<\/p>\n<p>Over the past several years, stringent COVID-19 travel control measures and regulatory uncertainty saw many Hong Kong blockchain and crypto companies shift their businesses to more hospitable areas. \u00a0This policy shows a significant refocus on digital assets and coincides with the launch of the first two exchange-traded funds for cryptocurrency in Hong Kong.<\/p>\n<p>Dr. Ming Wu introduced the Conflux Tree-Graph public chain, explaining it is the only compliant, public and permissionless chain in China and has achieved 3000+ TPS, 5000+ nodes and 0.5s block generation. In terms of throughput, confirmation time, and cost of use, it has 2-3 orders of magnitude advantages over the international first-generation public chain \u201cBitcoin\u201d and the second-generation public chain \u201cEthereum\u201d. The system performance ranks first in the world.<\/p>\n<p>Dr. Mig Wu said \u2018Hong Kong\u2019s open environment for crypto provides more opportunities for practitioners in Web3 and Metaverse, especially for those from China. People here have more freedom to make the technique and business innovations in a compliant manner. This will also accelerate the integration of Web3 into the traditional internet business and economies to maximally extract its value. By expanding to Hong Kong, Conflux will be able to take a whole different strategy and have the potential to become the foundation to fulfill the Web3 vision of Hong Kong.\u2019<\/p>\n<p>The expansion follows Conflux Network being named a potential unicorn, a private startup company valued at over $1 billion, in the\u00a0<u>Emerging Giants in Asia Pacific<\/u>\u00a0joint report from HSBC and KPMG. \u00a0One of only five blockchain-related companies to make the prestigious list.\u00a0<\/p>\n<p><strong>About Conflux<\/strong><\/p>\n<p>Conflux is a permissionless Layer 1 blockchain connecting decentralized economies across borders and protocols. Recently migrated to hybrid PoW\/PoS consensus, Conflux provides a fast, secure, and scalable blockchain environment with zero congestion, low fees, and improved network security.<\/p>\n<p>As the only regulatory-compliant public blockchain in China, Conflux provides a unique advantage for projects building and expanding into Asia. In the region, Conflux has collaborated with global brands and government entities on blockchain and metaverse initiatives, including the city of Shanghai, McDonald\u2019s China, and Oreo.<\/p>\n<p>To learn more about Conflux, visit\u00a0confluxnetwork.org<\/p>\n<h5>Contact<\/h5>\n<p><strong>Melissa Tirey<\/strong><br \/><strong>Shift6 Studios<\/strong><br \/><strong>[email&#160;protected]<\/strong><\/p>\n<p>Source: <a href=\"https:\/\/www.cryptoglobe.com\/latest\/2022\/12\/conflux-network-expands-into-hong-kong\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Toronto, Canada, 28th December, 2022, Chainwire Dr.<\/p>\n","protected":false},"author":3,"featured_media":168928,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Conflux Network Expands into Hong Kong - 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