The government of Hong Kong invites Dr. Ming Wu, the co-founder of the Conflux network, to deliberate on effective ways to increase Web3 activities in the country. Hong Kong’s tech-savvy generation has been on the rise encouraging the government to partner with Tech firms to draw more benefits from Tech innovation.
Conflux Unprecedented Visit to Hong Kong
The changes in regulation and restrictive measures enacted amid the Covid-19 pandemic influenced Hong Kong investors to embrace digital assets. Such stringent regulations resulted in the launching the first Ether and Bitcoin exchange-traded funds (ETF).
Despite launching digital assets, Hong Kong Financial Services and the Treasury Bureau (FSTB) have developed policies to foster the growth of virtual assets. During the visit, Wu interacted with government and private sector executives working on the virtual assets project.
Notably, Wu presented the Conflux-Tree graph structure to the team, highlighting its key features. He argued that China had embraced the Tree graph since it has the best system in terms of performance. Wu argued that the Conflux-Tree graph public chain was more advantageous than the first-gen.
Does Hong Kong have Desirable Crypto Space?
The government of Hong Kong’s transition to the digital economy is at its pinnacle. The Conflux network is mandated to expedite Web3 integration in the country.
Wu acknowledged that the government’s indispensable efforts in Tech innovation would attract more Web3 and Metaverse developers from China and other regions to explore new opportunities. Undeniably, Wu disputed that the country has friendly policies that allow people to explore business innovations while conforming to regulations.
Despite the government efforts, Wu assured the project team that Conflux would implement different strategies to expedite Web3 integration into traditional businesses and emerging economies.
Conflux Expands to Hong Kong
Conflux Network is a smart contract Layer 1 multi-chains that connects diverse groups across the globe. Conflux was rebranded as a potential unicorn in the Emerging Giants in Asia Pacific report. According to the report prepared by KPMG and HSBC, Conflux is valued at $1 billion and listed among the top five innovative blockchain companies.
Moreover, Conflux offers a cost-efficient platform that is fast and secure. The hybrid PoW/PoS technology positions Conflux at a pivotal point to support firms within Asia in integrating improved techniques. Conflux has partnered with local brands and international companies to support blockchain and metaverse projects.
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