Conflux Network Joins Forces With Alibaba Cloud To Drive Web3 Innovation For Hong Kong Businesses
In Brief
Conflux Network partners with Alibaba Cloud to transform Hong Kong’s retail, tourism, entertainment, arts, and education with Web3 technology.
Layer 1 public blockchain, Conflux Network, unveiled that it has partnered with a cloud computing company, Alibaba Cloud, and Cyberport, Hong Kong’s leading digital technology hub. This joint effort aims to use advanced technology to innovate and transform various sectors in the Hong Kong market, including retail, tourism, entertainment, arts, and education.
Benefiting from the parties’ expertise and backgrounds, the collaboration seeks to develop a local Web3 ecosystem. It intends to deliver solutions that advance enterprise value throughout a variety of industries.
By uniting Alibaba Cloud’s cloud services with Conflux’s technology, the collaboration will allow businesses to integrate Web3. Meanwhile, Cyberport is anticipated to contribute with the resources and backing to encourage the development of established firms and early-stage ventures.
Key Partners’ Roles In Advancing Local Web3 Development
As part of the agreement, Conflux will provide its infrastructure for decentralized applications (DApps). Utilizing its distinctive Tree-Graph consensus mechanism, it will guarantee fast transactions and minimal waiting time, simultaneously adhering to high-security standards.
Alibaba Cloud will share its technology and extensive audience. The company will offer strong support for the growth of reliable and efficient blockchain infrastructure and Web3 applications.
Meanwhile, Cyberport serves as the local primary Web3 hub and the launching platform for Conflux Network. In 2023, it was granted with nearly $6.5 million in funding from the Hong Kong Government. This grant is intended to bolster the growth of the Web3 ecosystem, foster talent, promote industry advancement, and increase public knowledge of Web3.
The union intends to transform Web3 ideas into practical solutions, offering tailored services throughout various sectors in Hong Kong. Currently, the organizations are seeking additional collaborators to help shape the digital environment and develop a vibrant Web3 ecosystem.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
