The Hong Kong government asked Conflux Network co-founder and doctor Ming Wu to speak about the network’s potential role in the future of technological innovation enabled by Web3. Dr Ming Wu met with the directors and front desk personnel of several organizations to talk about the new “Policy Declaration on the Development of Hong Kong Virtual Assets,” which was released in October.

Due to strict travel control measures and regulatory uncertainty, many Hong Kong blockchain and cryptocurrency companies have relocated their operations to more accommodating regions over the past few years. Coinciding with the introduction of the world’s first two cryptocurrency exchange-traded funds in Hong Kong, this policy demonstrates a marked shift in emphasis toward digital assets.

According to Dr Ming Wu, the Conflux Tree-Graph public chain is the only complaint, public, permissionless chain in China, and it has achieved 3000+ TPS, 5000+ nodes, and 0.5s block generation. Compared to the international first-generation public chain “Bitcoin” and the second-generation public chain “Ethereum,” it has advantages of 2-3 orders of magnitude in throughput, confirmation time, and cost of use. This system has the best performance in the industry.