Dialogue at the Shanghai-Hong Kong Web3 Conference
In a recent dialogue at the Shanghai-Hong Kong Web3 Complementary Collaborative Development Conference held on July 19, Jessica, the CEO of MetaEra, engaged with Professor Long Fan, the visionary behind Conflux, China’s only public blockchain that operates within regulatory compliance. Long Fan, a graduate of Tsinghua University’s prestigious Yao Class and a PhD holder in computer science from MIT, currently serves as a professor at the University of Toronto.
Insights into Conflux and the Blockchain Sector
During their conversation, he provided insights into the trajectory of Conflux and deliberated on the evolving landscape of the blockchain sector, particularly in light of tightening global regulations on digital currencies.
As Conflux celebrates its seventh anniversary, the company is set to launch its 3.0 version of the blockchain this August. Furthermore, it is poised to take an active role in the Belt and Road Initiative’s offshore RMB stablecoin pilot. Following this announcement, the native token of Conflux, CFX, surged nearly 106% within 24 hours, peaking above $0.25, reflecting a robust market enthusiasm.
Amid a clarifying regulatory landscape and an influx of institutional interest, Long Fan emphasized Conflux’s intent to leverage its unique compliance advantages to widen its ecosystem and asset offerings on the platform.
“Our aim is to harness the current market environment, focusing on collaborations particularly in China, Hong Kong, and broader Asia,” explained Long Fan.
The conversation highlighted Conflux’s commitment to open cooperation, especially in vital areas such as stablecoins and Real World Assets (RWA).
“We have established contacts with nearly all teams pursuing stablecoin licenses in Hong Kong, and we’re engaging with projects that have the capability and willingness to implement RWA initiatives,” Long Fan stated.
Conflux as a Pivotal Infrastructure Provider
This collaborative vision positions Conflux as not just a public blockchain, but as a pivotal infrastructure provider, aiming to support partners with compliance and business needs while selecting teams dedicated to practical solutions. The effectiveness of this strategy is evidenced by successful projects like Conflux’s partnerships with Ant Financial on RWA and with AnchorX on stablecoins, showcasing how compliance can translate into tangible business outcomes.
The Shanghai-Hong Kong Synergy
The theme of the conference distinctly resonates with Conflux’s development philosophy, as Shanghai and Hong Kong play integral roles in its ecosystem. Long Fan cleverly likened the Conflux Tree Graph blockchain to a highway, where the foundational technologies are produced in Shanghai while Hong Kong serves as a hub for generating innovative applications. This model not only epitomizes a strategic division of labor born from a deep technical background but also illustrates substantial market insight.
Originating from academic research initiatives by Tsinghua’s Yao Class, Conflux has established its research and development in Shanghai, fortifying its technical credentials over the years. Meanwhile, Hong Kong’s attributes in global finance and favorable Web3 policies have fueled the deployment of over half of Conflux’s ecological projects.
Broader Implications of Dual-City Collaboration
Long Fan contemplates the broader implications of this dual-city collaboration, theorizing that it carries significance beyond Conflux, potentially serving other Web3 projects. He asserts that Hong Kong could emerge as a critical node within the global Web3 framework, fostering unity among Chinese entrepreneurs in the sector.
This perception reflects Long Fan’s dual identity as both a scholar and an entrepreneur, aiming not just for Conflux’s success but nurturing the overall growth of the blockchain landscape. He perceives the Shanghai-Hong Kong synergy as not merely a strategy for Conflux, but as a vital mechanism for enhancing China’s competitive edge in the global arena.
Future of Chinese Web3 Enterprises
With a focus on merging technological advancements with capital strategies, it’s anticipated that projects spearheaded by Chinese innovation can carve out distinct advantages in the Web3 domain, generating significant influence in the global digital assets market.
The journey of Conflux, transitioning from an academic initiative to a critical market player, mirrors the maturation process of China’s blockchain industry from theoretical exploration to practical application. As this new chapter unfolds, pressing questions arise: how will compliance benefits be transformed into ecological strengths? How can global competitiveness be established through cross-regional collaboration? And importantly, how can leading technology be maintained in pragmatic ways?
Through this insightful dialogue, we glean a vision that intertwines technical rigor with strategic business acumen, underpinning compliance as the cornerstone of progress, fostering development through inclusivity, facilitating mutual gains via partnerships, and looking ahead with a global perspective. This collaborative framework may very well be the essential breakthrough for Chinese Web3 enterprises navigating the future.
