Conflux Network, a permissionless blockchain network, has received a second public endorsement from a Chinese government entity. In a release, Conflux said that the Hunan government has joined the Shanghai government in blessing their blockchain. Conflux notes that they are the only privately created blockchain that has received such a seal of approval.
Conflux Network is an open-source, layer-1 blockchain protocol that is said to deliver heightened scalability, security, and extensibility for next-generation applications including DeFi. Conflux Network is led by Turing Award recipient Dr. Andrew Yao. Founded in 2018, Conflux has raised $35 million in capital from investors including Sequoia China, Metastable, Baidu Ventures, F2Pool, Huobi, and IMO Ventures.
“Conflux is honored to be endorsed by the Hunan Government, whom we very much look forward to working with,” said Conflux Global Managing Director, Eden Dhaliwal. “Hunan is evolving into an epicenter for science and technology innovation and Conflux is proud to be at the forefront of this exploration and development. We strongly believe a positive relationship with Chinese state-backed entities is an instrumental piece to the puzzle of widespread blockchain adoption.”
Hunan is a rapidly-growing hub of science and technology innovation. The municiple government will back Conflux in the creation of the “Key Laboratory of Blockchain Infrastructure and Applications of Hunan, a training and research lab at Hunan University.”
The Key Laboratory of Blockchain Infrastructure and Applications of Hunan presents an opportunity to introduce Conflux, and its technology and techniques, to students while encouraging blockchain development. Furthermore, it cultivates an educational and mentor-mentee relationship that could eventually drive more talent into the Conflux ecosystem.
Dhaliwal added that the Lab should create a launching pad for development and more research:
“Not only will Conflux founders Fan Long and Dr. Ming Wu be presented as honorary professors, they will help foster an ongoing partnership with students and professors who may be interested in developing a Conflux incubation in the future.”