Alibaba Cloud and Conflux Network have announced a strategic partnership aimed at advancing Web3 solutions for businesses across various sectors. This collaboration is poised to bring transformative changes to industries such as retail, tourism, entertainment, arts, and education, leveraging cutting-edge technology to drive innovation in the Hong Kong market.
As a prominent leader in blockchain technology, Conflux Network provides a fast, secure, and scalable infrastructure for decentralized applications (DApps). Its unique Tree-Graph consensus mechanism offers high transaction speeds and low latency while maintaining robust security measures, making it an ideal partner for developing innovative Web3 solutions.
According to the firm’s report, Alibaba Cloud brings to the table its extensive technological expertise and a vast customer base. Renowned for supporting the development of secure and efficient blockchain infrastructure and Web3 applications, Alibaba Cloud’s global network, reliable computing resources, and strong data protection capabilities position it as a crucial player in the cloud computing market.
Serving as Hong Kong’s central hub for Web3 innovation, Cyberport is the launchpad for Conflux Network’s initiatives in the region. The hub, which received a HK$50 million grant from the Hong Kong SAR Government last year, is committed to fostering a robust third-generation internet ecosystem. This funding is directed towards accelerating the growth of the Web3 ecosystem, cultivating talent, promoting industry progress, and raising public awareness about Web3 technologies. Since its establishment, Web3Hub@Cyberport has attracted around 230 Web3 firms from over 15 countries, including notable unicorns like Animoca Brands, HashKey, and CertiK.
About the Partnership
The collaboration between Alibaba Cloud, Conflux Network, and Cyberport represents a significant step forward in cultivating a vibrant Web3 ecosystem in Hong Kong. By combining Conflux’s proven success in China with Alibaba Cloud’s advanced technologies and the strong support of Cyberport’s dynamic community, the partnership aims to deliver comprehensive solutions that enhance business value across various sectors.
Alibaba Cloud’s robust cloud services, coupled with Conflux’s innovative blockchain technology, will empower enterprises of all sizes to adopt Web3 solutions. Cyberport will provide essential resources and guidance to support growth for both large corporations and startups, creating an environment conducive to innovation and development.
This partnership envisions turning Web3 concepts into tangible solutions, offering customized services across a wide range of industries in Hong Kong. By encouraging further collaboration, the aim is to build a dynamic and inventive Web3 ecosystem that can drive substantial economic and technological growth in the region.
The alliance between Alibaba Cloud and Conflux Network marks a new chapter in Hong Kong’s journey towards becoming a global leader in Web3 technology, setting the stage for significant advancements in blockchain applications and digital innovation.
