top of page

Newman Group Announces Strategic Investment in Conflux to Scale Hong Kong Enterprise Blockchain-based Solutions



Hong Kong, 27, Sep, 2023 - Newman Group, a global Web3 conglomerate and parent company of Newman Capital, an early-stage venture capital firm, is thrilled to announce their strategic investment in Conflux Network, a permissionless Layer-1 blockchain connecting decentralized economies across borders and protocols, to accelerate adoption and scalability of Hong Kong enterprise blockchain-based solutions. 


In recent years, the adoption of blockchain technology has surged, bringing about transformative changes across multiple industries due to its transparent, secure, and permissionless characteristics. However, the scalability hurdle has hindered its widespread adoption, especially in enterprise applications. Recognizing this challenge, Newman Group’s strategic investment in Conflux aligns the aim of both parties to collectively tackle this obstacle for enterprises by leveraging their combined expertise and resources.


Conflux, known for its high-performance blockchain infrastructure, offers a unique and scalable solution for enterprise applications. Its innovative Proof-of-Work (PoW) consensus algorithm, Tree-Graph, enables high throughput and low latency, making it ideal for handling large-scale transactions and smart contracts. It is also the first and only regulatory compliant public and permissionless blockchain permitted by the Chinese government. Since mainnet launch in 2020, Conflux has secured major partnerships with consumer brands, media, enterprises, and universities including DFS, Unilever, McDonald’s China, 解放日报, 浙江卫视, iQIYI and Tsinghua University. The network has +24 million unique wallet addresses, has processed +100 million transactions, and its underlying technology is used by many protocols including Mints, a digital collectibles platform which launched Vincent Fang and Jay Chou’s collection of Chinese Digital Art Dolls. 


More recently, Conflux has partnered with notable brands Little Red Book (小红书), China’s largest social media and ecommerce platform, and China Telecom, the second largest wireless carrier in China with +390 million mobile subscribers. Conflux’s integration with Little Red Book (小红书) allows its +200 million users to mint non-fungible tokens (NFTs) to display in the digital collection section of their profile pages called ‘R-Space’. China Telecom’s collaboration with Conflux enables the Layer-1 to pilot a blockchain-enabled SIM (BSIM) card which will roll out in Hong Kong at the end of 2023. The BSIM card will allow users to access blockchain-based functions such as on-chain data storage, digital identity verification, management of digital assets, as well as improve mobile phones’ defense against cyber attacks. These two strategic partnerships mark major milestones for mass adoption in the region.


"We are thrilled to announce our strategic investment in Conflux to guide Hong Kong-based enterprises seeking blockchain-based solutions," said Adrian Lai, Founder of Newman Group. "By combining our network and Web3 expertise with Conflux's scalable infrastructure and development support, we aim to empower organizations to harness the full potential of blockchain technology in a way that is complementary to their existing objectives and structures."


"Asia will lead the next Web3 cycle and our commitment to expanding our mandate in Hong Kong further cements our conviction of it being the central crypto hub of Asia," said Fan Long, Founder of Conflux. "Newman Group’s deep understanding of the industry and their commitment to fostering innovation align with our vision at Conflux. Together, we aim to create robust solutions for enterprises that can scale securely and effectively." 


In 2023, Conflux made a strategic move by expanding its business to Hong Kong, establishing its headquarters at Hong Kong Cyberport, and joining as a current incubatee of the Cyberport Incubation Programme. As an active member of the Web3 Hub@Cyberport community, Conflux greatly benefits from the extensive support Cyberport provides in investor network, marketing, networking, and collaboration opportunities. This robust support and ecosystem empowers Conflux to accelerate its growth within the Web3 space its overall success in the Hong Kong market.


Headquartering in Hong Kong provides Newman Group with unparalleled advantages. As a global business center that is home to numerous local, regional, and international corporations, the city offers a range of benefits including access to capital markets, an attractive tax system, and a free economy. With its central geographical location in Asia alongside a changing regulatory landscape favorable to fintech and Web3 developments, enterprises located in Hong Kong are primed to leverage blockchain-specific characteristics to provide novel approaches to solve for problems including, but not limited to, privacy, security, efficiency, automation, identity, and supply chain logistics however few corporations have access to expertise required to design such solutions. With this strategic investment, Newman Group and Conflux set out to advise and develop strategies, processes, and technical infrastructure to enable enterprise adoption of Web3 in Hong Kong. 


About Newman Group


Newman Group is a globally recognized Web3 conglomerate, headquartered in Hong Kong. We are committed to value creation for the Web3 ecosystem with our investment, incubation, advisory and accelerator arms. Leveraging our profound expertise in the Asian landscape, extensive network of strategic partnerships, and hands-on experience in the Web3 domain, we are uniquely positioned to empower aspiring entrepreneurs and enterprises worldwide to achieve success. Our visionary approach aims to bridge the divide between the Eastern and Western worlds, while navigating the complexities of each Asian market. Newman Group is poised to shape the future of the decentralized web and provide unparalleled opportunities for our valued stakeholders.


About Conflux Network


Conflux is a permissionless Layer 1 blockchain connecting decentralized economies across borders and protocols. Recently migrated to hybrid PoW/PoS consensus, Conflux provides a fast, secure, and scalable blockchain environment with zero congestion, low fees, and improved network security.


As the only regulatory-compliant public blockchain in China, Conflux provides a unique advantage for projects building and expanding into Asia. Conflux has collaborated with global brands and government entities in the region on blockchain and metaverse initiatives, including the city of Shanghai, McDonald's China, and Oreo.


To learn more about Conflux, visit: confluxnetwork.org

Kommentare


Die Kommentarfunktion wurde abgeschaltet.
bottom of page