Xi Jinping Praises Blockchain Innovator

President Xi Jinping wrote a public letter praising Tsinghua University’s eminent scholar Andrew Chi-Chih Yao, the principal scientist of Conflux Network.

President Xi’s statement in the letter on June 12 praised Yao’s two-decade commitment to improving China’s scientific scene since his return. “In the 20 years since you returned to China to teach, you have turned your patriotism into a journey of serving the country,” Xi said, praising Yao’s fundamental contribution to forming Tsinghua University’s scientific research and education.

The Chinese leader’s letter Emphasizing Yao’s contribution to developing creative potential and multidisciplinary research matched the country’s goals for technological self-reliance. Xi’s support mainly covers Yao’s initiatives to strengthen China’s scientific and educational capacity.

Conflux: China’s Regulatory-Compliant Public Blockchain

Operating under the Conflux Foundation, sometimes known as the Shanghai Tree-Graph Blockchain Research Institute, Conflux is a layer-1 blockchain using hybrid proof-of-effort and proof-of-stance consensus processes. The Shanghai Municipal People’s Government supports the initiative, which takes great satisfaction in being China’s only public blockchain that complies with regulations.

On April 1, the Chinese government unveiled plans for a Conflux Network-led new public blockchain infrastructure platform. Termed the ” Ultra-large Scale Blockchain Infrastructure Platform for the Belt and Road Initiative,” this major international development project seeks to underlie cross-border cooperation along the Belt and Road Initiative.

The main focus of the project is to create a public blockchain infrastructure platform. This platform will be able to support the implementation of cross-border cooperation projects along the Belt and Road Initiative. It will provide the base for developing applications that… https://t.co/MkWgRY2G8A

— Conflux Network Official (@Conflux_Network) April 1, 2024

Conflux is one remarkable exception despite China’s strict attitude toward cryptocurrencies, including a prohibition on ICOs and crypto trading. With a completely diluted market value of $975 million, the project’s token was $0.195 as of publication.