April

Conflux

On June 12, Chinese President Xi Jinping sent an open <a href="https://mp.weixin.qq.com/s/l2o5f1m5ibw6sddmspUoxA" target="_blank" rel="noopener nofollow">letter</a> of praise to Andrew Chi-Chih Yao, chief scientist of the Conflux network and a professor at Tsinghua University.
“In the 20 years since you returned to China to teach, you have turned your patriotism into a journey of serving the country,” Xi wrote. “You have devoted yourself to Tsinghua University and made great achievements in teaching and educating people and scientific research innovation. I would like to express my sincere greetings to you.”
The Chinese president encouraged Yao to continue his journey of “exploring independent training models for innovative talents, promoting interdisciplinary and cutting-edge innovation, building a high-level talent training and scientific and technological innovation base, and making new contributions to achieving high-level scientific and technological self-reliance.” Xi also reiterated his support for Yao in “building a strong country in education and science and technology.”
Conflux is a <a href="https://cointelegraph.com/news/conflux-partners-with-china-telecom-to-develop-blockchain-sim-card">layer-1 blockchain</a> operating on a hybrid proof-of-work and proof-of-stake consensus operated by the Conflux Foundation, also known as the Shanghai Tree-Graph Blockchain Research Institute. It is supported by the Shanghai Municipal People’s Government, and the project claims to be the “only regulatory-compliant public blockchain in China.”
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 Chinese computer scientist&nbsp;Andrew Chi-Chih Yao. Source: CCTV
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On April 1, the Chinese Government <a href="https://cointelegraph.com/news/chinese-govt-public-blockchain-conflux">unveiled a new public blockchain</a> infrastructure platform led by Conflux Network, dubbed “Ultra-Large Scale Blockchain Infrastructure Platform for the Belt and Road Initiative.” This platform aims to offer an underlying public blockchain for cross-border applications. 
“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,” the government said at the time.&nbsp;
Conflux represents an outlier in the East Asian country that has harshly enforced its crypto ban in recent years, possibly due to its government affiliation. Despite a country-wide ban on initial coin offerings (ICOs) and crypto trading, Conflux currently operates its own token, which is trading at $0.1947 at the time of publication and has a fully diluted market capitalization of $975 million.&nbsp;
Related:&nbsp;<a href="https://cointelegraph.com/magazine/no-civil-protection-crypto-china-300k-list-coins-hong-kong-asia-express/">No civil protection for crypto in China, $300K to list coins in Hong Kong? Asia Express</a>

Chinese President Xi Jinping praises blockchain exec in open letter

Cointelegraph

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