China's Blockchain Revolution: Flourishing Amidst Crypto Ban

In a bold move, China unveiled its latest blockchain initiative on March 30, showcased during a demonstration meeting at the Shanghai Tree Map Blockchain Research Institute.

Partnering with prominent institutions such as Shanghai Jiao Tong University, Fudan University, Shanghai Maritime University, and the China Academy of Information and Communications Technology, the Shanghai Tree Map Blockchain Research Institute spearheaded this significant infrastructure development.

China's Collaboration with Conflux: Leveraging Blockchain for International Cooperation

Despite China's stringent ban on cryptocurrency activities, the government's collaboration with Conflux for this initiative underscores its commitment to blockchain technology's broader potential. The initiative aims to cater to the Belt and Road Initiative's unique transnational framework, focusing on economic, trade, and cultural exchanges across multiple countries.

The project is strategically vital for China's global influence expansion, highlighting its determination to leverage blockchain for international cooperation and development.

China's Non-Crypto Blockchain Partnership with Conflux: Emphasizing Government Policy Restrictions

While Conflux's involvement in the project is notable, it's essential to emphasize that the partnership won't involve cryptocurrency activities. As journalist Colin Wu pointed out, the Chinese government strictly prohibits such engagements, ensuring the blockchain's focus remains on non-crypto applications.

Despite the announcement, Conflux's native token, CFX, saw minimal price movement, trading at $0.41 with a 13.27% decline over the last 24 hours, as per BeInCrypto's data. Nonetheless, the initiative signifies China's steadfast pursuit of blockchain innovation despite regulatory constraints.