Conflux Network and Alibaba Cloud announced a partnership to develop the Web3 ecosystem based on Hong Kong Cyberport.

TechFlow news, September 4th, according to official news, Conflux Network and Alibaba Cloud announced a partnership to bring innovative Web3 solutions to Hong Kong enterprises. As Hong Kong's main Web3 hub, Cyberport will become the launch base for Conflux Network. This collaboration will combine Conflux's successful experience in the Chinese market, Alibaba Cloud's advanced technology, and strong support from the Cyberport community to jointly build a thriving Web3 ecosystem in Hong Kong.

Last year, the Hong Kong Special Administrative Region government provided HK$50 million in funding to Cyberport to accelerate the development of the Web3 ecosystem. Currently, Cyberport has attracted about 230 Web3 companies from over 15 countries and regions, including three unicorn companies: blockchain gaming company Animoca Brands, Asia's leading digital asset financial services group HashKey, and top blockchain network security company CertiK. This strategic collaboration marks an important breakthrough for Web3 technology in the Hong Kong market and is expected to establish a more diversified and innovative Web3 ecosystem in Hong Kong.