The blockchain initiative comes despite mainland China’s hostile attitude toward cryptocurrencies.

The Chinese government has launched a new public blockchain infrastructure platform led by Conflux Network.

The new platform, dubbed “Ultra-Large Scale Blockchain Infrastructure Platform for the Belt and Road Initiative,” aims to offer an underlying public blockchain for cross-border applications, according to an April 1 X post by Conflux Network:

Conflux Network is a multichain blockchain ecosystem operated by the Conflux Foundation, also known as the Shanghai Tree-Graph Blockchain Research Institute.

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