The Shanghai government has invested over $5 million in Conflux while putting the project on a list of 57 companies that focus on emerging technologies.
Former NEO general manager Zhao Chen joins Hong Kong-based venture capital firm CMCC Global to lead blockchain equity investments in mainland China at a new Shanghai office.
Shanghai will open a blockchain research center by the end of December with substantial investment, even as China’s government continues to crack down on crypto-related businesses.