Shanghai government invests $5M in blockchain project Conflux

Conflux Network, a state-endorsed public, permissionless blockchain project in China, today announced it has received a $5 million USD research grant from the Shanghai government.

The grant is funded by the Shanghai Science and Technology Committee and the Changning District government. This marks the first investment in a public permissionless chain within China from the Chinese government.

Only two grants have been given through this program, one for Conflux Network and the other for Fudan University.

Funding will be used on a project funding public chain research; demonstrating its application on an aerospace supply chain proposed to be built on Conflux Network.

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