While partnership news continues to increase in the cryptocurrency market, the latest news came from Conflux Network and Alibaba Cloud.
Partnership Announcement
Public layer-1 blockchain project Conflux Network announced in its official statement that it has formed a partnership with Chinese e-commerce giant Alibaba Cloud.
Goals and Objectives
This collaboration aims to revolutionize retail, tourism, entertainment, arts, education, and other sectors with cutting-edge technology in the Hong Kong market. Leveraging Conflux’s proven success in China, Alibaba Cloud’s cutting-edge technologies, and the unwavering support of Cyberport’s vibrant community, this collaboration is poised to grow a thriving Web3 ecosystem in Hong Kong.
Market Reaction
The partnership news failed to impact the Conflux (CFX) price amid a broad market decline. CFX is down 6.2% over the last 24 hours and is trading at $0.12 at the time of writing.
The partnership between Conflux Network and Alibaba Cloud aims to drive innovation in the Web3 sector in Hong Kong. It holds the potential to significantly impact various industries through the combined expertise and technologies of the two companies.
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