Conflux ($CFX , Chinese name “树图链”) is currently the only compliant Layer 1 public blockchain in China with a clear government background, policy endorsement, and direct business partnerships with large central state-owned enterprises (SOEs).
Its state-owned background and partnerships with central SOEs are reflected in the following three areas:
1. Founding and background: Government funding and a research institute
Funding from the Shanghai Municipal Government: In 2020, with direct coordination and support from the Shanghai Municipal Government, the Shanghai Tree-Graph Blockchain Research Institute was established. The Shanghai Municipal Science and Technology Commission and the Changning District Government provided dedicated research funding (approximately US$5 million). It is one of the very few public blockchain projects in China to have received direct support from local government guidance funds and policy funding.
Undertaking national-level research projects: Conflux has participated extensively in and undertaken projects under the National Key R&D Program, including the development of a blockchain infrastructure platform for the Belt and Road Initiative.
Academic leadership and top-tier team: Turing Award laureate and academician Yao Qizhi serves as chief scientist. Founder Long Fan and most of the core team are from Tsinghua University’s “Yao Class.”
2. Key partnerships with central and state-owned enterprises
Conflux is also one of the few public blockchains to have established partnerships with large central SOEs at the core business infrastructure level:
China Telecom (one of China’s three major central SOE telecommunications giants)
BSIM card partnership: Conflux and China Telecom jointly developed and launched the BSIM card (blockchain SIM card). The card combines public blockchain key management with hardware, using the SIM card’s Secure Element to isolate blockchain private keys in hardware and sign transactions. This is a deployed project between a central SOE and a public blockchain at the hardware infrastructure level.
Eastcompeace (with a state-owned enterprise background)
Partnered with smart card supplier Eastcompeace, a listed company with state-owned enterprise ties through Potevio Group and China Electronics Technology Group Corporation (CETC), to develop and manufacture secure hardware modules.
Domestic brands including Xiaohongshu, iQIYI, and Anta
For Web3 marketing and compliant issuance of digital collectibles (NFTs), Conflux has been the underlying digital asset issuance chain chosen by the vast majority of mainstream domestic brands.
Its state-owned background and partnerships with central SOEs are reflected in the following three areas:
1. Founding and background: Government funding and a research institute
Funding from the Shanghai Municipal Government: In 2020, with direct coordination and support from the Shanghai Municipal Government, the Shanghai Tree-Graph Blockchain Research Institute was established. The Shanghai Municipal Science and Technology Commission and the Changning District Government provided dedicated research funding (approximately US$5 million). It is one of the very few public blockchain projects in China to have received direct support from local government guidance funds and policy funding.
Undertaking national-level research projects: Conflux has participated extensively in and undertaken projects under the National Key R&D Program, including the development of a blockchain infrastructure platform for the Belt and Road Initiative.
Academic leadership and top-tier team: Turing Award laureate and academician Yao Qizhi serves as chief scientist. Founder Long Fan and most of the core team are from Tsinghua University’s “Yao Class.”
2. Key partnerships with central and state-owned enterprises
Conflux is also one of the few public blockchains to have established partnerships with large central SOEs at the core business infrastructure level:
China Telecom (one of China’s three major central SOE telecommunications giants)
BSIM card partnership: Conflux and China Telecom jointly developed and launched the BSIM card (blockchain SIM card). The card combines public blockchain key management with hardware, using the SIM card’s Secure Element to isolate blockchain private keys in hardware and sign transactions. This is a deployed project between a central SOE and a public blockchain at the hardware infrastructure level.
Eastcompeace (with a state-owned enterprise background)
Partnered with smart card supplier Eastcompeace, a listed company with state-owned enterprise ties through Potevio Group and China Electronics Technology Group Corporation (CETC), to develop and manufacture secure hardware modules.
Domestic brands including Xiaohongshu, iQIYI, and Anta
For Web3 marketing and compliant issuance of digital collectibles (NFTs), Conflux has been the underlying digital asset issuance chain chosen by the vast majority of mainstream domestic brands.