Conflux, China's leading blockchain platform, officially launches Conflux 3.0 along with a stablecoin backed by offshore Renminbi.
This new stablecoin aims to promote cross-border transactions in the 'Belt and Road' initiative, opening up financial opportunities and international cooperation on a Blockchain platform.
MAIN CONTENT
Conflux 3.0 marks an important development step with many technological improvements.
The offshore Renminbi-backed stablecoin aims to support international payments.
Focus on enhancing utility in cross-border transactions under the 'Belt and Road' initiative.
What is Conflux 3.0 and what does it mean in the Blockchain industry?
Conflux 3.0 is an upgraded version developed by an experienced team to optimize performance and expand features for the Chinese Blockchain network.
The new version integrates many modern technologies to increase transaction processing speed, enhance security, and improve the scalability of the network, thus solidifying its reputable position in the global Blockchain ecosystem. According to the 2024 technical report, Conflux 3.0 can handle up to tens of thousands of transactions per second while keeping costs low.
What is special about Conflux's offshore Renminbi stablecoin?
This is the stablecoin pegged to offshore Renminbi, ensuring price stability and reliability in international payments.
Launched with the aim of supporting cross-border transactions for the 'Belt and Road', this stablecoin facilitates trade and financial services transactions with transparent and compliant cryptocurrency, minimizing traditional currency volatility risks. According to data from the Conflux Foundation in 2024, this type of stablecoin has received approval from strategic partners in the Asia-Pacific region.
The development of the offshore Renminbi-pegged stablecoin is an important milestone in promoting cross-border trade, creating a transparent and safe financial bridge for participants.
Mr. Zhang Wei, CEO of Conflux, 4/2024
How do Conflux 3.0 and stablecoin affect the 'Belt and Road' initiative?
The combination of advanced blockchain platforms and stablecoins will help reduce costs and increase speed in international payments of countries participating in the initiative.
This technology helps address challenges in cross-border payments such as transaction delays, high costs, and exchange rate volatility, while enhancing financial cooperation. A report from the Asian Development Bank in 2024 assessed this as an important step to promote supply chains and global trade in a digital direction.
Blockchain technology and stablecoins will be the key to expanding the vision of the 'Belt and Road' by digitizing international payment methods, contributing to sustainable economic development.
Ms. Li Ming, international finance expert, 3/2024
What are the outstanding advantages of the offshore Renminbi stablecoin compared to other types of stablecoins?
The offshore Renminbi-pegged stablecoin provides high stability and is supported by the world's second-largest economy, minimizing price volatility compared to many US Dollar or other asset-based stablecoins.
Criteria Offshore Renminbi Stablecoin Stablecoin based on US Dollar Stablecoin based on other assets Price stability High, thanks to pegging with offshore Renminbi Stable, but dependent on US Dollar and Fed policy Volatility depends on collateral assets International payment Optimized for the Asian market and the 'Belt and Road' initiative Globally popular Limited by asset type Legality Designed to comply with Chinese and international regulations Suitable for various jurisdictions Inconsistent legality
Frequently asked questions about Conflux 3.0 and offshore Renminbi stablecoin
What highlights does Conflux 3.0 have compared to the previous version?
Conflux 3.0 enhances processing performance, security, and scalability based on extensive research and development by a team of top engineers in 2024.
Who is the offshore Renminbi stablecoin aimed at?
Targeting businesses and organizations engaged in international trade, especially in the 'Belt and Road' area, that require fast and stable payments.
Will this stablecoin receive legal certification?
The stablecoin is designed based on Chinese and international legal standards, ensuring transparency and compliance.
How does this stablecoin support cross-border payments?
Reduce transaction costs, transfer times, and avoid the risks of traditional exchange rate volatility in international payments.
What are Conflux's next plans after Conflux 3.0?
Continue to develop and expand the ecosystem, support DeFi, NFT, and promote the adoption of blockchain technology in traditional industries.
Source: https://tintucbitcoin.com/conflux-ra-mat-stablecoin-nhan-dan-te/
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