Conflux, the Chinese blockchain startup, has hired Eden Dhaliwal, the former crypto head of venture fund Outlier Ventures, as its new global managing director.
As detailed by a Coindesk report, he will lead the Beijing-based startup’s efforts to expand its business in North America.
Based in Toronto, he will help set up Conflux’s Toronto office, which is scheduled to open in the next two weeks and will head a ten-person team to conduct research and seek local investors and business partners.
“Generally, our network is going to be a pathway and conduit into the China market for our partners in North America, given our traction in the country,” Dhaliwal told the crypto-focused publication.
He is joining the startup from Outlier Ventures, where he headed its investments in the blockchain and crypto-related firms for three years. He will continue to work as an advisor to the venture firm, along with a handful of other blockchain companies.
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The Beijing-headquartered company is developing a proof-of-work blockchain, reaching consensus with its native token. Its main goal is to overcome the scalability limits.
“We think there are opportunities to expand beyond Ethereum, especially in the decentralized finance space,” Dhaliwal added. “Our early focuses are definitely on DeFi and open finance such as decentralized exchanges, stablecoins, payments, remittance, and lending.”
Chinese influence in blockchain
Conflux’s global expansion goals took off as it received financial support from the Shanghai government last month. It is also conducted a private token sale in 2018, raising $35 million from firms like Sequoia and Huobi.
The Chinese company also entered the African market by setting up an office in Nigeria and sees huge potential in many parts of the continent without having a traditional financial infrastructure.