Construction Giant XCMG Chooses Conflux for NFTs and Future Global Blockchain Applications

Toronto, Canada, 27th March, 2023, Chainwire

​​XCMG Construction Machinery Co., Ltd. (000425.SZ), the world’s third largest construction machinery manufacturers, announced a partnership with Conflux, a leading public blockchain network, and Zen Spark Technology Pte Ltd, a Singapore-based blockchain and fintech company. The partnership aims to leverage blockchain and Web3 technologies to explore more international use cases.

The partnership between XCMG, Conflux, and Zen Spark Technology Pte Ltd will leverage the strengths of all three companies to explore new scenarios for the application of blockchain and Web3 technology in the global market. By combining XCMG’s extensive global network with Conflux’s cutting-edge technology and Zen Spark’s fintech expertise, the three companies aim to develop new use cases for blockchain and explore the potential of Web3.

XCMG currently ranks third place in the world’s top 50 construction equipment manufacturers, according to KHL Group’s Yellow Table 2022 ranking. In the first half of 2022, despite obstacles, XCMG expanded to overseas markets and achieved export revenue of RMB 12.488 billion ($1.83 Billion), a year-on-year increase of 157.28%. As a world leader in the construction machinery industry, XCMG’s vision is driven by long-term investment and high-level innovation in research and development into the technology surrounding its equipment.

“We are excited to partner with Conflux and Zen Spark to explore new opportunities in global markets,” said XCMG’s Vice President of Machinery and General Manager of Import and Export Company, Liu Jiansen. The partnership between XCMG, Conflux, and Zen Spark Technology Pte Ltd is a significant milestone in the development of blockchain technology and its application in traditional industries. As the world becomes increasingly interconnected, the ability to leverage blockchain and Web3 technology to drive innovation and explore new business models is more important than ever.

“We are thrilled to partner with XCMG and Zen Spark to explore new opportunities in the global market,” said Fan Long, Founder of Conflux. “With our cutting-edge blockchain technology, and the expertise of Zen Spark in fintech and blockchain, we are well-positioned to create new solutions and explore new use cases for blockchain and Web3 technology. This…