Chinese Blockchain Startup Hires VC Exec to Lead North American Expansion

Blockchain startup Conflux has hired Eden Dhaliwal, the former head of crypto at Outlier Ventures, as a managing director to lead its expansion in North America.

"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," he said.

Its public chain project raised $35 million from major investors such as Sequoia and Huobi via a private token sale in 2018.Conflux's blockchain uses a proof-of-work mechanism, similar to the bitcoin network's, to reach consensus on the state of the ledger with its native tokens.

The firm claims the public permissionless network is able to scale up while maintaining the same level of security as any PoW network.

Outlier Ventures has backed a spate of blockchain protocol providers.

Conflux aims to provide a public decentralized platform where developers can create applications and marketplaces, Dhaliwal said.

The firm sees great potential there since most of the countries do not have a legacy system, according to Dhaliwal.

Toronto is one of the largest financial hubs in North America and it has a very strong developer community, Dhaliwal said.

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