Malaysia to get its own national public blockchain infrastructure

Malaysia-based layer 1 blockchain structure, MY E.G. Services Berhad (MYEG) and tech consultancy, Mimos Technology Solutions Sdn Bhd (MTSSB) jointly signed a memorandum of understanding (MOU) to co-create and operate Malaysia’s national blockchain infrastructure, according to a press release published on October 6.

The goal of creating the blockchain is to bring next-generation Web3 applications to the government and commercial sectors in the country and bolster Malaysia as a leading technology innovator nation and help realize the objectives outlined in Malaysia’s National Blockchain Roadmap launched by the tech ministry in August.

​​MYEG’s Zetrix blockchain and Mimos blockchain will be the components of the Malaysia Blockchain Infrastructure (MBI).

Zetrix is a layer 1 public blockchain run by MYEG while the MBI is a key component of the National Blockchain Roadmap.

Zetrix launched its mainnet on April 15 and emerged as the international supernode to the national blockchain infrastructure of China, Xinghuo BIF, which is leveraged to facilitate cross-border trade between China and other parties.

Mr. Wong Thean Soon, Group Managing Director of MYEG commented, ‘We are honoured to be able to contribute to Malaysia’s national blockchain roadmap and firmly believe that the blockchain enablement of trade will unlock greater opportunities and use cases to establish this as a true technological revolution, departing away from speculative tokenomics. The next generation of the economy is digital and the distributed ledger will be the ubiquitous single source of truth for all commerce.’

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