July 24, 2024
Blockchain News

There Will Be A National Public Blockchain In Malaysia

A memorandum of understanding (MOU) was signed on Thursday by MY E.G. Services Berhad (MYEG) and Mimos Technology Solutions Sdn Bhd (MTSSB) to jointly build and run Malaysia’s national blockchain infrastructure and bring the country’s private and public sectors up to speed with Web 3.0.

The Malaysia Blockchain Infrastructure (MBI), according to a press release, would be made up of MYEG’s Zetrix and Mimos blockchains.

Zetrix is a layer 1 public blockchain that is run by MYEG, a provider of e-government services in Malaysia.

Through Zetrix, MYEG acts as a global supernode that links companies to the Xinghuo BIF blockchain network, which is supported by the Chinese government.

On Thursday, Zetrix also announced Zetrix TradeFi, a decentralized application for supply chain finance that uses blockchain technology to streamline trade in the Regional Comprehensive Economic Partnership (RCEP).

The National Blockchain Roadmap, which was unveiled by the ICT ministry in August, includes the MBI as a significant component.

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