Kuala Lumpur, Malaysia, Oct. 10, 2022 (GLOBE NEWSWIRE) — Zetrix, the layer-1 blockchain infrastructure based in Malaysia, signed on October 6, 2022, a memorandum of understanding (MOU) with MIMOS Technology Solutions Sdn Bhd (MTSSB) to develop and operate the Malaysia Blockchain Infrastructure (MBI). MBI will serve as Malaysia’s national blockchain infrastructure for all levels of government and commercial sectors.
Zetrix, which launched its Mainnet on April 15, 2022, was founded and operated by Malaysia’s largest digital service provider, MY EG Services Berhad (MYEG). In cooperation with MTSSB, the two parties will spearheading the development of Malaysia’s national blockchain roadmap to bring Web-3-based services to the public and private sector.
In a prestigious event in the presence of the Prime MinisterDatuk Seri Ismail Sabri Yaakob, Minister for Science, Technology and Innovation Datuk Seri Dr Adham Baba, and EPU Minister Datuk Seri Mustapa Mohamed, MYEG and MTSSB signed the MOU to jointly work to advance the national blockchain roadmap which was launched on 9 August 2022.
Faisal Ahmad, CEO of MTSSB, commented: “This collaboration will accelerate the development, deployment and use of blockchain-related applications and services in both the public and private sectors. As a trading nation, Malaysia and Malaysian companies can greatly benefit from the use of blockchain applications and services .”
Zetrix also serves as the international supernode of Xinghuo BIF, the national blockchain infrastructure in China, to facilitate trade between China and international parties through blockchain. Together, Zetrix and Xinghuo BIF provide users with BID services that allow users to verify their identity on the chain through verifiable credentials, removing the need to verify the identity of users on every transaction.
Zetrix’s ties with Xinghuo BIF and their steps to develop the MBI initiative make Zetrix a national blockchain. The Xinghuo BIF partnership and the initiative with MBI make Zetrix a blockchain that is now involved in the development and growth of two national-level blockchain ecosystems. With exciting DApps as part of their ecosystem, such as their NFT marketplace called NFTPangolin, their blockchain-based identification service known as Zidentity, and their staking platform known as ZeFi Club, Zetrix is taking everything a step further to introduce their blockchain-based supply chain financing solution known as Zetrix TradeFi.
The new DApp will help facilitate trade and alleviate supply chain problems that have plagued the RCEP region since the covid pandemic.
Mr. Wong Thean Soon, CEO of MYEG commented: “We are honored to be able to contribute to Malaysia’s national blockchain roadmap and are convinced that the blockchain enablement of commerce will unlock greater opportunities and use cases to establish this as a true technological revolution, 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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About MY EG Services Bhd (“MYEG”)
MYEG is Malaysia’s premier digital services company. Having started operations in 2000 as the flagship e-government service provider, MYEG continues to play a leading role in driving technological change in Malaysia and elsewhere in the region, bringing a diverse and comprehensive range of innovations spanning online delivery of large public services to a number of commercial offers in areas such as immigration, car, health and financial services. Committed to staying at the forefront of the region’s digital revolution, MYEG has embraced the potential of blockchain technology to improve all aspects of life and is actively pioneering its adoption across key markets. Outside of Malaysia, MYEG has operations in other important regional markets such as the Philippines and Indonesia.
About Zetrix
Zetrix is a layer-1 public blockchain that facilitates smart contracts and delivers privacy, security and scalability. Zetrix’s cryptographic infrastructure can be introduced to multiple industries to connect governments, businesses and their citizens to a global blockchain-based economy.
Developed by My EG Services Bhd, the cross-border and cross-chain integration with Xinghuo Blockchain Infrastructure and Facility (BIF) enables Zetrix to serve as a blockchain gateway that facilitates global commerce by deploying critical building blocks for Web3 services such as Blockchain- based Identifiers (BID) and verifiable credentials (VC). For more information, log on to www.zetrix.com.
MIMOS Technology Solutions Sdn. Bhd.
MIMOS Technology Solutions Sdn. Bhd. (MTSSB) is a commercial arm of MIMOS Berhad, which provides solution integration, application development, independent verification and validation (IV&V) and technology consulting services in the ICT industry for both public and private market sectors.
