Zetrix and MIMOS will jointly create the national public blockchain infrastructure for Malaysia

Kuala Lumpur, Malaysia, 7 October 2022 /PRNewswire/ — Zetrix, the layer-1 blockchain structure based in Malaysiaregistered 6 October 2022a memorandum of understanding (MOU) with MIMOS Technology Solutions Sdn Bhd (MTSSB) to develop and operate the Malaysia Blockchain Infrastructure (MBI). MBI will act as Malaysia’s national blockchain infrastructure for all levels of public and commercial sectors.

Zetrix, which launched the Mainnet on 15 April 2022was founded and run by Malaysia’s largest digital service provider, MY EG Services Berhad (MYEG). In cooperation with MTSSB, the two parties will at the forefront of 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 Minister, Datuk Seri Ismail Sabri Yaakob, Minister for Science, Technology and Innovation Datuk Seri Dr Adham Babaand EPU Minister Datuk Seri Mustapa Mohamed, MYEG and MTSSB signed MOU to jointly work to advance the national blockchain roadmap launched on 9 August 2022.

Faisal AhmadCEO 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, Malaysiaand 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 of Chinato 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 soonco-founder of Zetrix commented: “We are honored to be able to contribute to Malaysia’s national blockchain roadmap and is convinced that the blockchain enablement of trade will unlock greater opportunities and use cases to establish this as a true technological revolution, departing 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.”

About MY EG Services Bhd (“MYEG”)

A LOT is Malaysia’s leading digital service company. Having started operations in 2000 as the flagship provider of e-government services, MYEG continues to play a leading role in driving technological change in Malaysia and elsewhere in the region, bringing a diverse and full range of innovations spanning the online delivery of large public services to a range of commercial offerings in immigration, automotive, healthcare and financial services, among others. 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. Beyond MalaysiaMYEG has operations in other key regional markets such as e.g 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 in 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.

SOURCE Zetrix