Malaysia's National Public Blockchain Infrastructure to be Created by Zetrix and MIMOS Together

On October 6, 2022, Zetrix, a layer-1 blockchain organization based in Malaysia, signed an MOU with MIMOS Technology Solutions Sdn Bhd (MTSSB) to create and manage the Malaysia Blockchain Infrastructure (MBI). MBI will serve as the national blockchain infrastructure for Malaysia at all governmental and business tiers.

Zetrix was founded and is run by MY E.G. Services Berhad, the largest digital service provider in Malaysia, which debuted its Mainnet on April 15, 2022. (MYEG). To offer Web-3 based services to the public and private sectors, the two parties will lead the creation of Malaysia's national blockchain roadmap in collaboration with MTSSB.

The MOU between MYEG and MTSSB for working together to advance the national blockchain roadmap launched on August 9, 2022 was signed in a prestigious event in the presence of the Prime Minister, Datuk Seri Ismail Sabri Yaakob, the Minister of Science, Technology, and Innovation, Datuk Seri Dr. Adham Baba, and the Minister of EPU, Datuk Seri Mustapa Mohamed.

Faisal Ahmad, the Chief Executive Officer of MTSSB, stated that this partnership would hasten the progress and implementation, deployment and take-up of blockchain related applications and services in both the public and private sectors. Using blockchain applications and services can be highly advantageous for Malaysia and its companies, especially given the country's status as a trading nation.

In order to enable trade between China and other parties using blockchain, Zetrix also serves as the global supernode for Xinghuo BIF, China's national blockchain infrastructure. Zetrix and Xinghuo BIF work together to offer users BID services that enable users to verify their identity on-chain using verified credentials, doing away with the need to do so for each transaction.

Zetrix is a national blockchain as a result of its connections to the Xinghuo BIF and its efforts to advance the MBI program. Zetrix is currently a blockchain that is actively contributing to the expansion of two national-level blockchain ecosystems as a result of its cooperation with the Xinghuo BIF and its project with MBI. Zetrix is taking things a step further by introducing Zetrix TradeFi, a blockchain-based supply chain financing solution. Zetrix already has 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.

Since the COVID epidemic, the RCEP area has struggled with supply chain problems that will be resolved by the new DApp.

Mr. Wong Thean Soon, co-founder of Zetrix 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.”