KUALA LUMPUR, Feb 14 – Malaysia’s blockchain infrastructure Zetrix, and their strategic partners, Universiti Malaya (UM) and China Academy of Information and Communications Technology (CAICT), will embark on a collaborative research to commercialise Malaysia’s layer-1 public blockchain platform, Zetrix.
In a statement, Zetrix said this would strengthen trade between Malaysia and China, data interoperability and further propel Malaysia into the Web3 era.
UM and CAICT’s project, entitled ‘Research on Key Issues of China-Malaysia Transborder Blockchain Infrastructure and Pilot Applications’, was selected as part of the intergovernmental collaboration between Malaysia and China in the field of science, technology and innovation.
“This strategic cooperation will further strengthen Malaysia-China trade and investment relations, including via the Regional Comprehensive Economic Partnership (RCEP).
“The RCEP is the main driving force in integrating the regional economy with the use of the Fourth Industrial Revolution (IR4.0) technology – blockchain, artificial intelligence (AI), Internet of Things (IoT), as well as cloud computing technology and big data analysis (Big Data).
“With that, Malaysia will be one of the leading countries in blockchain development,” said Zetrix co-founder Wong Thean Soon.
In November 2021, the Chinese government implemented government-to-government (G2G) programmes where it would collaborate with other countries
The China-Malaysia G2G cooperation covers four sectors, including public health such as vaccine research and development (R&D), AI, information and communications technology (ICT) such as blockchain, big data as well as space remote sensing technology.
UM was chosen as a research partner as it has the best research resources in Malaysia, said Zetrix, adding that the collaboration could further increase technical expertise and provide both countries with mutual benefits.
The collaboration proposes a system that could prevent fraud in supply chain processes using blockchain technology for cross-border trade.
“It comprises smart contract collaboration supported by multiple parties involved in China-Malaysia trade, including the Belt and Road Initiative (BRI) countries.
“The system should enable all stakeholders to collaborate in cross-organisational information-exchanges, all backed by a secure, unalterable audit trail,” said Zetrix.
The team members in both countries would jointly hold international conferences to promote the innovative technologies of intelligent healthcare.
Zetrix is a layer-1 public blockchain that facilitates smart contracts and delivers privacy, security and scalability.
Its cryptographic infrastructure could be introduced to multiple industries to connect governments, businesses and their citizens to a global blockchain-based economy.
