Malaysia Develops The National Public Blockchain Infrastructure

According to a press statement issued on Friday, Malaysia’s Blockchain Infrastructure will be jointly constructed and administered by Zetrix, a Malaysia-based layer-1 blockchain structure, and MIMOS Technology Solutions Sdn. Bhd. (MTSSB), a tech consultancy.

According to the release, Malaysia’s national blockchain infrastructure would be available to all levels of government and business sectors.

MYEG, an e-government services provider and digital services firm, created and built Zetrix’s Mainnet on April 15.

Malaysian Prime Minister Datuk Seri Ismail Sabri Yaakob was present at the occasion where MYEG and MTSSB inked an MOU alongside the nation’s Ministers of Science, Technology, and Innovation and Economic Planning.

Zetrix was announced earlier this year as the worldwide supernode to Xinghuo BIF, China’s national blockchain infrastructure, to allow commerce between China and foreign partners utilizing blockchain technology.

Mr. Wong Thean Soon, co-founder of Zetrix said:

“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.”

Malaysia has shown potential as a future crypto powerhouse for Asia by avoiding capital gains tax, possessing a British common law system, and employing multilingual workers.

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