Malaysia wants to enter Web3 through MBI, its national public blockchain infrastructure.
The Asian country is following in China's footsteps and will begin developing its own blockchain. Through it, Malaysia wants to bring the public and private sectors to Web3, to offer next-generation services, boost its technological development and consolidate itself as one of the most innovative nations in the region and the world.
To achieve their goals, MyEG Services Berhad, a company dedicated to developing e-government services solutions in Malaysia, and the national research center MIMOS Technology, attached to the country’s Ministry of Science, Technology and Innovation, have signed a memorandum of understanding, known as MOU, to work together on the development of a national public blockchain, which will allow the government to bring new Web3 applications to the country’s government and commercial sectors.
The news was released by Zetrix, the blockchain platform developed by MyEG Services and which the Malaysian government will use to build its own national blockchain called Malaysia Blockchain Infrastructure (MBI).
Zetrix is a layer-1 blockchain network designed for the next generation of decentralized applications.
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Malaysia Blockchain Infrastructure
Malaysia’s blockchain infrastructure, MBI, is one of the key elements in the national blockchain adoption roadmap announced by the country’s Ministry of Science, Technology and Innovation in August this year.
Malaysian Prime Minister Datuk Seri Ismail Sabri Yaakob attended the signing of the MoU between MyEG Services and MIMOS Technology.
Malaysia and blockchain technology
The Malaysian government has been promoting blockchain technology knowledge and development since 2015.
Through MyGoverment, an initiative driven by the country’s Management Planning and Administrative Modernisation Unit (MAMPU), Malaysia has initiated several projects focused on exploring the potential of blockchain and distributed ledger technology, or DLT.
In her web portalThe Malaysian government explains that it has been looking for ways to adopt blockchain and DLT for years, to introduce both innovations to the market and the public.
Since 2016, Malaysia has hosted various events focused on blockchain and new technologies, some of which have featured well-known personalities from the crypto industry, such as Andreas Antonopoulos. In addition to this, Malaysia is one of the founding member countries of the Blockchain and Distributed Ledger Technology Committee and has contributed to the development of the standard ISO/TC 307.
Malaysia has also been supportive of the development of blockchain companies and has used this technology to combat document forgery.
It is worth noting that the Malaysian Ministry of Education is already using blockchain to combat fake degrees and document tampering.
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