Zetrix collaborates with UM and CAICT for research on cross-border blockchain implementation

by Arthur · February 14, 2023

Malaysia’s Blockchain Infrastructure Zetrix, a tier-1 public platform, will embark with strategic partners Universiti Malaya (UM) and the China Academy of Information and Communications Technology (CAICT), on a research collaboration leading to the commercialization of blockchain.

UM and CAICT’s project titled “Research on Key Issues of China-Malaysia Transborder Blockchain Infrastructure and Pilot Applications” was selected as part of the intergovernmental cooperation between Malaysia and the People’s Republic of China in science, technology and innovation, Zetrix said in a statement on Wednesday .

The Chinese government announced the Government-to-Government (G2G) program, a collaboration between the Chinese government and foreign governments.

Initiated by the Ministry of Science and Technology (MOST) of China, Malaysia is one of the 14 countries participating in the program.

China-Malaysia G2G cooperation covers four sectors, including public health (such as vaccine research and development (R&D), artificial intelligence (AI), information and communication technology (ICT) (blockchain, big data, etc.), as well as space remote sensing technology.

CAICT has chosen UM as its research partner, highlighting it as the higher education institution with the best research resources in Malaysia.

In addition, this cooperation can further increase technical expertise and provide both countries with mutual benefits.

The research proposes a system that can prevent fraud in supply chain processes using Blockchain technology for cross-border trade.

The system includes cooperation with smart contracts supported across multiple parties involved in trade with China, including the Belt and Road Initiative (BRI) countries.

The system will enable all stakeholders to collaborate on information exchange across organisations, all supported by a secure, immutable audit trail.

Wong Thean Soon, co-founder of Zetrix, is confident that the commercialization blockchain through Zetrix will bring many benefits to Malaysia.

“This strategic cooperation will further strengthen Malaysia’s China trade and investment ties, including through the Regional Comprehensive Economic Partnership (RCEP), which is the main driving force in integrating the regional economy with the use of 4th Industrial Revolution (4IR) technology blockchain, artificial intelligence (AI), the Internet of Things (IoT), as well as cloud computing technology and big data analysis (Big Data), with which Malaysia will be one of the leading countries in blockchain development, he said.

This project will stimulate talent exchange between China and Malaysia, such as sharing knowledge and expertise via study visits and other intellectual exchanges.

For human talent development, this project is expected to produce more PhD students from the Malaysian side in multidisciplinary areas.

The team members in both countries will jointly hold international conferences to promote innovative technologies in intelligent healthcare.

The successful implementation of the cross-border supply chain traceability blockchain platform will be promoted to countries along the “Belt and Road”, which has important economic benefits.

Dr. Saaidal Razalli Azzuhri (Faculty of Informatics and IT), research leader of UM, stated that this project will promote innovation of science and technology by disseminating it through peer-reviewed publications at top-ranking international conferences.

“This makes the project possible with the synergy of experts and interdisciplinarity across the faculties (computer science, law, economics and the Institute of China Studies),” he said.

Zetrix is a layer-1 public blockchain that facilitates smart contracts and delivers privacy, security and scalability.

Its cryptographic infrastructure can be introduced to multiple industries to connect governments, businesses and their citizens to a global economy.

Developed by MY EG Services Bhd, its cross-border and cross-chain integration with Xinghuo Blockchain Infrastructure and Facility (BIF) enables Zetrix to serve as a blockchain gateway that facilitates global trade by deploying critical building blocks for Web3 services such as Blockchain-based identifiers (BID) and verifiable credentials (VC).