Malaysia’s Blockchain Infrastructure Zetrix, a layer-1 public platform will be embarking together with strategic partners Universiti Malaya (UM) and China Academy of Information and Communications Technology (CAICT), on a collaborative research leading to commercialisation of blockchain.

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 the People’s Republic of China in the field of 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 overseas governments.

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

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

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

Additionally, this collaboration can further increase technical expertise and provide both countries with mutual benefits.

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

The system comprises smart contracts collaboration supported across the multiple parties involved in China trade including the Belt and Road Initiative (BRI) countries.

The system should enable all stakeholders to collaborate in cross oganisational information exchanges, all backed by a secure, unalterable audit trail.

Wong Thean Soon, the Co-Founder of Zetrix, is confident that the commercialisation blockchain through Zetrix will bring many benefits to Malaysia.

“This strategic cooperation will further strengthen Malaysiaof China trade and investment relations, 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), 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,” he said.

This project will spur talent exchanges 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 several PhD students from the Malaysian side in multidisciplinary areas.

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

The successful implementation of the crossborder 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 o f Computer Science & IT), the research leader for UM, stated that this project will promote the innovation of science and technology by disseminating it through peer reviewed publications in top rank international conferences.

“This makes the project possible with the synergy of experts and interdisciplinary across faculties (computer sciences, laws, economics, and 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 globa based economy.

Developed by M Y E.G. Services Bhd, the 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).

China’s Xinghuo BIF and Malaysia’s Zetrix jointly introduce Web3 Services