Establishing an International Backbone and Supernodes in Xinghuo BIF, National Blockchain Infrastructure
KUALA LUMPUR, Malaysia, October 13, 2021 / PRNewswire / – MY E.G. Services Berhad (MYEG) today signed a Memorandum of Understanding (MoU) with the Institute of Industrial Internet & IoT, China Academy of Information and Communications Technology (CAICT) of China to expand China\’s blockchain network, China Xinghuo Blockchain Infrastructure and Facility (\”Xinghuo BIF\”), by introducing spinal cords and supernodes outside China to be known as Zetrix.
Mr. Wong Thean Recently, the Executive Director of MY E.G. Berhad jobs; YB Dato \’Sri Dr. Adham Bin Baba, Malaysian Minister of Science, Technology & Innovation; Dato ’Dr. Norraesah Binti Haji Mohamad, Executive Chairman of MY E.G. Berhad jobs; Ms Li Haihua, Deputy Director of Internet and Internet Industrial Equipment (IoT), China Academy of Information and Communications Technology (CAICT); and Ms. Wang Zhiqin, Deputy Director of China Academy of Information and Communication Technology (CAICT)
Countries and companies especially in the Regional Comprehensive Economic Partnership (RCEP) regions can use Zetrix as a gateway to China\’s Xinghuo BIF network to increase the power of the free trade agreement through blockchain technology. Pilot applications in blockchain will have the potential to track trade, digital ownership, procurement management, financing and digital trading will enable a new wave of innovation and talent development towards a seamless future. The RCEP is the world\’s largest free trade agreement, accounting for 30% of global GDP and 30% of the world\’s population, with regional trade between member states amounting to US $ 2.5 trillion annually.
The event was co-hosted by World Expo 2020 in Dubai, Malaysia Pavilion, with the signing ceremony witnessed by YB Dato \’Sri Dr. Adham Bin Baba, Minister of Science, Technology & Innovation in Malaysia. Attendees in Kuala Lumpur, Malaysia were Datuk Zainal Abidin Bin Abu Hassan, Secretary General of the Department of Science, Technology & Innovation, Malaysia, Dato Wong Thean Recently, MYEG Group Managing Director, while in China, participants included Ms. Li Haihua, Deputy Director of the Institute of Industrial Internet & Internet of Things (IoT), CAICT.
MYEG will work with CAICT to establish Xinghuo BIF\’s international extension platform, Zetrix and build spheres and supernodes worldwide. Zetrix will also enable the gateway to public blockchains to integrate with Zetrix and Xinghuo BIF approved sites, making the network compatible with contract developers and smart businesses. The strong partnership between MYEG and CAICT will allow businesses around the world to have instant access to Xinghuo BIF, allowing them to use China\’s new digital and digital infrastructure.
Xinghuo BIF is China\’s national blockchain infrastructure, and aims to promote digital transformation in the country and increase the value of digital assets in the future by integrating blockchain, industrial internet and IoT, and building backbone and supernodes nationwide for security, security, and transmission of data and active integration.
In his keynote address, YB Dato \’Sri Dr. Adham Bin Baba welcomed the partnership between CAICT and MYEG in building high-quality supernodes outside of China, which will improve high-tech job creation technologies and expand cross-border trade. It is a major step for Malaysia to look at the future of digital, in line with the agenda of the Twelve (12th) Malaysian Program to make the digital economy of Malaysia digital. He also described Zetrix as a catalyst for the adoption of blockchain technology and innovation in all areas of business, which will allow and accelerate the adoption of 4IR technologies – Blockchain, Artificial Intelligence (AI), Internet of Things (IoT), advanced technologies and technologies as cloud computing and big data analysis.
Wang Zhiqin also said that China considers significant importance in blockchain technology and industrial development. CAICT officially launched Xinghuo BIF on August 30, 2020, taking the industrial internet as an application status, adopting a major digital identification tool as a development, and enhancing blockchain app development by creating a distributed, multi-stakeholder group, a reliable and interactive system.
The Zetrix core and supernodes will work fully with Xinghuo BIF infrastructure, providing competitive limits for domestic and regional companies trading with their Chinese counterparts and each other, integrating smoothly and seamlessly with the Chinese procurement network at Xinghuo BIF. It increases administrative efficiency and at the same time improves transparency and product adherence, which are key to providing an ever-increasing amount of consumer awareness.
CAICT is a scientific research center directly under China\’s Ministry of Industry and Information Technology (MIIT), while the Institute of Industrial Internet and Internet of Things CAICT oversees the development, implementation and implementation of Xinghuo BIF nationwide.
Countries around the world continue to advance technological advances. Through this partnership, MYEG aims to be at the forefront of blockchain technology with an unlimited future.
About MY E.G. Services Bhd (\”MYEG\”)
MYEG is the premier digital services company. Starting in 2000 as a leading e-government service provider, MYEG continues to play a leading role in driving technological change in Malaysia and elsewhere in the region, bringing a wide and comprehensive range of innovations including the online delivery of major government services for a wide range of foreign trade, automotive services. , health and financial services, among others. Committed to remain firmly in the forefront of digital digital transformation, MYEG has embraced the power of blockchain technology to enhance all aspects of life and actively pioneers its acceptance into its major markets. Outside of Malaysia, MYEG operates in other key regional markets such as the Philippines and Indonesia.