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Malaysia is seeking to join a select group of countries,\u00a0including China<\/a>, in developing a national blockchain infrastructure. The Southeast Asian country has partnered with two private companies to build the infrastructure, which will be open to all government levels and the commercial sector.<\/p>\n MY E.G. Services Berhad (MYEG)\u00a0signed<\/a> a memorandum of understanding (MOU) with MIMOS Technology Solutions Sdn Bhd to jointly develop the national Layer 1 public blockchain infrastructure. The two will build on Zetrix, a blockchain network developed by MYEG and the MIMOS blockchain.<\/p>\n Known as the Malaysia Blockchain Infrastructure (MBI), the new network will bring \u201cnext generation\u00a0Web 3<\/a>\u00a0applications to both government and commercial sectors in the country that will propel Malaysia as a leading technology innovator nation, and deliver the objectives as set out in Malaysia\u2019s National Blockchain Roadmap,\u201d MYEG stated.<\/p>\n This roadmap was\u00a0launched<\/a>\u00a0in August by Malaysia\u2019s Ministry of Science, Technology, and Innovation. Alongside four other roadmaps targeting sectors like\u00a0artificial intelligence<\/a>\u00a0(AI) and robotics, it\u2019s designed to develop local companies\u2019 tech capabilities and reduce dependence on foreign technology.<\/p>\n \u201cWe are honored to be able to contribute to Malaysia\u2019s 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,\u201d said MYEG\u2019s Group Managing Director Wong Thean Soon on the latest partnership.<\/p>\n \u201cThe next generation of the economy is digital, and the distributed ledger will be the ubiquitous single source of truth for all commerce,\u201d added Wong.<\/p>\n Malaysia has continued to grow as a digital asset and\u00a0blockchain<\/a> hub. However, it still ranks behind its Southeast Asian neighbors, which have seen rapid adoption, and the government will be hoping the new infrastructure bridges the gap.<\/p>\n Malaysia is listed behind top-ranked Vietnam, the Philippines, Thailand, and Indonesia in digital asset adoption according to this year\u2019s Chainalysis\u00a0Global Crypto Adoption Index<\/a>.<\/p>\n However, despite lagging behind its peers, Malaysia is in a prime position to become the region\u2019s blockchain hub, Henry Chong believes.<\/p>\n