MOSTI, Digital Ministry Committed To Advancing Blockchain Adoption Nationwide
Its minister, Chang Lih Kang, said the collaboration includes sectors such as public administration, finance, halal industry, and trade to enhance transparency, efficiency, and data security.
'This includes government administration to improve transparency and efficiency in public service systems; finance and banking to reduce transaction costs and enhance access to digital financial services; the halal industry to strengthen tracking and certification systems that are more efficient and reliable; and trade and supply chains to enhance efficiency and product traceability from producers to consumers,' he said.
Chang was delivering his keynote speech at the launch of the Malaysia Blockchain Infrastructure (MBI) during Malaysia Blockchain Week 2025 here today.
He said blockchain technology is becoming increasingly relevant in sectors like finance, supply chains, halal traceability, and public services. However, challenges such as fragmentation, high costs, and lack of interoperability have limited its full potential.
'The MBI is our strategic response, designed to enable interoperability across blockchain networks, reduce transaction costs and duplication, and enhance trust, transparency, and security. It will also provide open access to more startups, businesses, and communities,' he said.
According to Chang, the MBI positions Malaysia at the forefront of digital trust infrastructure, supporting not only innovation but also creating real-world impact across industries and communities.
He said the implementation of MBI is aligned with the National Blockchain Roadmap 2021–2025 outlined by MOSTI, which has achieved 60 per cent of its objectives to date and aims to position Malaysia as a regional digital hub for blockchain technology.
Chang also noted that Malaysia Blockchain Week, the country's flagship blockchain event, is more than just a gathering of industry players, institutions, and government stakeholders — it is a bold statement of intent to lead in digital innovation and embrace the future economy.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
a minute ago
- The Sun
SST exemptions for residential projects and public facilities in Malaysia
KUALA LUMPUR: The government has extended Sales and Services Tax (SST) exemptions to residential projects and public facilities, including houses of worship, recreational parks, and public toilets. Deputy Works Minister Datuk Seri Ahmad Maslan announced the move as part of efforts to ease financial burdens on developers and sustain infrastructure development. Essential construction materials such as cement, gravel, and sand remain zero-rated under the sales tax. Ahmad clarified that while main contractors are subject to SST, subcontractors earning below RM1.5 million annually are exempt. The exemptions aim to provide relief to businesses adjusting to the tax system. 'Companies and contractors with non-reviewable contracts will receive a one-year exemption, subject to conditions,' Ahmad said during a Dewan Rakyat session. When asked about raising the SST registration threshold from RM1.5 million to RM3 million for construction-related services, Ahmad confirmed no discussions had taken place. The current threshold remains in place to maintain tax compliance while supporting smaller industry players. - Bernama
Barnama
4 minutes ago
- Barnama
CGTN Highlights President Xi's Call For Stronger China-EU Ties At Landmark 25th Summit
BUSINESS KUALA LUMPUR, July 28 (Bernama) -- Chinese President Xi Jinping met with European Union (EU) leaders at the 25th China-EU Summit in Beijing, marking 50 years of diplomatic relations and calling for deeper cooperation in trade, investment, and global governance. As reported by China Global Television Network Corporation (CGTN), the summit emphasised China's push for multilateralism, economic openness, and mutual respect as the guiding principles for future China-EU relations. During a meeting at the Great Hall of the People in Beijing recently, President Xi told European Council President Antonio Costa and European Commission President Ursula von der Leyen that China-EU relations have entered a critical historical juncture. Xi said there are no fundamental conflicts of interest or geopolitical contradictions between the two sides, stressing that cooperation remains the dominant feature of bilateral ties, according to CGTN in a statement. He proposed that both parties uphold mutual respect, pursue openness and cooperation while managing differences, and jointly safeguard multilateralism and the international rules-based order. Xi said the China-EU economic relationship is naturally complementary and mutually beneficial and highlighted the importance of deepening partnerships in green and digital sectors. According to China's customs data, trade between China and the EU reached US$785.8 billion in 2024, a 300-fold increase compared to 1975, when relations were first established. (US$1=RM4.21) He also urged the EU to maintain an open market and refrain from restrictive trade measures to ensure a favourable business environment for Chinese enterprises in Europe, citing Chinese battery giant CALB's US$2.2 billion plant in Portugal—expected to create 1,800 jobs—as a model of productive bilateral investment. CGTN highlighted that both sides agreed to upgrade their export control dialogue mechanism, enhance communication, and ensure the stability of industrial and supply chains at the summit.
Barnama
an hour ago
- Barnama
SST Exemption For Residential Projects, Public Facilities
KUALA LUMPUR, July 28 (Bernama) -- The government continues to support the construction sector by granting Sales and Services Tax (SST) exemptions for selected projects, particularly those involving residential buildings and public facilities, including houses of worship, recreational parks and public toilets, said Deputy Works Minister Datuk Seri Ahmad Maslan. He said essential building materials such as cement, aggregate (gravel) and sand remain zero-rated under the sales tax to help reduce the burden on developers and ensure the continuity of infrastructure projects. 'Selected business-to-business (B2B) activities are subject to certain conditions. For instance, main contractors are subject to SST, but not to subcontractors earning below the threshold of RM1.5 million,' he said during an oral question and answer session at the Dewan Rakyat today. Ahmad was responding to a question from Yusuf Abd Wahab (GPS-Tanjong Manis) regarding the categories of construction projects exempted from SST, as well as the ministry's steps to ensure that existing projects are not affected by its implementation. In line with the government's commitment to implement SST fairly and effectively, he said, companies and contractors that carry out contracts that do not allow for review will be granted a one-year exemption, subject to terms and conditions. 'This incentive is part of the government's measures to ensure the construction industry has sufficient time to adjust the system, streamline the registration process and obtain accurate clarification on the implementation of SST," he said. Meanwhile, Ahmad said that there has been no discussion to increase the threshold value for registration of taxable services for the construction sector from RM1.5 million to RM3 million. He was responding to a supplementary question from Abdul Latiff Abdul Rahman (PN-Kuala Krai) regarding the industry's proposal for the threshold value for registration of SST taxable services to be increased from RM1.5 million to RM3 million, particularly for construction and rental and leasing categories -- BERNAMA
