MBI ushers new era for Malaysia's Blockchain
MIMOS Berhad, in a statement, said this milestone marks a pivotal moment in the nation's technological advancement, as MBI emerges as a strategic technological innovation and a core component of Malaysia's National Blockchain Roadmap, aligned with the Malaysian MADANI vision.
Developed to be a catalyst for creativity, MBI fosters an environment where developers and innovators can explore and build cutting-edge blockchain applications that drive value and transformation across industries.
'The establishment of the MBI stands as a pivotal catalyst for the nation's digital advancement, purposefully developed to foster sustainable digital integration and support the creation of a cohesive, future-ready national digital infrastructure.
'This initiative is driven by MIMOS in strategic collaboration with its principal partner and key contributor, MyEG, underscoring a shared commitment to accelerating Malaysia's digital transformation and innovation agenda,' it said.
According to MIMOS Berhad, the MBI also plays a vital role in streamlining a wide range of digital assets, including MyDigitalID verifiable credentials, non-fungible tokens (NFTs), and decentralised finance (DeFi) applications, increasing accessibility to blockchain technology by simplifying the user experience and enabling broader participation for nontechnical users.
It said early adopter industry partners, such as Masverse, Cokeeps, iTrace, Heitech Padu, and others, are leveraging MBI to deploy solutions in supply chain traceability, digital identity, asset custody, and tokenisation across public and private sectors.
'Solutions like MyDigitalID will benefit from MBI's integrated capabilities, ensuring verifiability, accessibility, and interoperability to support use cases ranging from simple on-site registrations to complex cross-border and commercial verifications.
'This initiative aims to foster innovation and interconnectivity across platforms, enhance decentralised transaction security, promote an inclusive digital economy, and ensure greater security and transparency in digital transactions, making blockchain technology more accessible and catalysing innovation across all sectors, it said.
'Guided by the MADANI core values of Sustainability, Prosperity, Innovation, Respect, Trust, and Compassion, MBI is redefining the way we interact with blockchain technology. By offering unified access across platforms, MBI simplifies cross-chain transactions, eliminating the complexities of navigating multiple systems,' it said.
Meanwhile, MIMOS acting president and group chief executive officer, Dr Saat Shukri Embong, said MBI will drive competitiveness, positioning Malaysia as a regional leader in blockchain adoption and development, potentially attracting investment and highly-skilled talent.
'More importantly, it embodies digital inclusivity, making blockchain technology accessible to all Malaysians, regardless of their technical expertise. This streamlined approach enhances liquidity by aggregating resources from various platforms, enabling faster, more efficient, and cost-effective trading.
'As a catalyst for Malaysia's digital transformation, MBI is driving technological progress and contributing to the greater well-being of Malaysians and the nation.
'This platform is a testament to MIMOS', MOSTI's, and the MADANI Government's commitment to ensuring that the benefits of this transformative technology are shared equitably, driving sustainable economic growth and societal progress,' he was quoted as saying in the statement.
The statement said that as the nation's applied research and development centre, MIMOS is pivotal in driving blockchain adoption, and the establishment of the MBI aims to address the challenges of a fragmented ecosystem by unifying diverse platforms.
It uses Zetrix as its core chain, working in tandem with other public chains like Ethereum, Solana, and Private Blockchains to create a single interface.
All stakeholders, industry, researchers, and policymakers must maintain a strong collaborative spirit to bring this initiative to fruition. A robust public and private partnership is essential for Malaysia to establish an inclusive, sustainable, and resilient blockchain ecosystem regionally, the statement read.
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