MyEG and Mimos to develop national public blockchain


My EG Services Bhd and Mimos Technology Solutions Sdn Bhd (MTSSB) have agreed to collaborate on developing and operating the national layer 1 public blockchain using Zetrix and Mimos blockchain technology as the components of the Malaysia Blockchain Infrastructure (MBI).

The MBI is a key element of the National Blockchain Roadmap launched by the Ministry of Science, Technology and Innovation (Mosti) in August.

In an exchange filing yesterday, MyEG said the MOU serves as a milestone in bringing next generation Web 3 applications to both government and commercial sectors in the country.

“As a trading nation, Malaysia, and Malaysian companies, can greatly benefit from use of blockchain applications and services,” said MTSSB CEO Faisal Ahmad in a statement.

MYEG group MD Wong Thean Soon said the blockchain enablement of trade will unlock greater opportunities and use cases to establish this as a true technological revolution, departing from speculative tokenomics.

“The next generation of the economy is digital and the distributed ledger will be the ubiquitous single source of truth for all commerce,” he said.

A layer-1 network is another name for a base blockchain. Some examples of layer-1 protocols are BNB Smart Chain (BNB), Ethereum (ETH), Bitcoin (BTC), and Solana.

Zetrix is a Layer-1 blockchain that also serves as the backbone infrastructure and supernodes outside of China that connect to China’s national network, Xinghuo Blockchain Infrastructure and Facility.