Latest news with #ChangLihKang
The Sun
2 days ago
- Business
- The Sun
Malaysia Blockchain Infrastructure set to catalyse systemic digital transformation
KUALA LUMPUR: Malaysia is laying the groundwork to establish itself as a regional leader in digital trust architecture with the launch of Malaysia Blockchain Infrastructure (MBI). This national initiative establishes the foundation for a future where public services are tamper-proof, halal products are traceable from farm to fork and businesses operate with full transparency and cost efficiency on secure digital platforms. Minister of Science, Technology, and Innovation Chang Lih Kang said the MBI initiative signals Malaysia's commitment to anchoring its future economy on interoperability, data integrity and innovation, thereby creating a trusted, technology-driven ecosystem across the public and private sectors. He emphasised that MBI is not merely a technological milestone but a catalyst for systemic digital transformation. 'Today's event is not just the launch of a new technology, but the dawn of a new era in the nation's digital economic development,' Chang said at the official launch of MBI during the opening of Malaysia Blockchain Week 2025 here today. 'Let us move forward, not as isolated actors, but as co-creators of a brighter, bolder digital Malaysia.' He said the initiative is designed to accelerate blockchain adoption by building a trusted and transparent infrastructure supported jointly by government and industry. 'With the launch of MBI, we hope to fast-track blockchain adoption in Malaysia, enabling broader usage built on trust and transparency,' he added. MBI, developed by Mimos Bhd in collaboration with Zetrix and Masverse, addresses persistent challenges in blockchain deployment, including fragmentation, high transaction costs and a lack of cross-platform compatibility. 'This trusted and inclusive national digital backbone will empower government, businesses and the public, strengthening Malaysia's digital economy for the future,' Chang said. He explained that MBI functions similarly to a financial clearinghouse, such as Mastercard or Visa, by enabling seamless interoperability across different blockchain systems. 'It acts like a clearinghouse, allowing smooth transitions between blockchain technologies. It simplifies transactions for everyone,' he noted. MBI is grounded in the National Blockchain Roadmap 2021–2025, which outlines Malaysia's ambitions to lead the region in blockchain adoption across various sectors, including public administration, finance, halal certification and trade. 'We see blockchain enhancing transparency in government, reducing costs in finance, and strengthening halal traceability and supply chain logistics,' said Chang. 'This is about embedding trust and efficiency at every level.' To date, the Ministry of Science, Technology and Innovation (Mosti) has achieved 60% of the objectives outlined in the roadmap, with additional milestones expected by the end of the year. 'We've reached 60%, and we aim to go even further by year-end,' Chang affirmed. The minister outlined a vision of a fully digital public infrastructure powered by blockchain, encompassing secure procurement, automated halal certification and streamlined financial services. 'Halal products verified from farm to fork, leak-proof procurement – all powered by MBI. This is not a distant vision; it is well within our grasp,' he said. While large enterprises are expected to benefit, Chang highlighted that startups, SMEs and underserved communities will also gain from reduced digital entry costs and greater access to secure data ecosystems. He said MBI would serve as a trusted platform for early-stage companies and blockchain startups to engage with verified partners. 'This platform enables startups to find trusted blockchain partners – whether service providers or platforms. It also serves as a form of government endorsement.' Chang underscored the importance of collaboration among government, industry and academia in unlocking MBI's full potential. 'Innovation isn't confined to institutions. It flows from startups, entrepreneurs, researchers, and public services. This embodies the Malaysia Malaysia vision, where innovation is guided by compassion, progress is rooted in trust and technology serves all levels of society,' he said. Chang disclosed that a new national roadmap is in development, focusing on explainable artificial intelligence (XAI) and blockchain through to 2030. The initiative will primarily involve local experts, with opportunities for international collaboration. 'We're working with the Ministry of Digital and relying largely on local experts. However, we remain open to input from foreign specialists,' he said. As other Asean countries move towards integrating blockchain in trade and governance, Malaysia aims to leap forward with a cohesive, government-backed framework, rather than relying on scattered pilot programmes. 'With MBI, Malaysia is positioning itself at the forefront of digital trust infrastructure – one that supports not only innovation but also real-world impact across industries and communities,' said Chang. The two-day Malaysia Blockchain Week 2025, organised by Lydian Labs and supported by ARC, features expert panels, technology showcases, and cross-border collaborations designed to scale blockchain innovation across Southeast Asia and beyond.
Barnama
2 days ago
- Business
- Barnama
பி.டி.ஆர்.எம் ஹெலிகாப்டர் விபத்து; விசாரணை அமலாக்கத் தரப்பிடம் ஒப்படைப்பு
Science, Technology and Innovation Minister Chang Lih Kang (third, right) visits an exhibition following the launch of the Malaysia Blockchain Infrastructure (MBI) during Malaysia Blockchain Week 2025, held at the World Trade Centre Kuala Lumpur (WTCKL) today.
The Sun
2 days ago
- Business
- The Sun
Malaysia advances blockchain adoption with new infrastructure initiative
KUALA LUMPUR: The Ministry of Science, Technology and Innovation (MOSTI) is working closely with the Ministry of Digital to accelerate blockchain adoption nationwide, targeting sectors like public administration, finance, and the halal industry. Minister Chang Lih Kang highlighted the technology's role in improving transparency, efficiency, and 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 during the launch of the Malaysia Blockchain Infrastructure (MBI) at Malaysia Blockchain Week 2025. Chang explained that blockchain's potential has been hindered by fragmentation, high costs, and interoperability issues. The MBI aims to address these challenges by enabling seamless connectivity between blockchain networks, lowering costs, and improving trust and security. '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 added. The initiative aligns with the National Blockchain Roadmap 2021–2025, which has achieved 60 per cent of its goals so far. Malaysia Blockchain Week serves as a platform for collaboration, reinforcing the country's ambition to become a regional blockchain leader. - Bernama
Barnama
2 days ago
- Barnama
MOSTI Leaves Pdrm Helicopter Crash Probe To Authorities
KUALA LUMPUR, July 21 (Bernama) -- The Ministry of Science, Technology and Innovation (MOSTI) has left the investigation into the Royal Malaysia Police (PDRM) helicopter crash in Sungai Pulai, Gelang Patah, on July 10 to the relevant authorities. Minister Chang Lih Kang said that although the incident occurred during the Multilateral Nuclear Security Detection Exercise (MITSATOM) 2025, the ministry is not involved in the probe. 'It happened during a MOSTI programme rehearsal, but we are not part of the investigation. It's not under our purview,' he told reporters at the launch of the Malaysia Blockchain Infrastructure (MBI) in conjunction with MyBlockchain.
Barnama
2 days ago
- Business
- Barnama
MOSTI, Digital Ministry Committed To Advancing Blockchain Adoption Nationwide
KUALA LUMPUR, July 21 (Bernama) -- The Ministry of Science, Technology and Innovation (MOSTI) remains committed to formulating and implementing policies and initiatives in collaboration with the Ministry of Digital to drive broader adoption of blockchain technology across key national sectors. 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.
