Malaysia’s public blockchain developer, Zetrix, and Universiti Malaya (UM) are collaborating with China Academy of Information and Communications Technology (CAICT) to advance Artificial Intelligence (AI) technology in transborder blockchain applications. The project, titled “Research on Key Issues of Transborder Blockchain Infrastructure and Pilot Applications,” is part of the intergovernmental research collaboration between Malaysia and China in the field of Science, Technology, and Innovation. This collaboration aims to foster research partnerships between the Chinese government and overseas governments, with Malaysia being one of the 14 participating countries.
The research initiative in Malaysia focuses on leveraging AI to streamline and optimize cross-border trade processes, with the goal of reducing inefficiencies and improving the ease and speed of transactions. MYEG Services Bhd (MYEG), the group managing director of which expressed enthusiasm for the expanded research focus, stated that AI and Web 3 are two complementary technologies that will disrupt digital services. The partnership between UM, CAICT, and MYEG continues to be instrumental in leveraging 4th Industrial Revolution technologies to transform cross-border trade and settlement.
Dr. Saaidal Razalli Azzuhri, the lead researcher at UM, highlighted the potential benefits of incorporating AI into their research. He believes that the synergistic combination of AI and blockchain technology will lead to breakthroughs in enhancing the efficiency and security of cross-border trade.
This collaboration comes as Zetrix, UM, and CAICT work towards international cooperation in AI research. Zetrix, a layer-1 public blockchain, facilitates smart contracts and provides privacy, security, and scalability. Its cryptographic infrastructure can be applied to various industries to connect governments, businesses, and citizens to a global blockchain-based economy.
MYEG, Malaysia’s premier digital services company, has been actively pioneering the adoption of blockchain technology across its markets, with operations in countries like the Philippines and Indonesia.
Overall, this collaboration between Zetrix, UM, and CAICT represents a significant stride towards international cooperation in AI research and acknowledges the importance of knowledge-sharing in realizing the full potential of AI in advancing cross-border trade.