Malaysia: MYEG and Beitou IT Innovation Launch Digital Identity Verification on Zetrix Blockchain

Malaysia’s e-government service provider, MY E.G. Services Berhad (MYEG), is joining forces with China’s state-owned Guangxi Beitou IT Innovation Technology Investment Group Co., Ltd. (Beitou IT Innovation) to pioneer an international digital identity credentials service using the Zetrix blockchain.

Unveiled at the recent China-ASEAN Expo in Nanning, the partnership showcases a decentralized application, a leap in digital identity verification, that allows Chinese nationals to obtain a digitalized version of their driving licenses. These digital licenses are stored securely on the Zetrix blockchain as Verified Credentials, enabling users to validate their identities globally.

Shuiping Lai, Chairman of Beitou IT Innovation, emphasized the collaboration’s significance. “By leveraging blockchain’s immutability and data security, we are enhancing cross-border communications between China and ASEAN, ensuring legal compliance,” he stated.

TS Wong, Zetrix Founder and MYEG Group Managing Director, voiced his enthusiasm about using blockchain for ensuring the authenticity of digital documents. He believes such technologies will usher in a billion users to Web3.

Digitalizing driving licenses on blockchain not only ensures immediate verification but also offers a level of trustworthiness superior to physical documents, especially pivotal for KYC processes. With fraud-proof attributes inherent in blockchain, these digital credentials can be verified in real-time, significantly reducing the risks of falsification.

The alliance is poised to expand beyond driving licenses, aiming to digitalize various documents that currently exist only in tangible formats. It emphasizes both accuracy and authenticity, streamlining processes without compromising safety or security.

Zetrix, developed by MYEG, is a foundational player in this initiative, facilitating cross-border issuance and verification of documents. This Layer-1 blockchain also hosts the international supernode of China’s Xinghuo Blockchain Infrastructure and Facility.

Highlighting Beitou IT Innovation is a subsidiary of Guangxi Beibu Gulf Investment Group Co., Ltd. It also manages the operations of the China-ASEAN Information Port Beitou Digital Technology Park.

Earlier this year, MYEG inked a crucial deal with East Logistic-Link Co., Ltd., a subsidiary of China’s General Administration of Customs, to offer an array of cross-border trade facilitation services, all under the Zetrix umbrella, named ZTrade. This platform has gained traction in Malaysia and the Philippines, with plans for further ASEAN expansion.

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