Cryptovalley Malaysia Teams With Malaysia Automotive Institute On Blockchain

Blockchain, News | November 27, 2018 By:

The Malaysia Automotive Institute (MAI) is teaming with Cryptovalley Malaysia (CVM) to apply blockchain technology in the automotive sector.

MAI, an agency under the Ministry of International Trade and Industry (MITI), serves as the focal point, coordination center and think tank for Malaysia’s automotive industry. It functions to enhance technology, human capital, supply chain, market outreach and aftersales capabilities of all automotive stakeholders and ecosystems.

CVM is an independent organization located in Cyberjaya, Malaysia. Its mission is to build Asia’s leading ecosystem for blockchain and cryptographic technologies in Malaysia, leveraging its strategic location in South East Asia, bridging both the Eastern and Western world. The organization’s main focus is in developing and executing a community-driven program targeted at establishing and growing its ecosystem.

Under the Memorandum of Agreement (MoA), the two parties will collaborate on four initiatives that will benefit the consumers, entrepreneur and environment. The initiatives include the creation of a blockchain platform for ensuring proper distribution of original spare parts, alternative blockchain-based e-hailing platform for taxi transformation, introduction of reputation economics 2.0 for after sales and service sector, and developing unique digital profiling for commercial vehicles that will allow enhanced carbon footprint calculations through the application of blockchain technology.

In addition, the MoA will serve as a stepping stone for the development of an expert pool in cryptography technology in Malaysia. They will establish specific programs for the automotive community to plan, implement and manage blockchain technology within their respective fields.

Madani Sahari, CEO of MAI, said that MAI and CVM will collaborate to develop the Cryptography Experts Development Program, allowing the utilization of enterprise blockchain architecture for the research and application of blockchain technology within the automotive, Internet of Things (IoT) and robotics sectors.

“These programs will enable real-time monitoring, auditability and scalability for the aforementioned sectors in the applications of connected vehicles, cybersecurity, smart manufacturing and autonomous driving,” Sahari said.