LuxTag Teams With Dagang Net To Offer Blockchain-Based eServices In Malaysia

Blockchain, News | March 1, 2019 By:

Blockchain startup LuxTag has teamed with Dagang Net, a wholly-owned subsidiary of Malaysia-based Dagang NeXchange Berhad (DNeX), to provide eServices based on blockchain technology.

LuxTag is a digital certificate solution provider utilizing the NEM blockchain technology. The startup provides digitized certificates of authenticity for any products or assets on a blockchain that will be updatable, can have messages attached, and their conjoint ownership can be flexibly transferred.

Dagang Net is an e-commerce service provider with experience in managing port, logistics and customs-related e-transactions. It owns and operates a national e-commerce trade and business exchange that handles some 275 million electronic trade transactions and $441 million customs duty payment annually from 5000 corporate customers.

The agreement, which was signed at a ceremony held at the World Blockchain Summit in Kuala Lumpur, will see both companies jointly develop eServices leveraging on blockchain and digital ledger technology (DLT) for managing digital assets that contain such content as text, images, and multimedia.

“We are pleased to be working together with LuxTag to explore opportunities in the increasingly growing market for services backed by blockchain,” sadi Datuk Samsul Husin, Executive Deputy Chairman of DNeX, and Executive Chairman of Dagang Net. “The blockchain revolution in managing digital assets is expected to expand to such sectors as education, finance, regulatory, healthcare, and government.”

“At LuxTag, we see ourselves as creators, inventors, and innovators,” said Rene Bernard, CEO of LuxTag. “Dagang Net, on the other hand, is very good at servicing businesses with productized solutions. This is a perfect fit for a strategic cooperation.”