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China and Malaysia collaborate to integrate AI and blockchain technology to foster cross-border trade

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TL;DR Breakdown

  • Malaysia and China are collaborating on a project to use AI and blockchain to improve cross-border trade.
  • The collaboration includes Zetrix, Universiti Malaya, and China Academy of Information and Communications Technology under China’s G2G program.
  • The project aims to boost trade efficiency and security; Zetrix recently launched a service that verifies online interactions between humans and AI agents.

Description

Malaysia and China have set the stage for a new era of technological advancement. The two nations are combining forces to pioneer the integration of Artificial Intelligence (AI) and blockchain technology to enhance cross-border trade processes. The alliance, which is part of an ongoing intergovernmental research initiative, symbolizes a significant stride in international cooperation in … Read more

Malaysia and China have set the stage for a new era of technological advancement. The two nations are combining forces to pioneer the integration of Artificial Intelligence (AI) and blockchain technology to enhance cross-border trade processes. The alliance, which is part of an ongoing intergovernmental research initiative, symbolizes a significant stride in international cooperation in AI research.

A tripartite fusion: Zetrix, Universiti Malaya, and CAICT

Malaysian blockchain platform developer Zetrix teamed up with Universiti Malaya (UM) and the China Academy of Information and Communications Technology (CAICT) to embark on a research initiative titled “Research on Key Issues of Transborder Blockchain Infrastructure and Pilot Applications.” This project is part of a wider government-to-government (G2G) program initiated by China’s Ministry of Science and Technology (MOST), with Malaysia being one of the 14 nations participating.

The G2G program seeks to foster research partnerships between the Chinese government and foreign governments, aiming to leverage AI technology to streamline and optimize cross-border trade processes. By harnessing the power of AI, this collaboration aims to minimize inefficiencies, thereby enhancing the overall efficiency and speed of cross-border transactions​

Unleashing the power of AI and blockchain

TS Wong, Group Managing Director of MYEG Services Bhd, the parent company of Zetrix, expressed his enthusiasm about the expanded research focus. He emphasized the transformative potential of AI and Web 3 technologies in revolutionizing digital services.

“Web3 provides the architecture that supports the deployment of AI functionalities on authenticated digital assets. Our partnership with UM and CAICT continues to play a crucial role in leveraging Fourth Industrial Revolution (4IR) technologies to revolutionize cross-border trade and settlement.”

TS Wong, Group Managing Director oof MYEG Services Bhd

Dr. Saaidal Razalli Azzuhri, the lead researcher at UM, also highlighted the substantial benefits of incorporating AI into their ongoing research work. He underscored the synergistic combination of AI and blockchain technology as a catalyst for breakthroughs that significantly enhance the efficiency and security of cross-border trade​.

Recent developments have shown the timely inclusion of AI in the tripartite collaboration, aligning with Zetrix’s pioneering work at the intersection of blockchain and AI.

A notable achievement is Zetrix’s successful deployment of its Digital Identity Service, a W3C-compliant decentralized identity service that enables the verification and differentiation of online engagements between real humans and AI agents​1​.

By joining forces, Zetrix, UM, and CAICT are paving the way toward international cooperation in AI research, highlighting the importance of global collaboration and knowledge-sharing. As these technological advancements unfold, the implications for cross-border trade are profound, heralding a more connected, efficient, and prosperous world economy.

China and Malaysia have been strengthening their collaboration across multiple domains. Recently, the Prime Minister of Malaysia, Anwar Ibrahim, shared that Beijing is open to discussing Kuala Lumpur’s suggestion for creating an Asian Monetary Fund.

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