China-Malaysia Collaboration in AI and Blockchain for Trade Innovation

Zetrix, a prominent public blockchain platform developer in Malaysia, is set to collaborate with Universiti Malaya (UM), the country’s leading research university, and the China Academy of Information and Communications Technology (CAICT) to explore the applications of artificial intelligence (AI) in enhancing trade transactions.

The collaborative project, titled “Research on Key Issues of Transborder Blockchain Infrastructure and Pilot Applications,” has been chosen as part of an intergovernmental initiative aimed at promoting scientific, technological, and innovative partnerships between Malaysia and the People’s Republic of China.

China’s Ministry of Science and Technology initiated this program, which seeks to facilitate research collaborations between Chinese institutions and governments worldwide, with Malaysia being one of the 14 participating nations.

The joint research endeavor will primarily focus on harnessing the power of AI to streamline and optimize cross-border trade processes. The ultimate objective is to minimize inefficiencies and simplify the speed of such transactions, according to the participants involved. TS Wong, the managing director of MYEG Services, the parent company of Zetrix, expressed his thoughts on the partnership:

“Our collaboration with UM and CAICT remains crucial in our journey to utilize technologies of the Fourth Industrial Revolution for the transformation of cross-border trade and settlement.”

China and Malaysia have been intensifying their cooperation across various domains. In early April, Malaysian Prime Minister Anwar Ibrahim disclosed that Beijing was open to discussing Kuala Lumpur’s proposal for the establishment of an Asian Monetary Fund. Such an organization could potentially reduce reliance on the International Monetary Fund and the U.S. dollar, particularly as China promotes the international adoption of its fiat currency. Ibrahim further revealed that Malaysia’s central bank is actively working on enabling bilateral trade using the national currencies of both countries—the Malaysian ringgit and the Chinese yuan.

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