Cross-border services include decentralized identifiers (DIDs) to facilitate global trade and international finance.
Shenzhen, China, November 17, 2022 /PRNewswire/ — China National blockchain, Xinghuo Blockchain Infrastructure and Facility (XInghuo BIF) has signed an agreement with MY EG Services Bhd (MyEG) that MyEG will own and operate the Xinghuo International Supernode, which will provide connectivity to the rest of the world at the China Internet Conference 2022 . on China Ministry of Industry and Information Technology (MIIT) and Shenzhen Municipal People’s Government. The agreement also involves cross-border adoption and use of the latest Decentralized Identifier (DID) standard to progressively build Web3 from China and not only.
Xinghuo BIF is a global blockchain infrastructure dedicated to a trusted digital foundation for the entire world. So far, Xinghuo BIF’s 7 supernodes cover the main areas in China and 29 backbone nodes provide services to a wider range of industries and cities. Xiamen and Liuzhou Supernodes, Jiaozhou (Shandong) and Hengqin (Guangzhou) backbone nodes enhance cross-border trade and provide international services abroad. International enterprises, including SAP and Siemens, are partnering with Xinghuo to promote global innovative blockchain applications. Currently, Xinghuo BIF allows about 100 million blockchain IDs daily, making it the most actively used blockchain platform in the world.
The international supernode will connect to MyEG’s public Tier 1 blockchain, Zetrix, which is fully interoperable with Xinghuo. This allows the network assets and transactions of the Zetrix network to cross seamlessly with Xinghuo, connecting governments, businesses and their people to the blockchain-based global economy.
Commenting on the cooperation Xiaohui YuThe president of CAICT said, “We should cooperate more to build a network of nodes, seize the opportunities presented by the next generation Internet, and empower industries with blockchain and other technologies, thus providing a reliable infrastructure and promoting innovative development.”
This agreement marks a major achievement in Xinghuo BIF’s global expansion since the signing of the Memorandum of Understanding on December 12th.th October 2021 An international supernode will connect to MyEG and develop blockchain infrastructure applications that will increase infrastructure connectivity across countries and enhance cross-chain connectivity. With its technology and government service capabilities, Xinghuo BIF will provide blockchain services Malaysia and other ASEAN countries, as well as assistance with cross-border tracking of goods, identity verification and supply chain financing.
Wong Thean SunManaging Director of the MyEG Group and co-founder of Zetrix, said: “Xinghuo BIF is already the most advanced and widely used network for industrial and commercial applications. Now, with the launch of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web 3 evolution that will help build international communities and promote global trade and finance.”
Xinghuo BIF and public level 1 blockchain MyEG, Zetrix, previously announced the introduction of cross-chain blockchain identifiers (BIDs), verifiable credentials (VCs), and the signing of an on-chain agreement. BID and VC are critical building blocks of a more interconnected Web 3 as they are the foundational tools that decentralized applications can use to provide many new services.
The agreement between the parties has been duly signed in the Xinghuo-Zetrix blockchain ecosystem.
About MY EG Services Bhd (“MyEG”)
MyEG is Malaysia leading digital services company. Started in 2000 as a flagship e-government service provider, MyEG continues to lead the way in driving technological change in the region, bringing a diverse and full range of innovations spanning the online delivery of essential government services to a variety of business offerings in the fields of immigration, automotive, healthcare and financial services, among others. Aiming to stay at the forefront of the digital revolution in the region, MyEG is harnessing the power of blockchain technology to improve every aspect of life and actively promoting its adoption in its core markets.
. MyEG operates in key regional markets such as Philippines as well as Indonesia.
Zetrix is a public layer 1 blockchain that simplifies smart contracts and provides privacy, security and scalability. Zetrix Cryptographic Infrastructure can be deployed across industries to connect governments, businesses and their citizens to the blockchain-based global economy. Cross-border and cross-chain integration with Xinghuo Blockchain Infrastructure and Facility (BIF), owned by My EG Services Bhd, allows Zetrix to act as a blockchain gateway that facilitates global trade by deploying critical building blocks for Web3 services such as blockchain-based ones. Identifiers (BID) and verified credentials (VC). To learn more about Zetrix, visit the Website | Twitter |
About Xinghuo BIF
Xinghuo BIF is a national blockchain infrastructure supported by the Ministry of Industry and Information Technology and led by the China Academy of Information and Communication Technology (CAICT). It provides services mainly for the industrial Internet, makes a breakthrough in the field of Internet identification, expands the application of blockchain, and stimulates the economy. With open construction strategies and governance model, Xinghuo BIF positions itself as a national blockchain infrastructure that provides services to the whole world, and its construction was started in Aug 2020. On the August 3, 2021CAICT has released BIF-Core, which marks the start of its core network and global service.
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