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The Malaysia Automotive Institute (MAI) has signed a Memorandum of Agreement (MoA) with Cryptovalley Malaysia (CVM) to initiate blockchain applications in the automotive sector.
The collaboration will prompt four immediate blockchain initiatives that will benefit the consumers, entrepreneur and environment. These include:
- Creating digital identities to ensure genuine spare parts are properly circulated within the automotive ecosystem.
- An alternative blockchain-based e-hailing platform for the ride-sharing market which will help enhance security, transparency and also provide immutable evidence during dispute resolutions.
- An ecosystem in which the after sales and service sectors are based on the decentralized online ratings by end users. These ratings enhance the customer experience through better quality comparisons, through a user-driven database structure applicable to many areas within the after sales and service sectors.
- Creating unique digital profiling for commercial vehicles, allowing enhanced carbon footprint calculations through the application of blockchain technology.
In addition to these initiatives, the MoA will serve as the basis for the development of an expert pool in cryptography technology in Malaysia, through the establishment of specific programs for the automotive community to plan, implement and manage blockchain technology within their respective fields.
“MAI and CVM will collaborate to develop the Cryptography Experts Development Programme, allowing the utilisation of enterprise blockchain architecture for the research and application of blockchain technology within the automotive, IoT and Robotics sectors”, said Dato’ Madani Sahari, MAI CEO, adding that these programmes will enable real-time monitoring, auditability and scalability for the aforementioned sectors in the applications of connected vehicles, cybersecurity, smart manufacturing and autonomous driving.
