Copy link
Increase text size
Decrease text size
Link copied

Malaysia Automotive Institute seeks to bring blockchain to automotive sector

Tue, 27 Nov 2018, 10:44 am UTC

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.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $9,618.38 (-5.09%)
  • Ethereum (ETH) $257.43 (-8.01%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $375.80 (-9.60%)
  • Bitcoin SV (BSV) $295.65 (-4.28%)
  • Bitcoin (BTC) $9,618.38 (-5.09%)
Feb 20, 2020 (Thursday)
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
12:17
US Presidential candidate Michael Bloomberg proposes crypto regulatory framework
11:39
IRS invites crypto firms to discuss cryptocurrencies and related issues
11:38
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:37
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
10:39
Banking giant Citi backs blockchain trade finance network Contour
09:47
Bank of Korea to develop blockchain-based bond management system
07:22
Northern Data, Canaan partner to cooperate on AI, blockchain and datacenter operations
06:41
Crypto Technicals: ETH/USD closes above 5-DMA, set to resume bullish momentum
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft