Zetrix, the Layer-1 blockchain platform by MY, E.G. Services Berhad (“MYEG”), today announced the successful live deployment of the Xinghuo International Super Node, along with the introduction of groundbreaking Xinghuo BIF naming services, namely Xinghuo Beta Name System (“BNS”) and Xinghuo Digital Identity Service, which are fully compliant with W3C International Standards.
Coming just a mere six months after MYEG and China’s national blockchain, Xinghuo Blockchain Infrastructure and Facility (“Xinghuo BIF”), had inked an agreement for MYEG to own and work the Xinghuo International Super Node, this marks yet another significant milestone in bringing real-world use cases on to the Zetrix blockchain.
The World Wide Web gang (“W3C”) is a global body that grows open standards to ensure the long-term growth of the Web. Complying with the latest W3C standards, the Xinghuo Digital Identity Service is a pioneering decentralised identity service that enables immutable verification of online identities. Today, such a service is proving to be particularly essential and indispensable in a world where there is an increasing need for online accounts to be verified in determining whether it belongs to a real human being or Artificial Intelligence (“A.I.”).
“We are delighted to reach this main milestone within a short period. Xinghuo International Super Nodes are important in providing connectivity for cross-border transactions with Xinghuo BIF, and many more services will be introduced to facilitate global trade,” explained Dr Jin Jian, Director of the Institute of Industrial Internet and Internet of Things Institute (IIIIoT), CAICT.
“In a brave new world of AI-powered Smart Contracts, decentralised identifiers (“DID”) like our Digital Identity Service will be widely used to identify the nature of online interactions as it is becoming increasingly difficult to distinguish engagements between human and A.I. agents. We are glad to be amongst the first to introduce W3C-compliant DID to ensure compatibility and interoperability with other platforms,” said TS Wong, Group Managing Director of MYEG.
Xinghuo BIF is a global blockchain infrastructure devoted to a trustworthy digital foundation for the world. It comprises at least seven supernodes covering main areas in China, and 29 backbone forks provide services to a broader span of industries and cities. Approximately 100 million blockchain identifiers are resolved daily on Xinghuo BIF, placing it the most actively used blockchain platform globally.
Through the Xinghuo International Super Node, operated by Zetrix, on-chain assets and transactions can now cross seamlessly across the Zetrix and Xinghuo blockchains, thus connecting governments, businesses, and individuals to a global blockchain-based ecosystem.
Meanwhile, the Xinghuo Digital Identity Service ensures the interoperability of digital identities issued via Zidentity (“ZID”), Zetrix’s digital identity platform, and their equivalent digital identities published on Xinghuo BIF. At the same time, BNS is a feature that allows users to register and allocate their preferred names to blockchain addresses that would otherwise usually be a string of alphanumeric characters.
The deployment announced today is the latest in a series of real-world use cases introduced by MYEG on Zetrix that aims to connect China with the rest of the world. In March, MYEG signed a partnership with East Logistic-Link Co., Ltd, a wholly-owned agency of the General Administration of the Tradition of the People’s Republic of China, to jointly provide a full suite of cross-border trade facilitation services that include certificates of origin and other international trade-related certificates on the Zetrix blockchain platform. The service will enable all data in these certificates to be available accurately in near real-time, increasing tariff computation and customs clearance efficiency.
About Zetrix
Zetrix is a layer-1 public blockchain that facilitates intelligent contracts and delivers privacy, security and scalability. Zetrix’s cryptographic infrastructure can be introduced to multiple industries to connect governments, businesses and their citizens to a global blockchain-based economy.
Developed by MY, E.G. Services Bhd, the cross-border and cross-chain integration with China Blockchain enables Zetrix to obey as a blockchain gateway that facilitates global trade by positioning critical building blocks for Web3 services such as Blockchain-based Identifiers (BID) and Verifiable Credentials (V.C.).
About MY, E.G. Services Bhd (“MYEG”)
MYEG is Malaysia’s premier digital services company. Having commenced working in 2000 as the flagship e-government services giver, MYEG continues to play a central role in driving technological change in the region, bringing a various and complete range of innovations spanning the online delivery of essential government services to a variety of commercial donations in the areas of immigration, automotive, healthcare and financial favour, among others.
Committed to staying firmly at the van of the region’s digital revolution, blockchain technology to enhance all quality of life is busily pioneering its adoption across its main markets. MYEG has worked in key regional markets such as the Philippines and Indonesia.
