MIMOS Berhad, Malaysia‘s national applied research and development center under the purview of the Ministry of International Trade and Industry, has announced plans to expand its partnership with Oracle to explore government applications for blockchain technology.
According to SME Magazine, the aim is to streamline various processes and improve the ease of doing business in Malaysia.
MIMOS had previously experimented with Open Source Hyperledger and completed a proof of concept (PoC) involving palm oil traceability. The center then broadened its experimentation by approaching Oracle for use of the cloud-based Oracle Blockchain Platform.
Among the features considered key to Oracle Blockchain Platform getting selected was its plug and play integration with existing business systems. This effectively simplifies and shortens setup processes while making ongoing deployment easier.
Another important factor was the platform’s enterprise-grade architecture, which ensures the enhanced security, scalability and performance characteristics necessary for production use.
Being delivered as an open platform also allows MIMOS to more easily link with other systems or Oracle applications if it becomes necessary to gain deeper analytics capabilities or simplifying reporting.
In addition to product traceability, which explores how blockchain can help curb potential food-related crises by tracking products in supply chains, the resulting blockchain prototypes in development include cashless wallets, power distribution and transaction origin.
Thillai Raj T. Ramanathan, Chief Technology Officer at MIMOS, noted that as Malaysia’s transformation advances further into the Fourth Industrial Revolution, blockchain can help drive growth in various sectors. He also said it can serve as potent enablers for the national Industry 4.0 policy, known as Industry4WRD.
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