Search

Malaysia’s EV sector to embrace blockchain technology solutions with latest market collaborations

by

Azunta Gaviola

-

5 months ago

Are you ready to unlock the secrets to skyrocketing your e-commerce business in the hearts of Southeast Asia’s e-commerce hub? The ‘E-Commerce Marketing Series 2024’ conferences are coming to Malaysia and the Philippines starting this July! Click here to find out more!

Malaysia – Aiming to combat the ongoing industry challenges within Malaysia’s electric vehicle sector, ACO Tech, Malaysia Automotive, Robotics, and IoT Institute (MARii), alongside Geno Group, have recently entered into a strategic agreement focusing on the potential of blockchain technology in Malaysia’s EV infrastructure.

In this collaborative venture, the three companies aspire to offer blockchain technology solutions to address the uneven distribution of charging stations and charging rates across Malaysia. Moreso, bring together new industry benchmarks for sustainable practices and an improved user experience.

The proposed solution, in particular, is expected to feature smart contracts and digital assets like non-fungible tokens (NFTs) targeting enhanced decentralisation, privacy protection, as well as more effective interaction among EV manufacturers, service providers, and owners.  

These efforts focus on reducing costs, enhancing user experiences, and ensuring transparency throughout the product and service lifecycle. It also seeks to provide enhanced security and equitable distribution of resources, with digital traceability management and tokenomics solutions at hand. 

Simultaneously, it also aims for operational uniformity to advance the sector towards a comprehensive EV framework. 

Commenting on the partnership, Azrul Reza, CEO at MARii, said, “By exploring blockchain solutions, we are not only addressing current challenges in the EV sector but also laying the groundwork for a secure and scalable infrastructure aligned with the National Automotive Policy 2020.” 

“By synergizing our capabilities, we aspire to set new industry standards, promoting sustainable practices and user-centric innovations,” added Azrul. 

As the first industry-wide application of blockchain technology within Malaysia’s EV sector, this initiative creates a comprehensive and supportive ecosystem for electric vehicles, with a focus on safety, sustainability, and efficiency.

Discover the current trends in business communication based on over 473 billion interactions. Download the free report here to stay ahead of the curve in messaging trends!
Experience history at MARKETECH APAC’s ‘Marketing Technology Awards 2024! On November 28, live in Singapore, celebrate visionaries shaping Asia-Pacific’s marketing tech across 45 categories. Join us in honouring innovation and excellence! Click here to learn more.

 

Share

RECENT ARTICLES

Progress unveils new capabilities of LoadMaster 360 to help organisations secure web applications
NetApp to boost scalability, performance for strategic cloud workloads with expanded capabilities
NCS introduces suite of AI, digital resilience solutions to boost tech adoption
CelcomDigi’s new AI experience centre to drive digital transformation, accelerate development using emerging tech
Email security awareness in SEA soars the highest amongst developing regions at 43.2%: report
Ellipse 3

RELATED ARTICLES

Progress unveils new capabilities of LoadMaster 360 to help organisations secure web applications_11zon
NetApp to boost scalability, performance for strategic cloud workloads with expanded capabilities_11zon
NCS introduces suite of AI, digital resilience solutions to boost tech adoption_11zon
Ellipse 3

FEATURED ARTICLES

Progress unveils new capabilities of LoadMaster 360 to help organisations secure web applications_11zon
NetApp to boost scalability, performance for strategic cloud workloads with expanded capabilities_11zon
NCS introduces suite of AI, digital resilience solutions to boost tech adoption_11zon

Subscribe to UpTech Media Newsletter

Video Title Here: The Indonesian on-ground activation status

Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos.

Video Title Here: The Indonesian on-ground activation status

Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos.

Video Title Here: The Indonesian on-ground activation status

Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos.