Blockchain development in Malaysia
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| Ocean wave, Malaysia |
Blockchain applications have opened a new door and brought new opportunities for entrepreneurs in Malaysia.
Blockchain technology
Blockchain is a democratically distributed incorruptible digital ledger to record all kinds of transactions. It is becoming popular because of its transparency and privacy. Moreover, it has a democratic nature and there is no central server to store data. This very nature of blockchain technology reduces the need for a middleman. Malaysia has been advancing in milking the power of this technology.
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| Blockchain technology |
Malacca, the blockchain city in Malaysia
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| Night market in Malacca city |
Malaysia has been establishing a blockchain and cryptocurrency based city Malacca in its coastal area. Allegedly, China is helping the country in developing the blockchain city. Malacca is situated adjacent to the Malacca Street, a crucial shipping lane in Asia. Malacca may be renamed as Melaka Straits City, has a massive scope in blockchain technology.
Reportedly, the city and its infrastructure will use cryptocurrency built on a so-called DMI platform. DMI token will be the currency of the Malacca city. Tourists can exchange, using a business application feature, fiat currencies with DMI token.
At last, Malacca or Melaka Straits city will be the world's first cryptocurrency based city.
Blockchain business applications in various trade and industries
Blockchain is for anyone and everyone who want to use it. Hence, any business can use it. 100+ business has already adopted the technology and its business applications. Extensive use of blockchain is seen in cryptocurrencies likes of Bitcoin and Etherium. Next, smart contracts and hyper ledgers are the applications of blockchain.
Banking and finance industries, supply chain management, ridesharing (Taxi), retail are some of the other sectors using blockchain technology in their business applications extensively. Also, electronics, construction, and automotive, main industries in Malaysia have a huge scope adopting blockchain technology.
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| Palm Beach, Malaysia |
Last but not least, tourism is the main service industry in Malaysia earning huge foreign currency for the country. Danum Valley, the pristine rainforest of Danum Valley, Sipadan Island, Kinabatangan River, Mount Kinabalu all in Sabah; Mulu National Park, Bario, and Kelabit Highlands in Sarawak, Kuala Lumpur, Perhentian Islands, Terengganu, etc are the most preferred tourist places not only in Malaysia but also in entire southeast Asia. There is a vast scope of blockchain technology-based business applications in the tourism industry in Malaysia.
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| Beach in Malaysia |
Blockchain in agriculture in Malaysia
Malaysia is in an advanced stage of agriculture. Paddy, coconut, rubber and palm oil are the main agricultural products. Malaysia is one of the biggest exporters of rubber and palm oil. Moreover, its rubber export is increasing year by year since 2001.
Blockchain applications can play a key role in husbanding agriculture, advancing a distribution system, tracking transportation in agriculture. A good mix of technology and business can be vital for agricultural growth and agro-based industries in Malaysia.
Blockchain technology business applications development company
Vardhaman Infotech is a Blockchain technology business applications development company. The company develops quality blockchain applications at a highly competitive rate. If you are in Malaysia or anywhere in the world you can rely upon the Indian company. Obviously, India is a preferred destination for offshore outsourcing with its competent yet cheap workforce.
eCommerce and Mobile Application development
E-mail: info@vardhamaninfotech.com
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Photo courtesy: Pexel and Airpaz blog
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