MDEC drives digital future with blockchain summit

MDEC, the Malaysia Digital Economy Corporation, recently hosted the second Malaysia Digital Tech Adoption Summit, focusing on blockchain technology.

The event, officiated by Deputy Minister of Digital, Datuk Wilson Ugak Anak Kumbong, reinforced Malaysia’s goal to become the digital hub of ASEAN.

The summit aligns with the Malaysia Digital (MD) national strategy, aiming to boost the nation’s digital economy through blockchain.

Blockchain technology in Malaysia has seen rapid growth.

As of 2024, over 840,000 Malaysians have opened accounts with regulated digital asset exchanges.

In 2021, RM21 billion worth of digital assets were traded, a sharp rise from RM1.4 billion in 2020.

Blockchain’s potential impact on sectors like finance, supply chain, and public services could help drive significant economic growth.

Blockchain adoption gains momentum

The summit highlighted how blockchain technology can enhance transparency, security, and efficiency.

These features are vital for Malaysia to stay competitive globally. MDEC brought together leaders from various industries to explore blockchain’s future in the nation.

Blockchain will revolutionise sectors like finance, healthcare, and supply chain management as its efficiency can greatly benefit SMEs, while large enterprises can scale better with it.

Attendees participated in networking and business-matching opportunities.

This collaboration aimed to strengthen Malaysia’s digital infrastructure and create secure and transparent systems.

The summit also included case studies on businesses successfully using blockchain.

MDEC’s push for digital innovation

MDEC plays a leading role in driving Malaysia’s digital transformation.

The summit aligns with national initiatives like MyDIGITAL and the Fourth Industrial Revolution (4IR) framework.

Both aim to boost productivity by 30% through technology-driven solutions.

The event covered key topics such as blockchain regulation and its role in driving innovation.

Real-world success stories showed how businesses across sectors are benefiting from blockchain technology.

Blockchain is set to play a crucial role in Malaysia’s future.

Globally, the blockchain market is expected to grow to USD 69 billion by 2032. Malaysia, led by MDEC, aims to capitalise on this technology for long-term economic growth.

MDEC remains dedicated to driving the adoption of blockchain.

By promoting cross-industry collaboration and new digital solutions, MDEC is positioning Malaysia as a digital leader in ASEAN.

As blockchain technology evolves, its impact on various industries will continue to expand, further strengthening Malaysia’s role in the global digital economy.