MYEG Announces Strategic Alliance with MIMOS Berhad, Worldcoin Foundation and Tools for Humanity, to Revolutionise Malaysia's Blockchain Infrastructure and Digital Ecosystem

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KUALA LUMPUR, Malaysia, Aug. 16, 2024 /PRNewswire/ -- MY E.G. Services Berhad (MYEG), MIMOS Berhad (MIMOS), the Worldcoin Foundation, and Tools For Humanity (TFH) have entered into a collaboration which combines the unique capabilities of each organisation to explore the integration of Worldcoin's advanced credential verification technology into Malaysia's Blockchain Infrastructure (MBI). Additionally, the partnership will assess the feasibility of potential local manufacturing of Orbs, TFH's hardware and software tools for human verification.

In October 2022, MYEG and MIMOS entered into a MOU to collaborate on building and operating the Malaysia Blockchain Infrastructure (MBI). This partnership aims to accelerate blockchain adoption in Malaysia by combining MIMOS' expertise in Information and Communication Technology (ICT) research and development (R&D) with MYEG's cutting-edge Zetrix blockchain technology.

The strategic alliance forged between MYEG, MIMOS Berhad, Worldcoin Foundation, and TFH, promises to revolutionise the digital landscape in Malaysia. By combining their expertise and resources, these entities will create a synergy that will significantly enhance the security, efficiency, and scalability of digital ecosystems and blockchain applications within the country.

MIMOS Berhad, known for its prowess in R&D, will provide the technical backbone for this collaboration. Its highly skilled engineers and scientists will work tirelessly to develop cutting-edge solutions that address the unique challenges of the digital age.

Worldcoin Foundation, with its commitment to building a more inclusive and equitable global economy, will contribute its expertise in blockchain technology. Its efforts will focus on ensuring that the benefits of digital transformation reach all corners of Malaysian society, fostering financial inclusion and empowering individuals and communities.

Tools For Humanity, a technology company dedicated to building technology that helps ensure a more just economic system, will bring its wealth of experience in developing digital solutions for marginalised populations. It will work closely with MIMOS Berhad and the Worldcoin Foundation to create innovative tools and platforms that address critical societal issues such as education, healthcare, and environmental sustainability.

MYEG, the leading provider of digital government services in Malaysia, will contribute its extensive infrastructure and expertise in delivering seamless online experiences. It will work to incorporate the solutions developed by MIMOS Berhad, Worldcoin Foundation, and TFH into existing government service delivery systems, ensuring that citizens can access these services conveniently and securely.

This collaboration is set to significantly impact Malaysia's digital economy. It will enhance the security and efficiency of digital transactions, building trust in online platforms and motivating businesses to embrace digital transformation. This, in turn, will drive innovation, create jobs, and fuel economic growth.

Furthermore, the collaboration will support the development of a skilled workforce in digital technology. Through training programmes and educational initiatives, the partners in this alliance will equip Malaysians with the knowledge and skills needed to thrive in the digital age.

In summary, the synergy between MYEG, MIMOS, Worldcoin Foundation, and TFH, represents a bold step forward in Malaysia's digital journey, driving innovation, fostering technological advancement, and creating a more inclusive and prosperous digital economy for all Malaysians.

About Worldcoin Foundation

The Worldcoin Foundation, the steward of the Worldcoin protocol, aims to realize more inclusive, fair and just institutions of governance and of the global digital economy. The Worldcoin protocol is intended to be the world's largest, most inclusive identity and financial public utility and to be accessible by everyone. The Worldcoin protocol is designed to empower individuals and organizations around the world with the tools they need to participate in the digital economy and advance humanity's progress. Find out more about Worldcoin at www.worldcoin.org, on Twitter/X, Discord, YouTube and Telegram.

About Tools For Humanity

Tools for Humanity (TFH), co-founded in 2019 by Sam Altman (Chairman) Alex Blania and Max Novendstern, is a global technology company established to accelerate the transition towards a more just economic system.  TFH took the initial steps toward developing the Worldcoin protocol and supported its multi-year beta testing phase. It then transitioned stewardship of the protocol to the independent Worldcoin Foundation prior to the protocol's launch in late July 2023. Today, TFH continues to provide services to the Worldcoin Foundation and operates World App, the first Worldcoin-compatible wallet. 

About MY E.G. Services Berhad

MYEG is Malaysia's premier digital services company. Having commenced operations in 2000 as the flagship e-government services provider, MYEG continues to play a leading role in driving technological change in the region, bringing a diverse and complete range of innovations spanning the online delivery of major government services to a variety of commercial offerings in the areas of immigration, automotive and financial services, among others. Committed to staying firmly at the forefront of the global digital revolution, MYEG has embraced the potential of blockchain technology to enhance all aspects of life and is actively pioneering its adoption across the region through its Layer 1 platform Zetrix. Besides its home market, MYEG's presence spans other key regional markets such as China, The Philippines and Hong Kong.

About MIMOS Berhad

MIMOS is a strategic agency under the Ministry of Science, Technology and Innovation (MOSTI) and a premier innovation centre in Semiconductors, Microelectronics, and ICT technologies, contributing to Malaysia's socio-economic growth through patentable technology platforms, products, and solutions. Since its inception, MIMOS has filed more than 1,300 patents in various technology domains and across key socio-economic areas driving Malaysia's digital transformation journey into the international arena.

As a centre of research excellence, MIMOS R&D activities currently focus on Semiconductor & Thin Film Research, Advanced Electronics & Embedded Systems, as well as Manufacturing and Smart Nation technologies. MIMOS continuously enhance its collaborations with existing strategic partners, explores new opportunities with potential partners, and develops new technology companies and business-oriented technology venture organisations. MIMOS also maintains its R&D of advanced technology, explores the development of global technopreneurship, and cultivates an attitude of trust, innovation and high performance.

For more information, please visit www.mimos.my.

SOURCE MY E.G. Services Berhad