ZETRIX DEPLOYS W3C-COMPLIANT DIGITAL IDENTITY SERVICE ('DIS') AS XINGHUO INTERNATIONAL SUPERNODE GOES LIVE
DIS Introduced to Distinguish Human Interactions from Artificial Intelligence
PETALING JAYA, Malaysia, June 1, 2023 /PRNewswire/ -- Zetrix, the Layer-1 blockchain platform by MY E.G. Services Berhad ("MYEG"), today announced the successful live deployment of the Xinghuo International Super Node along with the introduction of groundbreaking Xinghuo BIF naming services namely Xinghuo Beta Name System ("BNS") and Xinghuo Digital Identity Service, which are fully compliant with W3C International Standards.
Coming just a mere six months after MYEG and China's national blockchain, Xinghuo Blockchain Infrastructure and Facility ("Xinghuo BIF"), had inked an agreement for MYEG to own and operate the Xinghuo International Super Node, this marks yet another major milestone in bringing real world use cases on to the Zetrix blockchain.
The World Wide Web Consortium ("W3C") is an international community that develops open standards to ensure the long-term growth of the Web. Complying with the latest W3C standards, the Xinghuo Digital Identity Service is a pioneering decentralised identity service that enables immutable verification of online identities. Today, such a service is proving to be particularly essential and indispensable in a world where there is an increasing need for online accounts to be verified in determining whether it belongs to a real human being or Artificial Intelligence ("AI").
"We are delighted to achieve this important milestone within a short period of time. Xinghuo International Super Nodes are important in providing connectivity for cross border transaction with Xinghuo BIF and many more services will be introduced to facilitate global trade," explained Dr. Jin Jian, Director of Institute of Industrial Internet and Internet of Things Institute (IIIIoT), CAICT.
"In a brave new world of AI-powered Smart Contracts, decentralised identifiers ("DID") like our Digital Identity Service will be widely used to identify the nature of online interactions as it is becoming increasingly difficult to distinguish engagements between human and AI agents. We are delighted to be amongst the first to introduce W3C-compliant DID to ensure compatibility and inter-operability with other platforms," said TS Wong, Group Managing Director of MYEG.
Xinghuo BIF is a global blockchain infrastructure devoted to a trustworthy digital foundation for the world. It comprises at least seven supernodes covering main areas in China and 29 backbone nodes provide services to a broader range of industries and cities. Approximately 100 million blockchain identifiers are resolved daily on Xinghuo BIF, placing it as the most actively used blockchain platform globally.
Through the Xinghuo International Super Node, operated by Zetrix, on-chain assets and transactions can now cross seamlessly across the Zetrix and Xinghuo blockchains, thus connecting governments, businesses, and individuals to a global blockchain-based ecosystem.
The Xinghuo Digital Identity Service, meanwhile, ensures the interoperability of digital identities issued via Zidentity ("ZID"), Zetrix's digital identity platform, and their equivalent digital identities issued on Xinghuo BIF, while BNS is a feature that allows users to register and allocate their preferred names to blockchain addresses that would otherwise normally be a string of alphanumeric characters.
The deployment announced today is a latest in a series of real-world use cases introduced by MYEG on Zetrix that aims to connect China with the rest of the world. In March, MYEG signed a partnership with East Logistic-Link Co., Ltd, a wholly-owned agency of the General Administration of Customs of the People's Republic of China, to jointly provide a full suite of cross-border trade facilitation services that include certificates of origin and other international trade-related certificates on the Zetrix blockchain platform. The service will enable all data in these certificates to be available accurately in near real-time, hence, increasing the efficiency of tariff computation and customs clearance.
About Zetrix
Zetrix is a layer-1 public blockchain that facilitates smart contracts and delivers privacy, security and scalability. Zetrix's cryptographic infrastructure can be introduced to multiple industries to connect governments, businesses and their citizens to a global blockchain-based economy.
Developed by MY E.G. Services Bhd, the cross-border and cross-chain integration with China Blockchain enables Zetrix to serve as a blockchain gateway that facilitates global trade by deploying critical building blocks for Web3 services such as Blockchain-based Identifiers (BID) and Verifiable Credentials (VC).
About MY E.G. Services Bhd ("MYEG")
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, healthcare and financial services, among others.
Committed to staying firmly at the forefront of the region's digital revolution, MYEG has embraced the potential of blockchain technology to enhance all aspects of life and is actively pioneering its adoption across its main markets. MYEG has operations in key regional markets such as the Philippines and Indonesia.
About Xinghuo BIF
Xinghuo BIF is a national blockchain infrastructure supported by Ministry of Industry and Information Technology and led by the China Academy of Information and Communications Technology (CAICT). It provides services mainly to industrial Internet, makes breakthroughs in Internet identifier, increases the application of blockchain and drives the economy. With open construction strategies and governance model, Xinghuo BIF positions as a national blockchain infrastructure that provides service to the world and its construction was started in Aug 2020. On 3 Aug 2021, CAICT released BIF-Core, which marks the start of its primary chain operation and global service.
SOURCE Zetrix
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