Kuala Lumpur (VNA) - Globally,the usage of blockchain technology spans beyond cryptocurrencies, saidAsso. Prof AfizanBin Azman from the Taylor’s University of Malaysia.
In his article,Azman wrote that createdin 2008, blockchain is a decentralised ledger that can be used to verify andtrace multi-step transactions in health care, retail, supply chain, financialindustries, and more. Having reduced compliance costs and speed-up datatransfer processing, users can also confirm secure transactions using thistechnology, without the requirement for a central clearing authority.
Malaysiastarted its efforts in blockchain technology in 2015, with the SecuritiesCommission (SC) and Bank Negara Malaysia (BNM) as important parties in themovement.
Moving forward,the Malaysian Industry-Government Group for High Technology (MIGHT) has stated thatMalaysia will be adopting blockchain by 2025 and many banking institutions arerequested to explore and adopt this technology into their financial systems.
As medical data is a highly privacy-sensitive element,blockchain’s distributed ledger technology in health care makes it easier totransfer patient medical records securely, improve health care data security,control the medication supply chain, and aid genetic code study in the medicalfield, therefore ensuring medical data integrity and privacy in Malaysia.
Blockchain technology can also help with medicine shortagesthrough proper analysis at hospitals. Through analysis with untampered data, itcan help to solve issues in the pharmaceutical supply chain by establishingproof of ownership, the scholar wrote./.
Singapore wants to be a global crypto hub, but not be a centre for trading and speculating on cryptocurrencies, Ravi Menon, the managing director of the Monetary Authority of Singapore (MAS), has said.
The blockchain-based origin tracing system iTrace247 made its debut at a seminar in Hanoi on March 21, which was held to review the Support of Regional Economic Cooperation in Asia (SRECA) project.
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
A technical issue combined with an extreme heatwave was blamed for a series of explosions at a military base that killed 20 soldiers and injured several others in Cambodia on April 27, the country’s Ministry of Defence said in a May 2 statement as reported by the Xinhua news agency.
The Customs Department of Thailand is scheduled to commence the collection of value-added tax (VAT) on imported goods sent via postal services, regardless of the goods value, starting in May.
A lecturer from Chulalongkorn University’s Faculty of Medicine has warned Thais to be more vigilant against COVID-19, saying infection rates appeare to be worsening with higher hospital admissions, deaths and severe cases.
Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, according to Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
Laos has officially restored the 10% value-added tax (VAT) rate starting May 1, in a bid to support the country’s budget revenue and socio-economic development.
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
Thailand expects to export about 1 million tonnes of durian, valued at an estimated 130 billion THB (3.53 billion USD) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
The 72nd meeting of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC) and related meetings are being held by the Ministry of Science and Technology’s Intellectual Property Office (IPO) of Vietnam in the central city of Da Nang on April 22-26.
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
Illustrative image (Photo: Azmilaw) 
