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Malaysia wants to attract more blockchain tech professionals

Malaysia has launched a work visa program which targets tech freelancers. The aim is to address a demand for blockchain capable talents.

The Malaysia Digital Economy Corporation (MDEC) (a government-owned organization that oversees the tech sector), a blockchain organization and a job marketplace jointly launched the program.

The program seeks to attract foreign professionals who will have the right to stay in the country for up to 12 months to provide blockchain-related services or undergo training at a Malaysian company.

The MDEC growth ecosystem development vice-president stated that the program will be kicked off by starting with blockchain jobs. The number of visas to be issued depends on the projects that will be run by blockchain companies in Malaysia.

As previously reported, the blockchain organisation established its Blockchain Centre in a 10,000-square foot facility in the capital of Kuala Lumpur to serve as an accelerator, incubator and coworking space. The centre also houses the firm’s Innovation Lab, a headquarters for the research and development of the company’s platform.

In June 2018, a Malaysian government advisory committee, Majlis Perundingan Melayu signed a memorandum of understanding with South Korean blockchain lab for blockchain tech development permissible under Sharia law. The parties aim to develop a blockchain platform and a decentralized application that would meet the social requirements to be considered permissible by the Sharia Commission.

In September 2018, the government of Hong Kong announced an initiative that seeks to attract professionals in distributed ledger technology by simplifying the immigration policy. The move designated the government’s intention to support Hong Kong’s development as a high value-added and diversified economy.

OpenGov reported earlier on the use of blockchain in Malaysia. The nation is working to build the first blockchain-city in Asia, with the aim of using blockchain to make the city the leading tourist destination in Malaysia.

Malacca, the Malaysian city, will reportedly be turning 835 acres into a tourist blockchain-city of the future, with support of the government of China and several major corporations.

The Melaka Straits City will be constructed on a total of 635 acres of reclaimed land, where boutique hotels and about 100 villas with a beautiful sea view and private access to the beach will be built along the coastline, while another 200 acres of the marine area will be kept for building chalets, and water recreation facilities.

More recently, OpenGov Asia reported that Malaysia will use blockchain for securities borrowing and lending. The stock exchange of Malaysia will be working with bank stakeholders in developing Southeast Asia’s first blockchain proof-of-concept for securities borrowing and lending.

The project will explore the opportunities afforded by blockchain technology to develop greater transparency and to address other operational challenges associated with the SBL market in the country. The project aims to ramp up efficiency, speed, and capacity in securities lending supply and borrowing demand.

It is evident that Malaysia is steering the nation towards digital transformation at a rapid pace. OpenGov Asia covered how the Government is looking to secure more investments in high tech (for example, blockchain-based technology).

The investments are necessary for boosting the country’s growth. With its a business-friendly environment and policies fine-tuned to accommodate investors, Malaysia is the perfect place for high-tech investments, according to the Prime Minister.

As the nation now begins issuing work visas as part of the new program, it is expected that Malaysia will see another spike in blockchain innovations and new distributed ledger (DLT) technologies.

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Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

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CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

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Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

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HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

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IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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