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Malaysian tech company signs major MOUs for enterprise

According to a recent report, a Malaysian tech company has signed two memoranda of understanding (MoUs); one with a Developer of Integrated Projects based in Johor Bahru, and another with a custom footwear company for the development of blockchain technology.

Under the terms of MoUs, the tech company will use blockchain technology, Internet of Things and artificial intelligence to develop solutions for the two firms it is partnering with to record consumer payment behaviour and transactions for big data collection to analyse their spending pattern.

It was noted in a statement that the solutions that the tech firm will be providing will enable the other two companies to provide a comfortable and unique experience to their customers, which, in turn, will help in their future expansion and development.

The tech firm is a leading integrated information technology (IT) solutions and software services provider in Malaysia.

The firm’s Founder and Managing Director noted, during the signing ceremony in Malaysia, that blockchain technology has become more prominent and popular. The rapid development of blockchain technology and its irreplaceable decentralisation and transparency feature led to many industries implementing blockchain.

He added that, therefore, these days, many corporations are willing to invest in blockchain technology. However, they often do not find the right partner to develop this technology for them.

The Executive Chairman of the bespoke shoe store in Malaysia noted that he trusts the tech company to develop a blockchain technology that will help its business.

At the same event, the tech firm also announced its cooperation with a finance company. It was noted that with the cooperation of the tech firm through the share exchange offer of the finance company, both can integrate resources to achieve mutual benefits and enhance competitiveness.

The Business Development Director at the tech firm noted, at a press briefing, that blockchain technology is something society can not do without in today’s age, adding that it is a major focus for the tech firm, which will be the biggest contributor to the finance company’s success.

Moreover, it was noted that the tech firm has a unique blockchain platform that comes in handy when developing solutions for clients in different industries.

It is important to note that the application of blockchain is growing in the region.

OpenGov Asia published an earlier report on how Malaysia is using blockchain in various industries.

From renewable energy to the palm oil industry, to Islamic finance, the nation is finding innovative ways to employ blockchain.

The government hopes that blockchain will not only help boost the country’s economy but also increase transparency and sustainability in the aforementioned sectors.

Blockchain is interesting because it allows small players to have a say about what’s going on, according to the program director at MIGHT, the report noted.

As mentioned earlier, all these moves will enable the government to manifest a few of the objectives mentioned in Malaysia’s Smart City Initiatives, namely, to establish policies, strategies and action plans (like the implementation of blockchain technology in the major industries of Malaysia) based on urban categories with reference to the national urbanization policy.

It is clear that both the government and industry players are planning to harness the power of blockchain in 2019; what remains be seen is how well these plans are executed.

PARTNER

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.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

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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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