KUALA LUMPUR, Apr 23, 2024 - (ACN Newswire) - Masverse Sdn. Bhd., a pioneering blockchain specialist company, today announced the launch of MasChain, a transformative platform designed to revolutionise the digital ecosystem for government, enterprises, and industries by enhancing the security and trustworthiness of transactions via Proof of Authority (PoA).

Leveraging the first PoA chain, MasChain is set to democratise blockchain technology by providing revolutionary token digitalisation solutions across government and industry, unlocking the full potential of blockchain applications to practitioners and users for the protection of assets on the chain. Through the Substrate core framework and pallets smart contracts as modular components, MasChain can provide flexibility and stability. Network scalability is achieved via the PoA consensus mechanism, which greatly simplifies the entire process and unlocks the possibility of future blockchain applications.

The launch was witnessed by Mr. Danesh Jothiprahasam, Head of Domestic Digital Investment of Malaysia Digital Economy Corporation (MDEC) and Mr. Chew Kian Kok, Chief Executive Officer of Masverse.

Masverse signed two Memorandums of Agreement with GamBit Group Sdn. Bhd. for enhanced custodian wallet services and TCF ecosystem and Intelligence Traceability Sdn. Bhd. for halal compliance and recycling product traceability services. Masverse also signed five Memorandums of Understanding with Vero AI Sdn. Bhd. To establish E-Halal Hub Ecosystem within ASEAN countries, Jabo Plantation Sdn. Bhd. for smart farming, traceability and tokenisation of the Jaboticaba Plantation, JomStay Digital Technology Sdn. Bhd. to enhance tourism, Accelerator Resources Sdn. Bhd. for a membership programme, and Asia Digital Bank Ltd in Web3 development across financial solutions across ASEAN and Islamic Union countries.

Founded in Malaysia, Masverse is at the forefront of digital innovation, creating a Layer 1 blockchain infrastructure and a Web3 ecosystem that promises to bridge the gap between current technologies and a future where digital advancements are universally beneficial. MasChain is designed to cater to various needs and applications, from financial technology (fintech), halal traceability, education, retail and supply chain management to digital identity and beyond, and for authorities and businesses to benefit from a blockchain solution. Their certification platforms and Islamic Financial Solutions also aim to empower individuals and businesses to thrive in the digital era by fostering blockchain use to be approachable and useful for everyone nationwide.

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