GTCG was granted blockchain industrial operation license by the Malaysia government and formed a blockchain committee
Recently, KJT officially announced that it has completed the initial financing and strategic cooperation agreement for the institution. KJT is committed to creating a “chain of cross-border lightning settlement” blockchain project, which is established by Malaysia Guo Tong Capital Group (GTCG).
November 7, 2018 /PressReleaseAgency/ —
In order to promote the development of the domestic blockchain ecosystem in Malaysia, the Malaysian government has issued the first blockchain industrial operation license to the KJT cross-border payment project, and plans to set up independent operation centers and consensus communities in Singapore, Malaysia, Malaysia, Malaysia, seychelles, New Zealand, South Korea and other countries and regions.
The new committee chairman said blockchain could bring decentralization, trust and accountability to multiple business areas. To become mainstream quickly and efficiently, blockchain technology requires the intervention of government agencies, regulators and businesses.
In order to promote the development of the domestic blockchain ecosystem in Malaysia, CTCG has established a committee dedicated to research and development of decentralized technologies and cross-border payments with a number of international financial institutions and technology companies. KJT is jointly established by GTCG of Malaysia and GJEX of global digital assets trading center (GJEX). Meanwhile, the top professional international team is responsible for project development, promotion and community operation. The core members of the technology team come from top technology companies and the research institute of blockchain worldwide, and have rich experience in the development of technologies such as IOT traceability, blockchain source code, DPOS+POW mechanism and intelligent contract. With the establishment of the new blockchain committee, GTCG is seeking to work with government, broader industry and emerging industry startups to develop blockchain ecosystems.
The report also adds that one of the Commission’s priorities is to use blockchain technology to promote the development and prosperity of international finance and trade in Malaysia’s new digital economy.
The committee also includes several well-known executives from major corporate companies in the technology and finance sectors, such as Microsoft, MasterCard, IBM and India’s largest private bank, HDFC Bank.
Although the restrictions on the cryptocurrency sector remain unregulated, the establishment of the Blockchain Committee demonstrates a concentrated effort to integrate breakthrough technologies into the wider society.
KJT’s chief CEO, Jebalal Mansa Sumathy, said KJT will use a complete information exchange storage technology based on multiple secure offline signatures, information encryption security layered architecture, and the encryption of the zero-knowledge proof trade order will be completed by the key provided by the CertEurope6PKI-on-blockchain service, which provides a strict layout for KJT’s long-term ecological implementation development strategy, and creates a global cross-border commerce and payment platform for the six-in-one blockchain with openness, transparency, fairness, security, credibility, community autonomy, ecological sharing and human convenience.
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Source: PressReleaseAgency
Release ID: 440343
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