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Malaysia Automotive Institute (MAI), an agency under the Ministry of International Trade and Industry (MITI), has signed a Memorandum of Agreement (MoA) with Crypto Valley Malaysia (CVM), a research and innovation center Hybrid Exponential Technologies, to implement blockchain technologies and initiatives aimed at advancing the national policy of industry4WRD.
Data & # 39; Madani Sahari, CEO of Malaysia Automotive Institute (MAI), said: "" As the industry begins to recognize the immense potential of the blockchain and how to redefine the automotive industry, it is It is essential that governments and businesses adapt as technology evolves through strategic partnerships to make transport more efficient, accessible, accessible, safer and more environmentally friendly. This is what we would like to advance together with CVM and we are pleased to be part of this partnership. "
The partnership roadmap focuses on improving supply chain efficiency and transforming the after-sales sector and services through the reputation economy 2.0 by integrating the SophiaTX blockchain with business applications such as SAP, and other new technologies to accelerate the industries of the future ecosystem.
"Through the implementation of the SophiaTX blockchain, we aim to provide greater efficiency, enable greater collaboration along the value chain and reimagine new business models, especially when it comes to ownership and use of shared resources," said co – CVM founder, Effendy Zulkifly. .
Both organizations will use the SophiaTX blockchain to address common automotive challenges, including opaque end-to-end supply chain visibility with planned and current demand insights, traceability of critical items and inventory, supply constraints at any desired level of the product hierarchy and improper handling of changes to orders placed.
The use of blockchain-based applications in supply chain management simplifies data sharing and ensures both accuracy and availability of information between parties in multi-tier supply ecosystems.
"Since our inception in 2017, we have been working on the SophiaTX blockchain to make sure it has the skills to compete in the industry 4.0.Now we are finally seeing the results and we are ready to bring our blockchain into the automotive space and national mobility to increase the transparency of accurate information among the various parties, improve timely logistics, validate the authenticity of spare parts and reduce incorrect orders, 'said Choo Kok Weng, regional director of APAC at SophiaTX.
