SlideShare a Scribd company logo
Feasibilities Study of Blockchain
Ecosystem in Malaysia Government
BY EFFENDY ZULKIFLY
BLOCKCHAIN TECHNOLOGY EVANGELIST
CONTENTS
1. My Involvement in Blockchain Word
2. Government & Corporate Issues
3. Malaysia Blockchain Ecosystem
4. Use Cases in Malaysia
5. Challenges & Limitations
6. What’s Next!
7. Conclusion
My Involvement in
Blockchain World
• CEO of Blockchain Academy Asia
• Co-Founder of Crypto Valley Malaysia
• Founder of Blockchain Research
Centre Malaysia
Precious Moments
With VVIP in Blockchain Ecosystem
With TRESCON GLOBAL in World Blockchain Summit 2017
Blockchain R&D Journey
R&D Journey :
My involvement in Worldwide FinTech
& Blockchain Events
(Year 2016 & 2017)
North American Bitcoin
Conference, Miami,
Jan 2016
Keynote World Blockchain
Forum, Burj Al Dubai,
March 2017
iFX Expo Asia
Bitcoin Conference,
HK, Feb 2017
10th China Forex Expo
Shenzen China, Oct 2016
Keynote Blockchain
Forum, Brussels,
Nov 2016
Money, Blockchain
Conference, London,
Nov 2016
Singapore Fintech
Festival, Nov 2016
Government Issues
&
Corporate Governance
Blockchain in the Public Sector
One year ago: 117 Initiatives in 26 Countries
Source: Deloitte analysis in conjunction with the Fletcher School at Tufts University
(March 2017)
Blockchain in the Public Sector
Now: 202 Blockchain Initiatives in 45 Countries
Source: OECD analysis of data collected by The Illinois Blockchain Initiative (March 2018)
Blockchain in the Public Sector
Potential Use Cases
Use Case Description
Identity Establishing and maintaining identities for citizens and residents (birth
certificates, marriage licenses, visas, death records).
Personal records Interoperable health records, insurance records, etc.
Land title registry Details and historic records related to real estate and property transactions.
Supply chain management,
inventorying
Tracking an asset from its creation, transportation, purchase, and
inventorying.
Benefits, entitlements, and aid Social security, medical benefits payments, domestic and international aid.
Anticipatory/automated payments could be automated through Smart
Contracts.
Contract and vendor management Tracking and paying vendors, managing purchase commitments and
transactions, and monitoring schedule performance. Can allow for perfect
transparency of government expenditures.
Voting Enabling new methods of digital voting, ensuring eligibility, accurate
counting, and auditing (e.g., to avoid ballot-rigging).
Streamlining interagency processes Blockchains and smart contracts can automate transaction handling and
improve information sharing – allows each agency to better focus on their
own mission and tech without as much need to consider others tech.
Blockchain in the Public Sector
Top 10 types of projects
Rank Types of projects (count)*
1 Strategy/Research (42)
2 Identity (Credentials/Licenses/Attestations) (25)
3 Personal Records (Health, Financial, etc.) (25)
4 Economic Development (24)
5 Financial Services/Market Infrastructure (20)
6 Land Title Registry (19)
7 Digital Currency (Central Bank Issued) (18)
8 Benefits/Entitlements (13)
9 Compliance/Reporting (12)
10 Research/Standards (12)
Source: OECD analysis of data collected by The Illinois Blockchain Initiative (March 2018)
*Initiatives may be tagged with more than one type of project.
Blockchain in the Public Sector
Cross-sector communities (public,
private, civil society) learning about
blockchain together and exploring
the use and implications of
Blockchains in government.
For example, the U.S. Emerging
Citizen Technology Office (ECTO)
has been created to provide a
common guidance and vision for
emerging tech in the U.S.
government and to share ideas and
connect innovators. Bring in insights
from other sectors.
COMMUNITIES OF
PRACTICE
PUBLIC-PRIVATE
PARTNERSHIPS (PPPs)
Communities of Practice &Public-Private Partnerships
Two of the fastest growing best practices
COMMUNITIES OF
PRACTICE
Efforts to bring public agencies and
private firms together in
developing and implementing
Blockchain systems. Often, private
firms assist government agencies
with the technological aspect of the
work.
For example, the ID2020 initiative
(UN agencies, companies such as
Microsoft Accenture) seeks to
provide formal identities to the 1.1
billion individuals who lack one,
including millions of refugees.
Blockchain in the Public Sector
Example 1: Vehicle Wallet (Denmark)
Problem:
During a car’s lifecycle it undergoes various phases and activities (tests, repair, loan, insurance and changes in
ownership). When a car is sold from one person to another, there can be a lack of information from either the buyer or
seller. On the seller’s side, the car could have undergone an undesirable re-build or even be stolen. On the buyer’s side,
the buyer could never re-register the car, which could result in continuous taxes for the original seller.
Solution:
Vehicle Wallet is a partnership between payment service provider and the Danish Tax Administration. It is a supply chain
management tool where data concerning the car is saved in one distributed ledger and creates one agreed and shared
record of the vehicle history as it is transferred across the supply chain. This reduces risks for buyers and sellers, and
helps ensure Denmark receives all proper taxes.
Blockchain in the Public Sector
Example 2: BenBen (Ghana)
Problem:
For land property, Ghana lacked a systemic way to determining the legal existence of parcels and to track land
ownership titles. This prevented authorities and property owners from having clear certainty and visibility over what
belongs to whom, resulting in regular disputes. In addition, because previous processes were on paper, it could take
over a year to register the sale/purchase of a property, which was a fraud risk for both sellers and buyers.
Solution:
BenBen provides an Ethereum-run digital register system of all land registries across Ghana. It is able to certify land
information through the cross-cutting of satellite imagery and on-the-ground verifications, working hand-in-hand with
local stakeholders in the land market. It aggregates all the information such that financial institutions and the Lands
Commission have real-time access to the data. Property transaction times have been reduced by 75% and court
disputes have been reduced.
Blockchain in the Public Sector
Example 2: Project Ubin (Singapore)
Problem:
The Monetary Authority of Singapore (MAS) conducted a study that found that Inter-bank payments within Singapore
and cross-border financial transactions were inefficient and slow.
Solution:
MAS partnered with R3– a consortium of banks and regulators to create a prototype for a Blockchain-based digital
Singaporean dollar to facilitate digital transactions. This would allow for incorruptibility of records through a
decentralised trust system, but also 24 hour processing with no centralised – i.e. human-based – checks required. The
partnership has successfully developed software prototypes of three different models for decentralised inter-bank
payment that are now being explored. MAS has published the source code as open source software on GitHub.
Where Government can adopt Blockchain Technology?
Malaysia Blockchain Ecosystem
USE CASES IN MALAYSIA
CHALLENGES AND LIMITATIONS
Blockchain in the Public Sector
Challenges & Limitations
Blockchain is not a cure-all
01
IMMUTABILITY
A Blockchain is an add-only list. Once data is
added, it can’t be removed. Perhaps not a good
fit when updating/deleting data is a regular
occurrence.
02
DATA STORAGE
Databases are often used to store large amounts
of data (images, docs, apps, etc.). However,
Blockchain is designed for small pockets of data.
If data storage is needed, Blockchain may not be
a good fit, or a hybrid solution may ne needed.
03
TALKING ABOUT BLOCKCHAIN
The act of explaining blockchain to public
officials and civil servants is difficult. De-linking
blockchain from Bitcoin and discussing how it
can improve efficiency and strengthen mission
effectiveness can help.
04
COSTS
Higher short-term costs associated with a still-emerging
technology prevent its widespread use. Blockchain-as-
a-service products are starting to be offered that can
allow for experimentation.
05
BLOCKERS
People often flag issues such as energy consumption
and scalability as Blockchain blockers. However, many
of these are irrelevant to government Blockchain
implementations (i.e., only apply to Proof of Work
consensus on permissionless/pubic blockchains).
06
CODING & GOVERNANCE MODELS
Blockchains are known for eliminating the need for central
authority, but this is not entirely true. They must be coded
and governed by those entrusted with key roles.
Governments must build a technical knowledge base to
ensure these decisions are made well (even if the actual
coding is outsourced).
WHAT’S NEXT?
A few things that will need to come first:
1. harmonized frameworks,
2. education within industries,
3. collaboration across industries,
4. and proving the public benefit.
Feasibilities Study of Blockchain Ecosystem in Malaysia Government
Feasibilities Study of Blockchain Ecosystem in Malaysia Government
Feasibilities Study of Blockchain Ecosystem in Malaysia Government
Feasibilities Study of Blockchain Ecosystem in Malaysia Government
Feasibilities Study of Blockchain Ecosystem in Malaysia Government
Feasibilities Study of Blockchain Ecosystem in Malaysia Government

More Related Content

What's hot

Regulation in the Digital Era? Some thoughts on the Blockchain | Marta Ghigli...
Regulation in the Digital Era? Some thoughts on the Blockchain | Marta Ghigli...Regulation in the Digital Era? Some thoughts on the Blockchain | Marta Ghigli...
Regulation in the Digital Era? Some thoughts on the Blockchain | Marta Ghigli...Codemotion
 
7 Industries Influencing Blockchain Testing
7 Industries Influencing Blockchain Testing7 Industries Influencing Blockchain Testing
7 Industries Influencing Blockchain TestingCygnet Infotech
 
Codemotion Milano 2014 - MongoDB and the Internet of Things
Codemotion Milano 2014 - MongoDB and the Internet of ThingsCodemotion Milano 2014 - MongoDB and the Internet of Things
Codemotion Milano 2014 - MongoDB and the Internet of ThingsMassimo Brignoli
 
Mobile talks where emerging tech meets government blockchain&ai - chris...
Mobile talks   where emerging tech meets government blockchain&ai - chris...Mobile talks   where emerging tech meets government blockchain&ai - chris...
Mobile talks where emerging tech meets government blockchain&ai - chris...Christina Patsioura
 
P9 blockchain technology in healthcare
P9 blockchain technology in healthcareP9 blockchain technology in healthcare
P9 blockchain technology in healthcaredevid8
 
Blockchain and Fintech in Melbourne Australia
Blockchain and Fintech in Melbourne AustraliaBlockchain and Fintech in Melbourne Australia
Blockchain and Fintech in Melbourne AustraliaSusan Dart
 
How will blockchain change the economy
How will blockchain change the economyHow will blockchain change the economy
How will blockchain change the economyBlockchain Council
 
Introduction to blockchain & cryptocurrencies
Introduction to blockchain & cryptocurrenciesIntroduction to blockchain & cryptocurrencies
Introduction to blockchain & cryptocurrenciesAurobindo Nayak
 
A quick overview about ai enabled blockchain
A quick overview about ai enabled blockchainA quick overview about ai enabled blockchain
A quick overview about ai enabled blockchainBlockchain Council
 
The Road to Mass Adoption | Audrey Chaing | Blockchain Conf
The Road to Mass Adoption | Audrey Chaing | Blockchain ConfThe Road to Mass Adoption | Audrey Chaing | Blockchain Conf
The Road to Mass Adoption | Audrey Chaing | Blockchain ConfCodemotion
 
S5: SEC | "Tokenization ทางเลือกใหม่ในยุคดิจิทัล" (8 Feb 2021)
S5: SEC | "Tokenization ทางเลือกใหม่ในยุคดิจิทัล" (8 Feb 2021)S5: SEC | "Tokenization ทางเลือกใหม่ในยุคดิจิทัล" (8 Feb 2021)
S5: SEC | "Tokenization ทางเลือกใหม่ในยุคดิจิทัล" (8 Feb 2021)Kullarat Phongsathaporn
 
Blockchain Trends & Business Cases
Blockchain Trends & Business CasesBlockchain Trends & Business Cases
Blockchain Trends & Business CasesSlava Buga
 
170720 chainstep meetp_next_bigthing
170720 chainstep meetp_next_bigthing170720 chainstep meetp_next_bigthing
170720 chainstep meetp_next_bigthingFrank Bolten
 
Blockchain and international trade, trade finance, and supply chain (1)
Blockchain and international trade, trade finance, and supply chain (1)Blockchain and international trade, trade finance, and supply chain (1)
Blockchain and international trade, trade finance, and supply chain (1)Sunny Sian
 
Jp morgan blockchain bitcoin
Jp morgan blockchain bitcoinJp morgan blockchain bitcoin
Jp morgan blockchain bitcoinRein Mahatma
 
Industrializing Blockchain in ASEAN
Industrializing Blockchain in ASEANIndustrializing Blockchain in ASEAN
Industrializing Blockchain in ASEANVarun Mittal
 
Industrializing Blockchain in ASEAN
Industrializing Blockchain in ASEANIndustrializing Blockchain in ASEAN
Industrializing Blockchain in ASEANVarun Mittal
 

What's hot (19)

Regulation in the Digital Era? Some thoughts on the Blockchain | Marta Ghigli...
Regulation in the Digital Era? Some thoughts on the Blockchain | Marta Ghigli...Regulation in the Digital Era? Some thoughts on the Blockchain | Marta Ghigli...
Regulation in the Digital Era? Some thoughts on the Blockchain | Marta Ghigli...
 
7 Industries Influencing Blockchain Testing
7 Industries Influencing Blockchain Testing7 Industries Influencing Blockchain Testing
7 Industries Influencing Blockchain Testing
 
Blockchain solutions forum and crypto-economy
Blockchain solutions forum and crypto-economyBlockchain solutions forum and crypto-economy
Blockchain solutions forum and crypto-economy
 
Codemotion Milano 2014 - MongoDB and the Internet of Things
Codemotion Milano 2014 - MongoDB and the Internet of ThingsCodemotion Milano 2014 - MongoDB and the Internet of Things
Codemotion Milano 2014 - MongoDB and the Internet of Things
 
Mobile talks where emerging tech meets government blockchain&ai - chris...
Mobile talks   where emerging tech meets government blockchain&ai - chris...Mobile talks   where emerging tech meets government blockchain&ai - chris...
Mobile talks where emerging tech meets government blockchain&ai - chris...
 
P9 blockchain technology in healthcare
P9 blockchain technology in healthcareP9 blockchain technology in healthcare
P9 blockchain technology in healthcare
 
Blockchain and Fintech in Melbourne Australia
Blockchain and Fintech in Melbourne AustraliaBlockchain and Fintech in Melbourne Australia
Blockchain and Fintech in Melbourne Australia
 
How will blockchain change the economy
How will blockchain change the economyHow will blockchain change the economy
How will blockchain change the economy
 
Introduction to blockchain & cryptocurrencies
Introduction to blockchain & cryptocurrenciesIntroduction to blockchain & cryptocurrencies
Introduction to blockchain & cryptocurrencies
 
A quick overview about ai enabled blockchain
A quick overview about ai enabled blockchainA quick overview about ai enabled blockchain
A quick overview about ai enabled blockchain
 
The Road to Mass Adoption | Audrey Chaing | Blockchain Conf
The Road to Mass Adoption | Audrey Chaing | Blockchain ConfThe Road to Mass Adoption | Audrey Chaing | Blockchain Conf
The Road to Mass Adoption | Audrey Chaing | Blockchain Conf
 
S5: SEC | "Tokenization ทางเลือกใหม่ในยุคดิจิทัล" (8 Feb 2021)
S5: SEC | "Tokenization ทางเลือกใหม่ในยุคดิจิทัล" (8 Feb 2021)S5: SEC | "Tokenization ทางเลือกใหม่ในยุคดิจิทัล" (8 Feb 2021)
S5: SEC | "Tokenization ทางเลือกใหม่ในยุคดิจิทัล" (8 Feb 2021)
 
Blockchain for Insurance
Blockchain for InsuranceBlockchain for Insurance
Blockchain for Insurance
 
Blockchain Trends & Business Cases
Blockchain Trends & Business CasesBlockchain Trends & Business Cases
Blockchain Trends & Business Cases
 
170720 chainstep meetp_next_bigthing
170720 chainstep meetp_next_bigthing170720 chainstep meetp_next_bigthing
170720 chainstep meetp_next_bigthing
 
Blockchain and international trade, trade finance, and supply chain (1)
Blockchain and international trade, trade finance, and supply chain (1)Blockchain and international trade, trade finance, and supply chain (1)
Blockchain and international trade, trade finance, and supply chain (1)
 
Jp morgan blockchain bitcoin
Jp morgan blockchain bitcoinJp morgan blockchain bitcoin
Jp morgan blockchain bitcoin
 
Industrializing Blockchain in ASEAN
Industrializing Blockchain in ASEANIndustrializing Blockchain in ASEAN
Industrializing Blockchain in ASEAN
 
Industrializing Blockchain in ASEAN
Industrializing Blockchain in ASEANIndustrializing Blockchain in ASEAN
Industrializing Blockchain in ASEAN
 

Similar to Feasibilities Study of Blockchain Ecosystem in Malaysia Government

Feasibilities Study of Blockchain Ecosystem in Asia Region
Feasibilities Study of Blockchain Ecosystem in Asia RegionFeasibilities Study of Blockchain Ecosystem in Asia Region
Feasibilities Study of Blockchain Ecosystem in Asia RegionEffendy Zulkifly
 
Feasibilities Study Asia for BCCONF PDF
Feasibilities Study Asia for BCCONF PDFFeasibilities Study Asia for BCCONF PDF
Feasibilities Study Asia for BCCONF PDFEffendy Zulkifly
 
Abcd is changing the world!
Abcd is changing the world!Abcd is changing the world!
Abcd is changing the world!Effendy Zulkifly
 
Industrializing Blockchain in ASEAN
Industrializing Blockchain in ASEANIndustrializing Blockchain in ASEAN
Industrializing Blockchain in ASEANSahil Gupta
 
How Blockchain App Development is Paving the Way for the Future
How Blockchain App Development is Paving the Way for the FutureHow Blockchain App Development is Paving the Way for the Future
How Blockchain App Development is Paving the Way for the FutureDamco Solutions
 
The Blockchain Imperative: The Next Challenge for P&C Carriers
The Blockchain Imperative: The Next Challenge for P&C CarriersThe Blockchain Imperative: The Next Challenge for P&C Carriers
The Blockchain Imperative: The Next Challenge for P&C CarriersCognizant
 
Blockchain Transforming the Banking Sector
Blockchain Transforming the Banking SectorBlockchain Transforming the Banking Sector
Blockchain Transforming the Banking SectorMinddeft Technologies
 
B17: U.S. Chamber of Commerce, the Thai Chamber of Commerce, and AmCham Thail...
B17: U.S. Chamber of Commerce, the Thai Chamber of Commerce, and AmCham Thail...B17: U.S. Chamber of Commerce, the Thai Chamber of Commerce, and AmCham Thail...
B17: U.S. Chamber of Commerce, the Thai Chamber of Commerce, and AmCham Thail...Kullarat Phongsathaporn
 
How blockchain can fix tax issues
How blockchain can fix tax issuesHow blockchain can fix tax issues
How blockchain can fix tax issuesBlockchain Council
 
Seratio whitepaper educational passport distributed learning ledger (30 april...
Seratio whitepaper educational passport distributed learning ledger (30 april...Seratio whitepaper educational passport distributed learning ledger (30 april...
Seratio whitepaper educational passport distributed learning ledger (30 april...Sajin Abdu
 
Blockchain Beyond the Hype A Practical Framework for Business Leaders
Blockchain Beyond the Hype A Practical Framework for Business LeadersBlockchain Beyond the Hype A Practical Framework for Business Leaders
Blockchain Beyond the Hype A Practical Framework for Business Leaderseraser Juan José Calderón
 
Blockchain Disruption: How Is It Going To Affect Your Industry?
Blockchain Disruption: How Is It Going To Affect Your Industry?Blockchain Disruption: How Is It Going To Affect Your Industry?
Blockchain Disruption: How Is It Going To Affect Your Industry?Pixel Crayons
 
Blockchain use cases in 2022 real world industry applications
Blockchain use cases in 2022 real world industry applicationsBlockchain use cases in 2022 real world industry applications
Blockchain use cases in 2022 real world industry applicationsArpitGautam20
 
2018 Washington State Government discussion: Blockchain - International compe...
2018 Washington State Government discussion: Blockchain - International compe...2018 Washington State Government discussion: Blockchain - International compe...
2018 Washington State Government discussion: Blockchain - International compe...Mark Mueller-Eberstein
 
Blockchain - Deep Dive
Blockchain - Deep DiveBlockchain - Deep Dive
Blockchain - Deep DiveVinod Mehra
 
8 Decimal Capital Enterprise Solution Overview
8 Decimal Capital Enterprise Solution Overview8 Decimal Capital Enterprise Solution Overview
8 Decimal Capital Enterprise Solution OverviewRemi Gai
 
Blockchain and its Applications in the Finance Industry
Blockchain and its Applications in the Finance Industry Blockchain and its Applications in the Finance Industry
Blockchain and its Applications in the Finance Industry milemadinah
 
IRJET-Overview of Blockchain Technology in Government/Public Sectors
IRJET-Overview of Blockchain Technology in Government/Public SectorsIRJET-Overview of Blockchain Technology in Government/Public Sectors
IRJET-Overview of Blockchain Technology in Government/Public SectorsIRJET Journal
 
Industralisation of Distributed Ledger Technology
Industralisation of Distributed Ledger TechnologyIndustralisation of Distributed Ledger Technology
Industralisation of Distributed Ledger TechnologyRodger Oates
 

Similar to Feasibilities Study of Blockchain Ecosystem in Malaysia Government (20)

Feasibilities Study of Blockchain Ecosystem in Asia Region
Feasibilities Study of Blockchain Ecosystem in Asia RegionFeasibilities Study of Blockchain Ecosystem in Asia Region
Feasibilities Study of Blockchain Ecosystem in Asia Region
 
Feasibilities Study Asia for BCCONF PDF
Feasibilities Study Asia for BCCONF PDFFeasibilities Study Asia for BCCONF PDF
Feasibilities Study Asia for BCCONF PDF
 
Abcd is changing the world!
Abcd is changing the world!Abcd is changing the world!
Abcd is changing the world!
 
Industrializing Blockchain in ASEAN
Industrializing Blockchain in ASEANIndustrializing Blockchain in ASEAN
Industrializing Blockchain in ASEAN
 
How Blockchain App Development is Paving the Way for the Future
How Blockchain App Development is Paving the Way for the FutureHow Blockchain App Development is Paving the Way for the Future
How Blockchain App Development is Paving the Way for the Future
 
MTBiz July 2019
MTBiz July 2019MTBiz July 2019
MTBiz July 2019
 
The Blockchain Imperative: The Next Challenge for P&C Carriers
The Blockchain Imperative: The Next Challenge for P&C CarriersThe Blockchain Imperative: The Next Challenge for P&C Carriers
The Blockchain Imperative: The Next Challenge for P&C Carriers
 
Blockchain Transforming the Banking Sector
Blockchain Transforming the Banking SectorBlockchain Transforming the Banking Sector
Blockchain Transforming the Banking Sector
 
B17: U.S. Chamber of Commerce, the Thai Chamber of Commerce, and AmCham Thail...
B17: U.S. Chamber of Commerce, the Thai Chamber of Commerce, and AmCham Thail...B17: U.S. Chamber of Commerce, the Thai Chamber of Commerce, and AmCham Thail...
B17: U.S. Chamber of Commerce, the Thai Chamber of Commerce, and AmCham Thail...
 
How blockchain can fix tax issues
How blockchain can fix tax issuesHow blockchain can fix tax issues
How blockchain can fix tax issues
 
Seratio whitepaper educational passport distributed learning ledger (30 april...
Seratio whitepaper educational passport distributed learning ledger (30 april...Seratio whitepaper educational passport distributed learning ledger (30 april...
Seratio whitepaper educational passport distributed learning ledger (30 april...
 
Blockchain Beyond the Hype A Practical Framework for Business Leaders
Blockchain Beyond the Hype A Practical Framework for Business LeadersBlockchain Beyond the Hype A Practical Framework for Business Leaders
Blockchain Beyond the Hype A Practical Framework for Business Leaders
 
Blockchain Disruption: How Is It Going To Affect Your Industry?
Blockchain Disruption: How Is It Going To Affect Your Industry?Blockchain Disruption: How Is It Going To Affect Your Industry?
Blockchain Disruption: How Is It Going To Affect Your Industry?
 
Blockchain use cases in 2022 real world industry applications
Blockchain use cases in 2022 real world industry applicationsBlockchain use cases in 2022 real world industry applications
Blockchain use cases in 2022 real world industry applications
 
2018 Washington State Government discussion: Blockchain - International compe...
2018 Washington State Government discussion: Blockchain - International compe...2018 Washington State Government discussion: Blockchain - International compe...
2018 Washington State Government discussion: Blockchain - International compe...
 
Blockchain - Deep Dive
Blockchain - Deep DiveBlockchain - Deep Dive
Blockchain - Deep Dive
 
8 Decimal Capital Enterprise Solution Overview
8 Decimal Capital Enterprise Solution Overview8 Decimal Capital Enterprise Solution Overview
8 Decimal Capital Enterprise Solution Overview
 
Blockchain and its Applications in the Finance Industry
Blockchain and its Applications in the Finance Industry Blockchain and its Applications in the Finance Industry
Blockchain and its Applications in the Finance Industry
 
IRJET-Overview of Blockchain Technology in Government/Public Sectors
IRJET-Overview of Blockchain Technology in Government/Public SectorsIRJET-Overview of Blockchain Technology in Government/Public Sectors
IRJET-Overview of Blockchain Technology in Government/Public Sectors
 
Industralisation of Distributed Ledger Technology
Industralisation of Distributed Ledger TechnologyIndustralisation of Distributed Ledger Technology
Industralisation of Distributed Ledger Technology
 

More from Effendy Zulkifly

Blockchain, IoT and Smart Cities, What's In It for Automotive Industry?
Blockchain, IoT and Smart Cities, What's In It for Automotive Industry?Blockchain, IoT and Smart Cities, What's In It for Automotive Industry?
Blockchain, IoT and Smart Cities, What's In It for Automotive Industry?Effendy Zulkifly
 
Presentation for APICTA 2018 - EFINITY SOCIAL ENTERPRISE
Presentation for APICTA 2018 - EFINITY SOCIAL ENTERPRISEPresentation for APICTA 2018 - EFINITY SOCIAL ENTERPRISE
Presentation for APICTA 2018 - EFINITY SOCIAL ENTERPRISEEffendy Zulkifly
 
Effendy's latest resume 2018
Effendy's latest resume 2018 Effendy's latest resume 2018
Effendy's latest resume 2018 Effendy Zulkifly
 
Blockchain for law & legislation
Blockchain for law & legislationBlockchain for law & legislation
Blockchain for law & legislationEffendy Zulkifly
 
Blockchain Academy Asia Company Profile
Blockchain Academy Asia Company ProfileBlockchain Academy Asia Company Profile
Blockchain Academy Asia Company ProfileEffendy Zulkifly
 
Blockchain & Education Ecosystem
Blockchain & Education EcosystemBlockchain & Education Ecosystem
Blockchain & Education EcosystemEffendy Zulkifly
 

More from Effendy Zulkifly (8)

Blockchain, IoT and Smart Cities, What's In It for Automotive Industry?
Blockchain, IoT and Smart Cities, What's In It for Automotive Industry?Blockchain, IoT and Smart Cities, What's In It for Automotive Industry?
Blockchain, IoT and Smart Cities, What's In It for Automotive Industry?
 
Future Summit 2019
Future Summit 2019 Future Summit 2019
Future Summit 2019
 
Presentation for APICTA 2018 - EFINITY SOCIAL ENTERPRISE
Presentation for APICTA 2018 - EFINITY SOCIAL ENTERPRISEPresentation for APICTA 2018 - EFINITY SOCIAL ENTERPRISE
Presentation for APICTA 2018 - EFINITY SOCIAL ENTERPRISE
 
Effendy's latest resume 2018
Effendy's latest resume 2018 Effendy's latest resume 2018
Effendy's latest resume 2018
 
Sophia tx whitepaper_v1.9
Sophia tx whitepaper_v1.9Sophia tx whitepaper_v1.9
Sophia tx whitepaper_v1.9
 
Blockchain for law & legislation
Blockchain for law & legislationBlockchain for law & legislation
Blockchain for law & legislation
 
Blockchain Academy Asia Company Profile
Blockchain Academy Asia Company ProfileBlockchain Academy Asia Company Profile
Blockchain Academy Asia Company Profile
 
Blockchain & Education Ecosystem
Blockchain & Education EcosystemBlockchain & Education Ecosystem
Blockchain & Education Ecosystem
 

Recently uploaded

Elderly Persons Midday Meal Program kurnool
Elderly Persons Midday Meal Program kurnoolElderly Persons Midday Meal Program kurnool
Elderly Persons Midday Meal Program kurnoolSERUDS INDIA
 
International Tea Day 2024; May 21st - United Nations.
International Tea Day 2024; May 21st - United Nations.International Tea Day 2024; May 21st - United Nations.
International Tea Day 2024; May 21st - United Nations.Christina Parmionova
 
Advancing Impact Measurement | Public Good App House
Advancing Impact Measurement | Public Good App HouseAdvancing Impact Measurement | Public Good App House
Advancing Impact Measurement | Public Good App HouseTechSoup
 
一比一原版(UWA毕业证)西澳大学毕业证成绩单
一比一原版(UWA毕业证)西澳大学毕业证成绩单一比一原版(UWA毕业证)西澳大学毕业证成绩单
一比一原版(UWA毕业证)西澳大学毕业证成绩单enbam
 
#Bepartoftheplan on International Day For Biological Diversity 2024
#Bepartoftheplan on International Day For Biological Diversity 2024#Bepartoftheplan on International Day For Biological Diversity 2024
#Bepartoftheplan on International Day For Biological Diversity 2024Christina Parmionova
 
一比一原版(MQU毕业证)麦考瑞大学毕业证成绩单
一比一原版(MQU毕业证)麦考瑞大学毕业证成绩单一比一原版(MQU毕业证)麦考瑞大学毕业证成绩单
一比一原版(MQU毕业证)麦考瑞大学毕业证成绩单enbam
 
一比一原版(QUT毕业证)昆士兰科技大学毕业证成绩单
一比一原版(QUT毕业证)昆士兰科技大学毕业证成绩单一比一原版(QUT毕业证)昆士兰科技大学毕业证成绩单
一比一原版(QUT毕业证)昆士兰科技大学毕业证成绩单aveka1
 
一比一原版(Monash毕业证)莫纳什大学毕业证成绩单
一比一原版(Monash毕业证)莫纳什大学毕业证成绩单一比一原版(Monash毕业证)莫纳什大学毕业证成绩单
一比一原版(Monash毕业证)莫纳什大学毕业证成绩单enbam
 
Low Atmospheric Pressure Stunning is not a humane alternative to Carbon Dioxi...
Low Atmospheric Pressure Stunning is not a humane alternative to Carbon Dioxi...Low Atmospheric Pressure Stunning is not a humane alternative to Carbon Dioxi...
Low Atmospheric Pressure Stunning is not a humane alternative to Carbon Dioxi...Harm Kiezebrink
 
一比一原版(GU毕业证)格里菲斯大学毕业证成绩单
一比一原版(GU毕业证)格里菲斯大学毕业证成绩单一比一原版(GU毕业证)格里菲斯大学毕业证成绩单
一比一原版(GU毕业证)格里菲斯大学毕业证成绩单enbam
 
The MEL Toolkit Launch Webinar Presentation
The MEL Toolkit Launch Webinar PresentationThe MEL Toolkit Launch Webinar Presentation
The MEL Toolkit Launch Webinar PresentationNAP Global Network
 
一比一原版(SUT毕业证)斯威本科技大学毕业证成绩单
一比一原版(SUT毕业证)斯威本科技大学毕业证成绩单一比一原版(SUT毕业证)斯威本科技大学毕业证成绩单
一比一原版(SUT毕业证)斯威本科技大学毕业证成绩单aveka1
 
Sponsoring a Girl Child's Education in kurnool
Sponsoring a Girl Child's Education in kurnoolSponsoring a Girl Child's Education in kurnool
Sponsoring a Girl Child's Education in kurnoolSERUDS INDIA
 
Program Kickoff- Cohort......_4 (1).pptx
Program Kickoff- Cohort......_4 (1).pptxProgram Kickoff- Cohort......_4 (1).pptx
Program Kickoff- Cohort......_4 (1).pptxScottMeyers35
 
Minority economic forum Executive Summary
Minority economic forum Executive SummaryMinority economic forum Executive Summary
Minority economic forum Executive SummaryRDE GROUP CORP
 
30052024_FI_Ministry of Agriculture final.pptx
30052024_FI_Ministry of Agriculture final.pptx30052024_FI_Ministry of Agriculture final.pptx
30052024_FI_Ministry of Agriculture final.pptxElina461731
 
一比一原版(UOW毕业证)伍伦贡大学毕业证成绩单
一比一原版(UOW毕业证)伍伦贡大学毕业证成绩单一比一原版(UOW毕业证)伍伦贡大学毕业证成绩单
一比一原版(UOW毕业证)伍伦贡大学毕业证成绩单enbam
 
OilChange: Big Oil Reality Check May 2024
OilChange: Big Oil Reality Check May 2024OilChange: Big Oil Reality Check May 2024
OilChange: Big Oil Reality Check May 2024Energy for One World
 
一比一原版(UoB毕业证)伯明翰大学毕业证成绩单
一比一原版(UoB毕业证)伯明翰大学毕业证成绩单一比一原版(UoB毕业证)伯明翰大学毕业证成绩单
一比一原版(UoB毕业证)伯明翰大学毕业证成绩单ygymyy
 
CrossWalksInspirations for Brockville***
CrossWalksInspirations for Brockville***CrossWalksInspirations for Brockville***
CrossWalksInspirations for Brockville***Stephen Abram
 

Recently uploaded (20)

Elderly Persons Midday Meal Program kurnool
Elderly Persons Midday Meal Program kurnoolElderly Persons Midday Meal Program kurnool
Elderly Persons Midday Meal Program kurnool
 
International Tea Day 2024; May 21st - United Nations.
International Tea Day 2024; May 21st - United Nations.International Tea Day 2024; May 21st - United Nations.
International Tea Day 2024; May 21st - United Nations.
 
Advancing Impact Measurement | Public Good App House
Advancing Impact Measurement | Public Good App HouseAdvancing Impact Measurement | Public Good App House
Advancing Impact Measurement | Public Good App House
 
一比一原版(UWA毕业证)西澳大学毕业证成绩单
一比一原版(UWA毕业证)西澳大学毕业证成绩单一比一原版(UWA毕业证)西澳大学毕业证成绩单
一比一原版(UWA毕业证)西澳大学毕业证成绩单
 
#Bepartoftheplan on International Day For Biological Diversity 2024
#Bepartoftheplan on International Day For Biological Diversity 2024#Bepartoftheplan on International Day For Biological Diversity 2024
#Bepartoftheplan on International Day For Biological Diversity 2024
 
一比一原版(MQU毕业证)麦考瑞大学毕业证成绩单
一比一原版(MQU毕业证)麦考瑞大学毕业证成绩单一比一原版(MQU毕业证)麦考瑞大学毕业证成绩单
一比一原版(MQU毕业证)麦考瑞大学毕业证成绩单
 
一比一原版(QUT毕业证)昆士兰科技大学毕业证成绩单
一比一原版(QUT毕业证)昆士兰科技大学毕业证成绩单一比一原版(QUT毕业证)昆士兰科技大学毕业证成绩单
一比一原版(QUT毕业证)昆士兰科技大学毕业证成绩单
 
一比一原版(Monash毕业证)莫纳什大学毕业证成绩单
一比一原版(Monash毕业证)莫纳什大学毕业证成绩单一比一原版(Monash毕业证)莫纳什大学毕业证成绩单
一比一原版(Monash毕业证)莫纳什大学毕业证成绩单
 
Low Atmospheric Pressure Stunning is not a humane alternative to Carbon Dioxi...
Low Atmospheric Pressure Stunning is not a humane alternative to Carbon Dioxi...Low Atmospheric Pressure Stunning is not a humane alternative to Carbon Dioxi...
Low Atmospheric Pressure Stunning is not a humane alternative to Carbon Dioxi...
 
一比一原版(GU毕业证)格里菲斯大学毕业证成绩单
一比一原版(GU毕业证)格里菲斯大学毕业证成绩单一比一原版(GU毕业证)格里菲斯大学毕业证成绩单
一比一原版(GU毕业证)格里菲斯大学毕业证成绩单
 
The MEL Toolkit Launch Webinar Presentation
The MEL Toolkit Launch Webinar PresentationThe MEL Toolkit Launch Webinar Presentation
The MEL Toolkit Launch Webinar Presentation
 
一比一原版(SUT毕业证)斯威本科技大学毕业证成绩单
一比一原版(SUT毕业证)斯威本科技大学毕业证成绩单一比一原版(SUT毕业证)斯威本科技大学毕业证成绩单
一比一原版(SUT毕业证)斯威本科技大学毕业证成绩单
 
Sponsoring a Girl Child's Education in kurnool
Sponsoring a Girl Child's Education in kurnoolSponsoring a Girl Child's Education in kurnool
Sponsoring a Girl Child's Education in kurnool
 
Program Kickoff- Cohort......_4 (1).pptx
Program Kickoff- Cohort......_4 (1).pptxProgram Kickoff- Cohort......_4 (1).pptx
Program Kickoff- Cohort......_4 (1).pptx
 
Minority economic forum Executive Summary
Minority economic forum Executive SummaryMinority economic forum Executive Summary
Minority economic forum Executive Summary
 
30052024_FI_Ministry of Agriculture final.pptx
30052024_FI_Ministry of Agriculture final.pptx30052024_FI_Ministry of Agriculture final.pptx
30052024_FI_Ministry of Agriculture final.pptx
 
一比一原版(UOW毕业证)伍伦贡大学毕业证成绩单
一比一原版(UOW毕业证)伍伦贡大学毕业证成绩单一比一原版(UOW毕业证)伍伦贡大学毕业证成绩单
一比一原版(UOW毕业证)伍伦贡大学毕业证成绩单
 
OilChange: Big Oil Reality Check May 2024
OilChange: Big Oil Reality Check May 2024OilChange: Big Oil Reality Check May 2024
OilChange: Big Oil Reality Check May 2024
 
一比一原版(UoB毕业证)伯明翰大学毕业证成绩单
一比一原版(UoB毕业证)伯明翰大学毕业证成绩单一比一原版(UoB毕业证)伯明翰大学毕业证成绩单
一比一原版(UoB毕业证)伯明翰大学毕业证成绩单
 
CrossWalksInspirations for Brockville***
CrossWalksInspirations for Brockville***CrossWalksInspirations for Brockville***
CrossWalksInspirations for Brockville***
 

Feasibilities Study of Blockchain Ecosystem in Malaysia Government

  • 1. Feasibilities Study of Blockchain Ecosystem in Malaysia Government BY EFFENDY ZULKIFLY BLOCKCHAIN TECHNOLOGY EVANGELIST
  • 2. CONTENTS 1. My Involvement in Blockchain Word 2. Government & Corporate Issues 3. Malaysia Blockchain Ecosystem 4. Use Cases in Malaysia 5. Challenges & Limitations 6. What’s Next! 7. Conclusion
  • 3. My Involvement in Blockchain World • CEO of Blockchain Academy Asia • Co-Founder of Crypto Valley Malaysia • Founder of Blockchain Research Centre Malaysia
  • 5. With VVIP in Blockchain Ecosystem
  • 6. With TRESCON GLOBAL in World Blockchain Summit 2017
  • 7. Blockchain R&D Journey R&D Journey : My involvement in Worldwide FinTech & Blockchain Events (Year 2016 & 2017) North American Bitcoin Conference, Miami, Jan 2016 Keynote World Blockchain Forum, Burj Al Dubai, March 2017 iFX Expo Asia Bitcoin Conference, HK, Feb 2017 10th China Forex Expo Shenzen China, Oct 2016 Keynote Blockchain Forum, Brussels, Nov 2016 Money, Blockchain Conference, London, Nov 2016 Singapore Fintech Festival, Nov 2016
  • 9. Blockchain in the Public Sector One year ago: 117 Initiatives in 26 Countries Source: Deloitte analysis in conjunction with the Fletcher School at Tufts University (March 2017)
  • 10. Blockchain in the Public Sector Now: 202 Blockchain Initiatives in 45 Countries Source: OECD analysis of data collected by The Illinois Blockchain Initiative (March 2018)
  • 11. Blockchain in the Public Sector Potential Use Cases Use Case Description Identity Establishing and maintaining identities for citizens and residents (birth certificates, marriage licenses, visas, death records). Personal records Interoperable health records, insurance records, etc. Land title registry Details and historic records related to real estate and property transactions. Supply chain management, inventorying Tracking an asset from its creation, transportation, purchase, and inventorying. Benefits, entitlements, and aid Social security, medical benefits payments, domestic and international aid. Anticipatory/automated payments could be automated through Smart Contracts. Contract and vendor management Tracking and paying vendors, managing purchase commitments and transactions, and monitoring schedule performance. Can allow for perfect transparency of government expenditures. Voting Enabling new methods of digital voting, ensuring eligibility, accurate counting, and auditing (e.g., to avoid ballot-rigging). Streamlining interagency processes Blockchains and smart contracts can automate transaction handling and improve information sharing – allows each agency to better focus on their own mission and tech without as much need to consider others tech.
  • 12. Blockchain in the Public Sector Top 10 types of projects Rank Types of projects (count)* 1 Strategy/Research (42) 2 Identity (Credentials/Licenses/Attestations) (25) 3 Personal Records (Health, Financial, etc.) (25) 4 Economic Development (24) 5 Financial Services/Market Infrastructure (20) 6 Land Title Registry (19) 7 Digital Currency (Central Bank Issued) (18) 8 Benefits/Entitlements (13) 9 Compliance/Reporting (12) 10 Research/Standards (12) Source: OECD analysis of data collected by The Illinois Blockchain Initiative (March 2018) *Initiatives may be tagged with more than one type of project.
  • 13. Blockchain in the Public Sector Cross-sector communities (public, private, civil society) learning about blockchain together and exploring the use and implications of Blockchains in government. For example, the U.S. Emerging Citizen Technology Office (ECTO) has been created to provide a common guidance and vision for emerging tech in the U.S. government and to share ideas and connect innovators. Bring in insights from other sectors. COMMUNITIES OF PRACTICE PUBLIC-PRIVATE PARTNERSHIPS (PPPs) Communities of Practice &Public-Private Partnerships Two of the fastest growing best practices COMMUNITIES OF PRACTICE Efforts to bring public agencies and private firms together in developing and implementing Blockchain systems. Often, private firms assist government agencies with the technological aspect of the work. For example, the ID2020 initiative (UN agencies, companies such as Microsoft Accenture) seeks to provide formal identities to the 1.1 billion individuals who lack one, including millions of refugees.
  • 14. Blockchain in the Public Sector Example 1: Vehicle Wallet (Denmark) Problem: During a car’s lifecycle it undergoes various phases and activities (tests, repair, loan, insurance and changes in ownership). When a car is sold from one person to another, there can be a lack of information from either the buyer or seller. On the seller’s side, the car could have undergone an undesirable re-build or even be stolen. On the buyer’s side, the buyer could never re-register the car, which could result in continuous taxes for the original seller. Solution: Vehicle Wallet is a partnership between payment service provider and the Danish Tax Administration. It is a supply chain management tool where data concerning the car is saved in one distributed ledger and creates one agreed and shared record of the vehicle history as it is transferred across the supply chain. This reduces risks for buyers and sellers, and helps ensure Denmark receives all proper taxes.
  • 15. Blockchain in the Public Sector Example 2: BenBen (Ghana) Problem: For land property, Ghana lacked a systemic way to determining the legal existence of parcels and to track land ownership titles. This prevented authorities and property owners from having clear certainty and visibility over what belongs to whom, resulting in regular disputes. In addition, because previous processes were on paper, it could take over a year to register the sale/purchase of a property, which was a fraud risk for both sellers and buyers. Solution: BenBen provides an Ethereum-run digital register system of all land registries across Ghana. It is able to certify land information through the cross-cutting of satellite imagery and on-the-ground verifications, working hand-in-hand with local stakeholders in the land market. It aggregates all the information such that financial institutions and the Lands Commission have real-time access to the data. Property transaction times have been reduced by 75% and court disputes have been reduced.
  • 16. Blockchain in the Public Sector Example 2: Project Ubin (Singapore) Problem: The Monetary Authority of Singapore (MAS) conducted a study that found that Inter-bank payments within Singapore and cross-border financial transactions were inefficient and slow. Solution: MAS partnered with R3– a consortium of banks and regulators to create a prototype for a Blockchain-based digital Singaporean dollar to facilitate digital transactions. This would allow for incorruptibility of records through a decentralised trust system, but also 24 hour processing with no centralised – i.e. human-based – checks required. The partnership has successfully developed software prototypes of three different models for decentralised inter-bank payment that are now being explored. MAS has published the source code as open source software on GitHub.
  • 17. Where Government can adopt Blockchain Technology?
  • 18.
  • 20.
  • 21.
  • 22. USE CASES IN MALAYSIA
  • 23.
  • 24.
  • 25.
  • 26.
  • 28. Blockchain in the Public Sector Challenges & Limitations Blockchain is not a cure-all 01 IMMUTABILITY A Blockchain is an add-only list. Once data is added, it can’t be removed. Perhaps not a good fit when updating/deleting data is a regular occurrence. 02 DATA STORAGE Databases are often used to store large amounts of data (images, docs, apps, etc.). However, Blockchain is designed for small pockets of data. If data storage is needed, Blockchain may not be a good fit, or a hybrid solution may ne needed. 03 TALKING ABOUT BLOCKCHAIN The act of explaining blockchain to public officials and civil servants is difficult. De-linking blockchain from Bitcoin and discussing how it can improve efficiency and strengthen mission effectiveness can help. 04 COSTS Higher short-term costs associated with a still-emerging technology prevent its widespread use. Blockchain-as- a-service products are starting to be offered that can allow for experimentation. 05 BLOCKERS People often flag issues such as energy consumption and scalability as Blockchain blockers. However, many of these are irrelevant to government Blockchain implementations (i.e., only apply to Proof of Work consensus on permissionless/pubic blockchains). 06 CODING & GOVERNANCE MODELS Blockchains are known for eliminating the need for central authority, but this is not entirely true. They must be coded and governed by those entrusted with key roles. Governments must build a technical knowledge base to ensure these decisions are made well (even if the actual coding is outsourced).
  • 29. WHAT’S NEXT? A few things that will need to come first: 1. harmonized frameworks, 2. education within industries, 3. collaboration across industries, 4. and proving the public benefit.