Masverse Unleashes MasChain, Redefining Digital Trust and Security with Blockchain Revolution

Masverse, a blockchain specialist company, introduces MasChain, a Proof of Authority (PoA) platform designed to enhance transaction security and trustworthiness. Leveraging the first PoA chain, MasChain democratizes blockchain technology through its token digitalization solutions, providing flexibility and stability with its Substrate core framework and pallets smart contracts. The launch has witnessed partnerships with GamBit Group and Intelligence Traceability, along with signing Memorandums of Understanding with various entities to explore Web3 development, halal compliance, and more.

Blockchain Revolution: Masverse Unveils MasChain to Enhance Digital Trust and Security

Kuala Lumpur, April 23, 2024 - Masverse Sdn. Bhd., a leading blockchain specialist company, today unveiled MasChain, a transformative platform that aims to revolutionize the digital ecosystem for governments, enterprises, and industries alike. MasChain leverages Proof of Authority (PoA) to enhance the security and trustworthiness of transactions, unlocking the full potential of blockchain applications.

Democratizing Blockchain for Governments and Industries

MasChain is the first PoA chain that aims to democratize blockchain technology by providing groundbreaking token digitalisation solutions across government and industry sectors. It empowers practitioners and users to protect their assets on the blockchain, unlocking the immense potential of blockchain applications.

The platform's flexibility and stability are ensured by the utilization of the Substrate core framework and pallets smart contracts as modular components. The PoA consensus mechanism enables network scalability, simplifying the entire process and paving the way for future blockchain applications.

Witnessing the Launch of a New Era

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

Strategic Partnerships for Enhanced Services

Masverse forged two Memorandums of Agreement (MoAs) with GamBit Group Sdn. Bhd. for enhanced custodian wallet services and Traceability Ecosystem and Intelligence Traceability Sdn. Bhd. for halal compliance and recycling product traceability services.

Additionally, the company signed five Memorandums of Understanding (MoUs) with various partners: Vero AI Sdn. Bhd. for establishing an 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. for tourism enhancement, Accelerator Resources Sdn. Bhd. for a membership program, and Asia Digital Bank Ltd for Web3 development across financial solutions in ASEAN and Islamic Union countries.

Masverse: A Leader in Digital Innovation

Headquartered in Malaysia, Masverse is at the forefront of digital innovation, developing a Layer 1 blockchain infrastructure and a Web3 ecosystem that bridges the gap between current technologies and a future where digital advancements are universally beneficial. MasChain caters to various needs and applications, ranging from financial technology (fintech), halal traceability, education, retail, supply chain management, digital identity, and beyond.

Empowering Governments and Businesses

MasChain is designed to empower governments and businesses with a robust blockchain solution, fostering blockchain use to be approachable and useful for everyone. Its certification platforms and Islamic Financial Solutions aim to empower individuals and businesses to thrive in the digital era.

Facilitating Blockchain Adoption

To facilitate blockchain adoption in the country, MasChain offers seamless integration and onboarding tailored to the client's use case. Powered by an Ethereum Virtual Machine (EVM) compatible chain and a versatile service layer API, the platform enables a wide range of services, including token management services, non-fungible tokens (NFTs), and audit trail services, all within a secure Blockchain-as-a-Service (BaaS) framework.

Enhancing Security and Reducing Complexity

MasChain provides governments and businesses with seamless integration, strengthening network security, and reducing the complexity of technological transformation. Key Islamic compliance is achieved with halal traceability and supply chain solutions, ensuring transparency in the transaction lineage.

"Today, we stand at the cusp of a new era, where the innovative use of public permissioned blockchain technology is poised to redefine the operational frameworks of enterprises and governments alike," said Lee Jie, Tech Lead of Masverse. "MasChain redefines the approach to identity verification, transaction security, and information storage, tailored to meet client-specific needs, thereby digitally transforming Malaysia's cyber landscape."

Endorsement from MDEC

Mr. Jothiprahasam of MDEC expressed his enthusiasm, stating that "The inception of MasChain is a testament to the innovative spirit that thrives within our nation and the broader digital ecosystem. At MDEC, we are deeply committed to nurturing and propelling Malaysia's digital economy, emphasizing inclusivity, sustainability, and growth. MasChain aligns perfectly with our mission, embodying the potential of technology to create not just economic value but societal progress as well."

"MasChain's approach, a public permissioned blockchain specifically tailored for enterprises and governments, marks a significant leap forward in how we envision the role of digital technologies in governance, commerce, and societal well-being," he added.

With its transformative capabilities, MasChain is poised to revolutionize the digital ecosystem by enhancing security, trustworthiness, and the democratization of blockchain technology. Its mission to empower governments, enterprises, and individuals alike in the digital era is a testament to Masverse's commitment to driving blockchain innovation and societal progress.