MIMOS Collaborates with Oracle to Leverage Blockchain Technology
for Greater Transparency And Trust
MIMOS Berhad, Malaysia’s National applied research and development centre under the Ministry of International Trade and Industry (MITI), today announced plans to expand its collaboration with Oracle to explore how the Government can utilise Blockchain to streamline various processes with the aim of improving the ease of doing business in Malaysia.
MIMOS had initially experimented with Open Source Hyperledger and had completed a proof of concept (POC) with respect to traceability of palm oil. Wanting to broaden its experimentation, MIMOS approached Oracle for use of the latter’s cloud-based Oracle Blockchain Platform. The resulting blockchain prototypes in development – in addition to product traceability, which explores how blockchain can help curb any potential food-related crises such as outbreaks and contamination by increasing the visibility and traceability of products in the supply chain – include cashless wallets, power distribution, and transaction origination.
MIMOS Chief Technology Officer Thillai Raj said: “As the nation’s rapid transformation journey advances further into the Fourth Industrial Revolution, blockchain technologies can help drive greater growth in various sectors, and serve as potent enablers for Industry4WRD (the National Policy on Industry 4.0). More specifically, we aim to drive change in the manufacturing sector by making the traceability process more transparent and immutable.”
Among the key features of the Oracle Blockchain Platform that drove its selection was its plug and play integration with existing business systems, which simplifies and shortens the set up processes and makes ongoing deployment easier. Also of key importance was the platform’s enterprise-grade architecture, which ensures the best security, scalability, and performance characteristics required for production use. Additionally, being delivered as an open platform, it gives MIMOS the potential to more easily connect into other systems or Oracle applications should the need arises, like Oracle ERP Cloud for supply chain purposes or Oracle’s Autonomous Database, to gain deeper analytics capabilities, to simplify reporting by creating interactive dashboards and reports.
The use of blockchain technology has been gaining traction in Malaysia. Malaysian Deputy Agriculture and Agro-based Industries Minister, Sim Tze Tzin recently stated that the government is looking into utilizing blockchain to track and control agricultural and Halal products at a recent international Halal expo held in Penang. Additionally, the Malaysian Industry-Government Group for High Technology (MIGHT) has been established to explore how the country can use emerging and new technologies like blockchain for progress and development.
Fitri Abdullah, Managing Director, Oracle Malaysia said, “Being one of the key contributors in raising Malaysia’s innovation competitiveness, MIMOS has been the pioneer in grooming technopreneurs through patentable technology platforms, products and solutions. Oracle is honoured to collaborate with MIMOS underpinning the future of blockchain development in Malaysia.”