Masverse Sdn. Bhd., a trailblazing blockchain specialist company, has unveiled MasChain, a revolutionary platform poised to transform the digital landscape for government, enterprises, and industries by elevating transaction security and trustworthiness through Proof of Authority (PoA).
MasChain leverages the first PoA chain to democratize blockchain technology, offering groundbreaking token digitalization solutions across government and industry sectors. Utilizing the Substrate core framework and pallets smart contracts as modular components, MasChain ensures flexibility and stability. With the PoA consensus mechanism, network scalability is achieved, simplifying processes and unlocking potential for future blockchain applications.
The launch event was attended by Mr. Danesh Jothiprahasam, Head of Domestic Digital Investment at Malaysia Digital Economy Corporation (MDEC), and Mr. Chew Kian Kok, Chief Executive Officer of Masverse.
Masverse solidified its commitment through two Memorandums of Agreement with GamBit Group Sdn. Bhd. for enhanced custodian wallet services and TCF ecosystem, and Intelligence Traceability Sdn. Bhd. for halal compliance and recycling product traceability services. Additionally, five Memorandums of Understanding were signed with various entities for initiatives ranging from establishing E-Halal Hub Ecosystem to smart farming and tourism enhancement.
Based in Malaysia, Masverse pioneers digital innovation, crafting a Layer 1 blockchain infrastructure and Web3 ecosystem to bridge current technologies with a future of universal digital advancement. MasChain caters to diverse needs across fintech, halal traceability, education, retail, supply chain management, digital identity, and more, empowering authorities and businesses with blockchain solutions.
MasChain offers meaningful integration and onboarding tailored to client use cases, powered by an Ethereum Virtual Machine (EVM) compatible chain and versatile service layer API. This approach enables services like token management, non-fungible token (NFT), and audit trail services within a secure Blockchain-as-a-Service (BaaS) framework, ensuring seamless integration and enhanced security.
Lee Jie, Masverse’s Tech Lead, emphasized MasChain’s potential to redefine operational frameworks for enterprises and governments, ushering in a new era of transaction security and information storage.
Jothiprahasam of MDEC lauded MasChain’s innovative spirit, aligning with Malaysia’s digital economy goals of inclusivity, sustainability, and growth, while advancing technology’s role in governance, commerce, and societal progress.
MasChain represents a significant leap forward in harnessing digital technologies for societal and economic advancement, embodying Malaysia’s commitment to digital transformation and innovation.