Chinese National Blockchain Xinghuo BIF Appoints MyEG to Own and Operate Xinghuo International Supernode to Connect Chinese Blockchain to Global Markets

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Cross-border services include decentralized identifiers (DIDs) to facilitate global trade and international finance

Shenzhen, China, November 17, 2022 /PRNewswire/ — China national blockchain, Xinghuo Blockchain Infrastructure and Facility (Xinghuo BIF) has signed an agreement with MY EG Services Bhd (MyEG) for MyEG to own and operate the Xinghuo International Supernode which will provide connectivity to the rest of the world during the China Internet Conference 2022 organized by China Ministry of Industry and Information Technology (MIIT) and Shenzhen Municipal People’s Government. The agreement also involves cross-border adoption and use of the latest Decentralized Identification (DID) standard to progressively create the Web3 of China and beyond.

Another milestone for China’s national blockchain, Xinghuo BIF and Zetrix by MyEG – Wong Thean Soon, Managing Director of MyEG and co-founder of Zetrix, believes that owning and operating Xinghuo’s first international supernode will allow MyEG to connect the rest of the world to be part of the evolution of China Web 3

Xinghuo BIF is a global blockchain infrastructure devoted to a trusted digital foundation for the world. So far, 7 Xinghuo BIF supernodes cover major areas of China and 29 main nodes provide services to a wider range of industries and cities. Xiamen and supernodes of Liuzhou, Jiaozhou (shandong) and Hengqin (Canton) backbone nodes enhance cross-border trade and provide international services abroad. International companies such as SAP and Siemens have partnered with Xinghuo to promote global innovative blockchain applications. Currently, Xinghuo BIF resolves approximately 100 million blockchain IDs per day, making it the most widely used blockchain platform in the world.

The international supernode will connect to MyEG’s authorized public Layer 1 blockchain, Zetrix, which is fully compatible with Xinghuo. This enables on-chain assets and transactions from the Zetrix network to transition seamlessly to Xinghuo, connecting governments, businesses and their citizens to a global blockchain-based economy.

Commenting on the partnership, Xiaohui YuCAICT Chairman said, “We should cooperate more in building a network of nodes, seize the opportunity presented by the next generation of the Internet, and empower industries with blockchain and other technologies, thereby providing a solid infrastructure and advancing innovative development”.

The agreement marks a significant milestone in Xinghuo BIF’s global expansion since the Memorandum of Understanding signed on 12e October 2021. The international supernode will connect to MyEG and develop blockchain infrastructure applications, which will increase infrastructure interconnectivity in countries and improve cross-chain operation capability. With its technologies and public service capabilities, Xinghuo BIF will provide blockchain services to Malaysia and other ASEAN countries and assist in cross-border commodity tracing, identity verification and supply chain finance.

Soon Wong TheanGeneral Manager of MyEG Group and co-founder of Zetrix, said, “Xinghuo BIF is already the most advanced and widely used chain for industrial and commercial applications. Now, with the launch of the Xinghuo International Supernode, the rest of the world can connect and be part of the China Web 3 evolution that will help build international communities and facilitate global trade and finance. »

Xinghuo BIF and MyEG public layer 1 blockchain, Zetrix, previously announced the introduction of cross-chain blockchain identifiers (BIDs), verifiable credentials (VC), and on-chain agreement signing. BIDs and VCs are essential elements of a more interconnected Web 3, as they are the fundamental tools that decentralized applications can call upon to deliver a myriad of new services.

The agreement between the parties was duly signed on-chain on the Xinghuo-Zetrix blockchain ecosystem.

About MY EG Services Bhd (“MyEG”)
MyEG is malaysia leading digital services company. Having started operations in 2000 as a flagship provider of e-government services, MyEG continues to play a leading role in driving technological change in the region, bringing a diverse and comprehensive range of innovations spanning e-delivery. from major government services to a variety of offerings in immigration, automotive, health, and financial services, among others. Committed to remaining firmly at the forefront of the region’s digital revolution, MyEG has embraced the potential of blockchain technology to improve all aspects of life and is actively pioneering its adoption in its core markets.. MyEG is present in key regional markets such as The Philippines and Indonesia.

About Zetrix
Zetrix is ​​a public layer 1 blockchain that facilitates smart contracts and provides privacy, security and scalability. Zetrix’s cryptographic infrastructure can be introduced across multiple industries to connect governments, businesses, and their citizens to a global blockchain-based economy. Owned by My EG Services Bhd, cross-border and cross-chain integration with Xinghuo Blockchain Infrastructure and Facility (BIF) enables Zetrix to serve as a blockchain gateway that facilitates global commerce by deploying critical building blocks for Web3 services such as Blockchain-based Identifiers (BID) and Verifiable Identifiers (VC). To learn more about Zetrix, visit Website | Twitter |

About Xinghuo BIF
Xinghuo BIF is a national blockchain infrastructure supported by the Ministry of Industry and Information Technology and led by the China Academy of Information and Communication Technology (CAICT). It provides services mainly to the industrial Internet, makes breakthroughs in Internet identification, increases the application of blockchain, and boosts the economy. With open construction strategies and governance model, Xinghuo BIF is positioning itself as a national blockchain infrastructure that provides services to the world and its construction began in August 2020. On August 3, 2021CAICT has launched BIF-Core, which marks the start of its main channel operation and global service.

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