OUR BUSINESS STRATEGIES TO SUSTAIN VALUE CREATION (cont’d) If previously, security issues with existing technological solutions had prevented a truly 100%, full digital solution (due to the risk of data breaches, data theft hacking and phishing), with blockchain, these risks can be greatly reduced (if not avoided altogether) for most applications, thus enabling a seamless, completely electronic service for customers. The development of full, digitised services from start to end will further reduce environmental footprint and accentuate the convenience, accessibility and affordability factors of MYEG’s products. Notably, MYEG’s partnership with MIMOS to develop the national blockchain will not only accelerate the adoption of blockchain-related applications but also the establishment of Malaysia’s very own DIDs technology: Zidentity (“ZID”). ZID conforms to China’s Xinghuo BID, VC and on-chain agreement signing services to the international market, which facilitates cross-border transactions with China in a secure manner. DID technology allows data owners to gain control of their digital identity through identity wallets. This is made possible by using cryptography for individuals to own their data, allowing users to control and better manage their data. They can share, authorise and verify the exchange of data from another peer in a secure, private and immutable way. To access your personal data, a pair of keys, which are automatically generated with your identity wallet, are needed to decrypt the code. They consist of a private key, which is solely owned by you, and a public key, which is distributed to the ledger and accessible to everyone. This enables the owner to have full control and ownership over their identity and credentials, and can prevent the loss of your personal information through criminals hacking an entity that has your information stored in their database. Without your private key, it is virtually impossible for hackers to conduct data and identity theft. DIDs also enable traceability and credible information in a global supply chain scenario. For instance, DIDs can accurately verify the origin and confirm the destination of products. Not only will DIDs make it challenging for the credentials to be forged, they also verify them almost immediately, saving a tremendous amount of time and money for all stakeholders in the supply chain. BLOCKCHAIN AGENDA Form key partnerships with innovative technology collaborators. Encourage the increasing involvement of government entities in supporting blockchain platforms. Introduce new services in the digital assets space to our operating markets. Increase financial accessibility for consumers through various disruptive blockchain-based financial services and solutions. Enable 100% digital solutions for government and commercial services. 51
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