Building interconnectivity of digital identities among countries to effectively combat the growing c
On January 16, 2025, with the rapid development of digitalization in the ASEAN region, there has been a significant increase in cybercrime and online fraud cases. The exchange of digital identities between China and ASEAN countries has become a key factor in combating cross-border and online fraud. Huang Tianshun, Managing Director of MyEG and co-founder of Zetrix, emphasized this point at the China ASEAN Digital Ecological Cooperation Forum held in Bangkok yesterday.
During the dialogue session, Huang Tianshun (second from right), Managing Director of MyEG and co-founder of Zetrix, along with Mo Jialin (first from right), Vice President of ZTE's Overseas Marketing Program, Zhang Ziyan (second from left), Chief Marketing Officer of Huawei Asia Pacific, and Sanphachai Huvanandana (first from left), CEO of National Telecom Public Company Limited
This forum is held concurrently with the 5th ASEAN Digital Ministers' Meeting, bringing together important leaders and policy makers from all walks of life to explore practical solutions to enhance digital security and promote cooperation.
The main spokespersons include:
·Thai Deputy Prime Minister and Minister of Digital Economy and Social Affairs, H.E. Prasert Jantararuangtong
·ASEAN Secretary General Dr. Kao Kim Hourn
In the dialogue session titled "Creating an Environmentally Friendly Digital Future", Huang Tianshun emphasized the significant losses that online fraud brings to the economy and society.
The increasingly severe threat of cybercrime in the ASEAN region
According to the United Nations Office on Drugs and Crime (UNCTAD), the economic losses caused by fraud targeting victims in East and Southeast Asia in 2023 are estimated to be as high as $37 billion. Malaysia's Digital Minister Gobind Singh Deo stated that between 2021 and April 2024 alone, Malaysia lost RM3.18 billion (approximately USD 700 million) due to online fraud, with over 95800 victims.
The role of MYEG in ASEAN cooperation
As an important member of the ASEAN Business Council Malaysia Circle, MYEG is committed to promoting regional initiatives for economic growth and digital security. Huang Tianshun reiterated MYEG's commitment to strengthening cross-border cooperation and actively advocated for an interconnected digital identity system to consolidate ASEAN's digital ecosystem.
Huang Tianshun, Managing Director of MyEG and co-founder of Zetrix, spoke during the dialogue session of the China ASEAN Digital Ecological Cooperation Forum on the theme of "Creating an Environmentally Friendly Digital Future" held in Bangkok.
Why interconnected digital identities are crucial for ASEAN
Huang Tianshun explained, "Regarding the verification process, many forum participating countries, including China, Malaysia, Singapore, and Thailand, have already launched or are in the process of launching national digital identities. If countries can achieve real-time mutual recognition and localized verification of each other's digital identities, then no matter how realistic the deepfake videos look, the identity of online users can be accurately identified
He further elaborated on several core advantages of interoperability of digital identities:
·Real time cross-border identity verification effectively suppresses and identifies fraudulent activities.
·Enhance trust in digital transactions and provide a safer environment for economic activities.
·Promote the digital economy, foster regional cooperation, and enhance consumer confidence.
Using blockchain technology to drive innovation
Through its first layer of public blockchain Zetrix, MYEG has taken significant steps towards achieving cross-border interoperability by establishing an exclusive partnership with Astron Xinghuo BIF, China's national blockchain infrastructure.
This collaboration enables ZID digital identity to be issued as Web3 verifiable credentials (VCs), enabling individuals and businesses in China to digitize their national identity cards or corporate registration identities. These tamper proof digital identities have pioneered a breakthrough towards a unified digital identity interoperability framework.
Paving the way for a secure digital future
With Malaysia assuming the ASEAN chairmanship in 2025, MYEG is committed to promoting innovation and fostering trust in the regional digital economy. With interconnected digital identities and blockchain technology at the forefront, MYEG will strive to assist ASEAN countries in embracing digital transformation while protecting citizens from the increasingly rampant threat of cybercrime.
About MY E.G Services Limited (MYEG)
MYEG is a leading digital services company in Malaysia, operating as a flagship provider of e-government services since 2000. MYEG plays a leading role in driving technological change and development in the region, providing a wide range of innovative solutions from key government electronic services to various online commerce services, covering multiple fields such as immigration, automotive, finance, and more. MYEG is committed to leading the digital revolution in the region, actively adopting blockchain technology to improve people's lives, and also promoting the widespread use of blockchain in major markets through its first layer public blockchain platform Zetrix. In addition to the local market, MYEG's business also covers other major regions such as China, the Philippines, and Hong Kong.
MYEG official website: https://www.myeg.com.my/
About Zetrix
Zetrix is a first layer public blockchain designed to facilitate smart contracts and provide privacy protection, security, and scalability. Zetrix's encryption infrastructure is applicable to multiple industries, connecting governments, businesses, and citizens to the global blockchain based economy. The Zetrix platform was developed by MY E.G. Services Co., Ltd. It has become a blockchain portal through cross-border and cross chain integration with China, and promotes global trade by deploying key modules of Web3 services such as blockchain based identification codes (BID) and verifiable credentials (VC).
Zetrix official website: https://www.zetrix.com/
