Smart mobility provider Aco Tech has officially established a memorandum of collaboration with Geno Group Ltd and the Malaysia Automotive, Robotics & IoT Institute (MARii) to explore the integration of blockchain solutions into Malaysia’s electric vehicle (EV) infrastructure.
Exploring Blockchain Solutions for EV Infrastructure Enhancement
The collaboration focuses on exploring various blockchain solutions, including smart contracts, digital traceability management of the supply chain, tokenomics solutions, and privacy protection technologies. These solutions aim to complement Aco Tech’s offerings for the E-Mobility Service Platform (EMSP), ensuring data privacy, ownership, data monetization, and long-term sustainable investments for strategic investors.
Accelerating EV Infrastructure Development
The EMSP serves as the foundational layer of the government’s connected mobility vision, designed to accelerate the development of EV infrastructure in Malaysia. The collaborative efforts of Aco Tech, Geno, and MARii aim to address concerns related to EV ownership, such as the scarcity of charging ports and inconsistent charging rates.
Empowering EV Stakeholders Through Blockchain
The utilization of blockchain technology empowers EV manufacturers, service providers, and users by creating a tamper-proof decentralized ledger system. This approach is intended to reduce costs, enhance user experience and confidence, and establish seamless tracking and maintenance records. The technology also facilitates peer-to-peer energy and charger-sharing, ensuring transparency throughout the entire lifecycle of products and services.
Aligning with National Goals
This groundbreaking alliance aligns with the New Industrial Master Plan 2030 and the National Energy Transition Roadmap. The Malaysian government aims to achieve ambitious targets of 20% electrified vehicles by 2030, 50% by 2040, and 80% by 2050. The collaboration positions the sector as the first to leverage blockchain technology on an industry-wide scale in Malaysia, contributing to the realization of the National Automotive Policy 2020.
Aco Tech’s Commitment and Confidence
Aco Tech CEO Li Pu expresses readiness to share knowledge and expertise, supporting stakeholders in achieving national goals. The collaboration with MARii and Geno signifies a crucial step in accelerating the development of a comprehensive EV ecosystem for Malaysia, emphasizing security and addressing challenges to position the country as a leader in the Southeast Asian EV revolution.
Shaping the Future of Malaysia’s EV Ecosystem
MARii CEO Azrul Reza Aziz views the collaboration as a significant step forward in shaping Malaysia’s EV ecosystem. Exploring blockchain solutions not only addresses current challenges but also lays the groundwork for a secure and scalable infrastructure aligned with the National Automotive Policy 2020. The collaboration aspires to set new industry standards, promoting sustainable practices and user-centric innovations.
Industrial-Grade Application of Blockchain
Geno CEO Zhang Yi Ian emphasizes that this initiative marks the first industrial-grade application of a blockchain solution. The primary goal is to facilitate a transformative shift for participating enterprises toward a service-focused model, enhancing engagement with end-user customers through earlier, deeper, and more enduring interactions.