KUALA LUMPUR: Malaysia aims to position itself as a frontrunner in blockchain technology adoption and innovation, said Deputy Digital Minister Datuk Wilson Ugak Anak Kumbong.
He stated that the Digital Ministry is committed to developing the necessary policies, infrastructure, and incentives to support the widespread adoption of blockchain across various industries.
“The recognition of blockchain’s significance is growing. Blockchain is increasingly recognised as a core technology driving the Fourth Industrial Revolution alongside artificial intelligence and Web3, ensuring Malaysia remains competitive in the global digital landscape,” he said at Malaysia Digital Tech Adoption Summit: Blockchain organised by Malaysia Digital Economy Corporation (MDEC) today.
He also highlighted Malaysia’s inclusion in the IMD World Digital Competitiveness Index, where the country ranked 32nd globally.
“We are committed to fostering a robust and high-quality digital ecosystem,” said Wilson Ugak.
He identified several key areas where blockchain technology could transform Malaysia’s economy, including healthcare, supply chain management and finance.
“Blockchain enhances transparency and traceability from firm to consumer and provides the security necessary for decentralised finance,” he said, underscoring the importance of collaboration.
“To fully realise this vision, we must work together – government, industry and academia – to ensure that Malaysia leads the way in blockchain adoption,” said Wilson Ugak.
He expressed confidence that, through collective efforts, Malaysia will drive a forward-thinking and secure digital future. “I am confident we will spearhead the revolution towards a secure and innovative future, positioning Malaysia as a global digital leader,” he added.
Wilson Ugak further noted that Malaysia’s strategic focus on blockchain technology positions the country as a model for the Asean region, transitioning from a technology consumer to a key player shaping the future of the transformative innovation.
Meanwhile, MDEC hosted the second edition of the Malaysia Digital Tech Adoption Summit, which focuses on blockchain. The summit provided a platform for cross-industry collaboration, gathering business leaders, policymakers and innovators to explore blockchain’s potential in driving the country’s digital future.
According to MDEC’s statement, blockchain technology is expected to contribute substantially to Malaysia’s economic growth, playing a crucial role in sectors like digital finance, supply chain traceability and public service transformation. Furthermore, the global blockchain market is projected to grow significantly, with an estimated US$69 billion market size by 2032.
