Mimos partners up with Oracle to leverage on Blockchain technology

MIMOS Bhd which is Malaysia’s National applied research and development centre under the Ministry of International Trade and Industry (Miti), announced plans to expand its collaboration with Oracle.

Mimos plans to discover how the government can utilize Blockchain to streamline various processes with the purpose of improving the method of doing business in Malaysia.

Besides that, Mimos had originally experimented with Open Source Hyperledger and had completed a proof of concept (POC) with respect to traceability of palm oil. Having a desire to broaden its experimentation, Mimos approached Oracle for use of their cloud-based Oracle Blockchain Platform.

The resulting blockchain prototypes in development – in addition to product traceability, which explores how blockchain can help curb any potential food-related crises such as outbreaks and contamination by increasing the visibility and traceability of products in the supply chain – include cashless wallets, power distribution, and transaction origination.

Mimos Chief Technology Officer (CTO) Thillai Raj said, “As the nation’s rapid transformation journey advances further into the Fourth Industrial Revolution, blockchain technologies can help drive greater growth in various sectors, and serve as potent enablers for Industry4WRD.”

He further elaborated, “More specifically, we aim to drive change in the manufacturing sector by making the traceability process more transparent and immutable.”

The key points of the Oracle Blockchain Platform are its plug and play integration with existing business systems, which simplifies and shortens the setup procedure and makes current deployment easier.

In addition, other key significance was the platform’s enterprise-grade architecture, which ensures the best security, scalability, and performance characteristics required for production use.

Moreover, being delivered as an open platform, it gives Mimos the potential to easily connect to Oracle applications or other systems when needed. It can connect to Oracle ERP Cloud for supply chain purposes or Oracle’s Autonomous Database, to gain deeper analytics capabilities, to simplify reporting by creating interactive dashboards and reports.

The use of blockchain technology has been gaining popularity in Malaysia. Malaysian Deputy Agriculture and Agro-based Industries Minister Sim Tze Tzin recently shared that the government is looking into utilizing blockchain to track and manage agricultural and Halal products at an international Halal expo held in Penang.

Besides that, the Malaysian Industry-Government Group for High Technology (MIGHT) has been established to explore how Malaysia can use emerging technologies such as blockchain for growth and development.

Oracle Malaysia Managing Director Fitri Abdullah said, “Being one of the key contributors in raising Malaysia’s innovation competitiveness, Mimos has been the pioneer in grooming technopreneurs through patentable technology platforms, products and solutions. Oracle is honored to collaborate with Mimos underpinning the future of blockchain development in Malaysia.”

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