Marii, Geno, Aco Tech Release White Paper On Blockchain Technology, Tokenomics

KUALA LUMPUR, June 10 (Bernama) -- The Malaysia Automotive Robotics and IoT Institute (MARii), Geno Group and ACO Tech have released a comprehensive White Paper Version 1 on exploring blockchain technology and token-based economic solutions (tokenomics) within Malaysia’s mobility ecosystem.

MARii said the initiative and its implementation represented an important step in applying Web 3-powered Direct-to-Customer (W3-D2C) technology to support sustainable business growth.

It also said the commercialised tokenomics approach presented in the white paper, will complement MARii and ACO Tech’s solutions for the e-Mobility Service Platform (eMSP), which is a crucial part of the government’s Connected Mobility Vision, aimed to accelerate the development of xEV infrastructure in Malaysia, in line with the National Automotive Policy 2020 (NAP 2020).

MARii chief executive officer (CEO) Azrul Reza Aziz commented that the White Paper Version 1 represents an important step in applying Web 3 powered Direct-to-Customer (W3-D2C) technology in an industrial setting.

"This initiative marks a significant step for Malaysia’s mobility industry towards greater sustainability and efficiency. It aligns with Malaysia's New Industrial Master Plan (NIMP) 2030 and the National Energy Transition Roadmap (NETR), aiming to achieve 20 per cent of Electrified Vehicles (xEV) by 2030, 50 per cent by 2040 and 80 per cent by 2050," he said in a statement today.

According to the statement, MARii said all parties would will ensure that this initiative will comply with existing legal frameworks and maintain full transparency.

They would also work closely with regulators to uphold the integrity and legality of the first industrial application of real-world asset (RWA) tokenisation in the electric mobility system, it said.

“The RWA tokenisation solutions outlined in the white paper prioritise data privacy and sovereignty, enable data monetisation and foster a sustainable ecosystem to attract long-term strategic investors and business partners,” it shared. 

MARii added that the Whitepaper Version 1 also detailed how to secure funding for infrastructure and ensure a return on investment (ROI) through long-term contracts with guaranteed benefits. 

“On top of that, customers are also incentivised to participate in building the ecosystem, while original equipment manufacturer (OEM) brand owners could engage directly with their customers in a more cost-effective way,” it noted.

Meanwhile, Geno Group CEO Ian Zhang said the company is committed to helping its customers in their transformation journey from traditional industries with the use of advanced technologies through the initiative. 

The White Paper Version 1 underlines a strong commitment to technological advancement and regulatory compliance, where it details several applications using Geno’s blockchain solutions, including supply chain management, recycling for the circular economy and carbon credit tracking.

-- BERNAMA