Zetrix launches innovative digital credential platform for secure verification
December 10, 2023
December 10, 2023
Zetrix, a Layer 1 public blockchain platform developed by Malaysia's MY EG Services Bhd, is a revolutionary digital certificate platform that aims to redefine secure, convenient and interoperable credential verification in the digital space. We have introduced an information platform.
Converting legacy credentials:
MY EG Services highlighted that digital credential platforms offer a variety of benefits that address the limitations of traditional paper-based credentials and promise to reshape digital interactions for individuals, organizations, and governments.
The launch marks the realization of the partnership announced on September 18, 2023 between MY EG Services Berhad and the Chinese state-owned Guangxi Beitou IT Innovation Technology Investment Group Co., Ltd. The partnership is the IT arm of Guangxi Beitouwan Investment Group, the top company in the Guangxi Zhuang Autonomous Region. His 500 companies in China are contributing to the development of this breakthrough solution.
Xinghuo International's international services:
Initially available to citizens within China, the digital credential service will allow individuals to digitize their national ID or driver's license as a verifiable credential (VC) on Xinghuo International, China's national public blockchain gateway. Become. Her Zetrix, integrated with Xinghuo, facilitates the authentication of overseas VCs by verifiers that require identity verification or driver's license verification.
Seamless authentication through integration:
Beitou IT's integration with police and transport bureau databases across China ensures smooth authentication and digitization of documents to VC. The use of blockchain ensures data immutability and allows the verifier to be confident of the authenticity of her VC.
Expanding digitalization landscape:
Anticipating wider reach, MY EG said that beyond IDs and driving licenses, other important credentials held by individuals and businesses will also soon be digitized as VC, promising a more secure and efficient system. suggests that it may be possible.
Enhanced security with blockchain technology:
Highlighting the security benefits, the introduction of digital credentials, including blockchain-based driver's licenses, is poised to significantly thwart electronic license counterfeiting. Zetrix's digital credential platform employs a self-sovereign identity (SSI) framework that enables real-time verification and establishes robust defenses against fraud and forgery.
Selective data disclosure to improve security:
The SSI framework also allows document owners to selectively disclose or verify data such as age and home location without revealing sensitive information. This approach protects user data and reduces vulnerability to cyber attacks.
Cooperation between China and ASEAN:
Mr. Lai Bing, Chairman of the Board of Guangxi Beitou IT Innovation Investment Group Co., Ltd., emphasized the joint development of a cross-border authentication platform for digital driving licenses between China and ASEAN. The platform aims to provide convenient services for communication between citizens of China and ASEAN countries and promote economic development throughout the region.
Cross-chain integration for seamless transactions:
Zetrix's digital credential platform incorporates a multi-chain e-wallet, enabling the storage of native tokens and VC from Xinghuo International and Ethereum. This feature facilitates seamless cross-chain transactions, simplifies identity verification and document validation in various scenarios, and improves the travel experience.
Compliance with W3C standards for interoperability:
Compliant with World Wide Web Consortium (W3C) standards, Zetrix's digital credentials platform adheres to the principles of VC and decentralized identifiers, contributing to self-sovereign identity. This compliance will catalyze increased interoperability between blockchain and decentralized applications.
Zetrix’s role as a global blockchain gateway:
Zetrix functions as a layer 1 public blockchain, supports smart contracts, and provides privacy, security, and scalability. With cross-border and cross-chain integration with China developed by MY EG, Zetrix is positioned as a blockchain gateway connecting governments, businesses, and citizens to the global blockchain-based economy.
Strategic positioning of Beitou IT:
Beitou IT, a wholly owned subsidiary of Beitou Bay Investment Group, plays a vital role in the digital environment of southwest China. Beitou IT focuses on ITAI project implementation, IT product research and development, integration and sales, and new infrastructure development, making significant contributions to government and enterprise-level digital initiatives.
The introduction of Zetrix's digital credential platform is an important step toward transforming traditional credentials into a secure, efficient, and interoperable digital format. The collaboration between MY EG and Guangxi Beitou IT demonstrates a commitment to innovation and cross-border solutions that have the potential to reshape digital interactions and contribute to the economic development of the ASEAN region.