The blockchain village Medini is an official initiative by the government of Malaysia and the arena is now officially open.
The Sovereign Wealth Fund of the Malaysian government, Khazanah Nasional Berhad along with its sub-hierarchal division which is i2M ventures SDN BHD, has taken steps to bring Malaysia forth in the blockchain trading system.
They have launched blockchain village Medini (BVAM) which would aid in the growth of the blockchain system in the country.
Need for blockchain village Medini (BVAM)
Zulfiqar Zainuddin, the managing director of i2M ventures, said that BVAM was going to act as a stepping stone in Medini City for the provision of blockchain start-ups and sponsors, affiliated institutions and service providers. BVAM’s incentive is to let all these institutions enjoy a development and growth process and introduce them to the market.
The Menteri Besar of Johor, Dr. Sahruddin Jammal, said that not only will BVAM introduce new investments in Medini city but will also bring forth around twelve hundred (1,200) of high-ranking and knowledge centered projects to the city.
Zulfiqar Zainuddin said that blockchain introduction in a region required not only the technology but the progress and evolution along with the availability of talent. A Japanese blockchain company, OK blockchain, set up their office in Medini City during August.
GBS Iskandar Campus has initiated a program for the partnership between academia and facilitators of i2M. The company is said to have taught over a hundred (107) employees to date. The company is also expected to raise five hundred and sixty-two million Malaysian ringgits (RM 562 million) by the year 2022.