Malaysia has officially stepped into the Web3 blockchain industry with the conclusion of Malaysia Blockchain Week (MYBW).

The event, in partnership with the Malaysia Digital Economy Corporation (MDEC), also saw support from the Malaysia Convention & Exhibition Bureau (MyCEB) and Malaysia Venture Capital Management Bhd (MAVCAP).

Prominent figures in attendance included Lydian Labs CEO Adrian Sim, Lydian Labs CRO Noelle Lee, Minister of Digital YB Tuan Gobind Singh Deo, MDEC Digital Investment Senior Vice President Raymond Siva, and Lydian Labs COO Dr. Ian Tan.

Minister of Digital YB Tuan Gobind Singh Deo highlighted the significance of the event, stating, “Throughout this week, we have witnessed the vibrancy of Malaysia’s blockchain ecosystem. The convergence of innovative startups and established industry leaders has created an environment ripe for groundbreaking advancements.”

Malaysia’s Emerging Future

Just a few years ago, Web3 and blockchain technology were niche interests. Today, they have expanded into numerous industries, including banking, gaming, and fintech. In Malaysia and globally, the tangible impacts of this industry evolution are evident.

Dr. Ian Tan of Lydian Labs commented, “The Malaysian government’s support of the adoption of blockchain technology in the country will see a rapid uptake of the technology.”

MYBW facilitated crucial discussions between corporate and government bodies, highlighting the endless possibilities of Web3.

The event brought together influential parties in Malaysia through speakers, demos, and more, fostering a value chain that benefits every stakeholder and drives tech growth in Malaysia via blockchain.

Ts. Mahadhir Aziz, CEO of MDEC, added, “MDEC is proud to support Malaysia’s rapidly growing tech ecosystem. Aligning with the Malaysia Digital national strategic initiative, we are pleased to showcase our nation’s readiness for digital transformation through groundbreaking blockchain innovation. The advancements and collaborations witnessed this week reaffirm our belief in the potential of blockchain to revolutionize sectors, and we remain committed to fostering an environment where innovation can thrive, ensuring our place at the forefront of the global digital landscape and positioning Malaysia as a digital hub of ASEAN.”

Shaping the Future of Blockchain in Malaysia

The event brought together major players locally and globally to explore the adoption of blockchain technology in Malaysia.

Over 20 keynote speakers and more than 30 panels covered key topics such as regulatory issues, decentralized finance, syariah digital economy, blockchain traceability, NFTs, Web3 gaming, and the impacts of Artificial Intelligence (AI) on Malaysia.

More than 3,000 enthusiastic Malaysians and international guests gathered at the World Trade Centre Kuala Lumpur (WTCKL), engaging with the digital playground set up by Lydian Labs.

Their self-made web app served as both a digital guide to the event and an engagement tool embracing the blockchain industry’s culture and technology.