The Malaysia Digital Tech Adoption Summit 2024, hosted by MDEC, emphasized blockchain’s role in driving Malaysia’s digital future, with over 840,000 Malaysians embracing the technology. The event focused on fostering cross-industry collaboration, innovation, and efficiency to position Malaysia as a regional digital leader.
4 October 2024 – The Malaysia Digital Economy Corporation (MDEC), Malaysia’s leading digital agency, recently hosted the second edition of the Malaysia Digital Tech Adoption Summit, with a primary focus on blockchain technology. The event was officiated by YB Datuk Wilson Ugak Anak Kumbong, Deputy Minister of Digital, reinforcing the nation’s vision to become a digital hub for ASEAN. This initiative aligns with the Malaysia Digital (MD) national strategy, which seeks to drive digital innovation and economic transformation.
Blockchain adoption has grown significantly in Malaysia. As of 2024, over 840,000 Malaysians have opened accounts with regulated digital asset exchanges, contributing to an impressive RM21 billion in digital assets traded in 2021, a sharp rise from RM1.4 billion in 2020. The integration of blockchain is expected to further propel Malaysia’s economy, particularly in areas like digital finance, supply chain traceability, and public service transformation. Globally, the blockchain market is projected to reach USD 69 billion by 2032.
The summit served as a crucial platform for cross-industry collaboration, bringing together business leaders, policymakers, and innovators to explore the full potential of blockchain in shaping Malaysia’s digital future. It emphasized Malaysia’s pivotal role in supporting Industry 4.0 transformation by driving innovation and improving operational efficiency through emerging technologies like blockchain.
Under the theme “Empowering Malaysia’s Digital Future Through Blockchain Adoption,” the summit showcased blockchain’s potential across various sectors, including finance, healthcare, and supply chain management. The technology’s ability to enhance transparency, security, and efficiency is seen as vital for Malaysia to remain competitive in the global economy.
A key focus of the event was blockchain’s role in boosting SME productivity, reducing costs, and enabling large enterprises to scale effectively. Discussions also centered on the regulatory landscape, successful blockchain implementation case studies, and strategies for fostering a secure, transparent, and efficient digital infrastructure. The summit offered networking and business matching opportunities, encouraging collaboration between tech providers and enterprises.
Aligned with national frameworks like MyDIGITAL and the Fourth Industrial Revolution (4IR), the summit’s goals included increasing productivity by 30% through the adoption of digital solutions. MDEC remains committed to advancing technological progress across all industries, helping to solidify Malaysia’s position as a key player in the global digital economy. Through strategic initiatives like this summit, MDEC continues to lead the nation towards transformative growth and global competitiveness.
