January 16, 2025 With the rapid development of digitalization in the ASEAN region, cybercrime and online fraud cases have increased significantly. The interoperability of digital identities between China and ASEAN countries has become the key to combating cross-border and online fraud. Huang Tianshun, managing director of MyEG and co-founder of Zetrix, emphasized this at the China-ASEAN Digital Ecosystem Cooperation Forum held in Bangkok yesterday.
MyEG Managing Director and Zetrix Co-founder Huang Tianshun (second from right) with ZTE Overseas Marketing Program Vice President Mo Jialin (first from right), Huawei Asia Pacific Chief Marketing Officer Zhang Ziyan (second from left) and National Telecom Public Company Limited CEO Sanphachai Huvanandana (first from left) during the dialogue session
Focus on cross-border digital security
The forum was held in conjunction with the 5th ASEAN Digital Ministers’ Meeting, bringing together key leaders and policymakers from all sectors to discuss practical solutions to enhance digital security and promote cooperation.
Key speakers include:
· HE Zhang Yunming, Vice Minister of the Ministry of Industry and Information Technology of China
HE Prasert Jantararuangtong , Deputy Prime Minister and Minister of Digital Economy and Society of Thailand
· HE Dr. Kao Kim Hourn , Secretary General of ASEAN
In a dialogue session titled “Building an Environmentally Friendly Digital Future”, Huang Tianshun highlighted the significant losses that online fraud causes to the economy and society.
The growing threat of cybercrime in ASEAN
The United Nations Office on Drugs and Crime (UNODC) estimates that fraud targeting victims in East and Southeast Asia will cause economic losses of up to US$37 billion in 2023. Malaysia's Digital Minister Gobind Singh Deo pointed out that Malaysia lost RM3.18 billion (about US$700 million) to online fraud between 2021 and April 2024 alone, with more than 95,800 victims.
MYEG’s role in ASEAN cooperation
As a key member of the ASEAN-BAC Malaysia Circle, MYEG is committed to regional initiatives to promote economic growth and digital security. Mr. Wong reiterated MYEG’s commitment to strengthening cross-border collaboration and actively advocating for an interoperable digital identity system to strengthen ASEAN’s digital ecosystem.
Huang Tianshun, managing director of MyEG and co-founder of Zetrix, speaks during a dialogue session at the China-ASEAN Digital Ecosystem Cooperation Forum in Bangkok on the theme of "Building an Eco-Friendly Digital Future"
Why interoperable digital identities are crucial for ASEAN
“Regarding the verification process, many Forum participants, including China, Malaysia, Singapore and Thailand, have already launched or are in the process of launching national digital identities,” explained Huang Tianshun. “If countries can mutually recognize and verify each other’s digital identities in real time and locally, they can accurately identify online users no matter how realistic a deep fake video may look.”
He further elaborated on several core advantages of interoperable digital identities:
Real-time cross-border identity verification to effectively curb and identify fraudulent activities.
Enhance trust in digital transactions and provide a safer environment for economic activities.
Promote the digital economy, foster regional cooperation, and enhance consumer confidence.
Using blockchain technology to drive innovation
Through its first-layer public blockchain, Zetrix , MYEG has taken a significant step towards achieving cross-border interoperability, entering into an exclusive partnership with China’s national blockchain infrastructure, Astron-Xinghuo BIF.
The collaboration enables ZID digital identities to be issued as Web3 Verifiable Credentials (VCs), enabling individuals and businesses in China to digitize their national ID or corporate registration identity. These tamper-proof digital identities create a groundbreaking path towards a unified digital identity interoperability framework.
Paving the way for a secure digital future
MYEG is committed to driving innovation and fostering trust in the regional digital economy as Malaysia assumes the ASEAN Chair in 2025. With interoperable digital identities and blockchain technology at the forefront, MYEG will aim to assist ASEAN countries in embracing digital transformation while protecting citizens from the growing threat of cybercrime.
About MY EG Services Sdn Bhd (MYEG)
MYEG is Malaysia's leading digital services company, operating as the flagship provider of e-government services since 2000. MYEG plays a leading role in driving technological change in the region, providing a wide range of innovative solutions, from key government e-services to various online business services, covering immigration, automotive, finance and other fields. MYEG is committed to leading the digital revolution in the region, actively adopting blockchain technology to improve people's lives, and promoting the widespread use of blockchain in major markets through its first-layer public blockchain platform Zetrix. In addition to the local market, MYEG's business also covers other major regions such as China, the Philippines and Hong Kong.
MYEG official website: https://www.myeg.com.my/
About Zetrix
Zetrix is a first-layer public blockchain designed to facilitate smart contracts and provide privacy, security and scalability. Zetrix's cryptographic infrastructure is applicable to multiple industries, connecting governments, businesses and citizens to the global blockchain-based economy. Developed by MY EG Services Co., Ltd., the Zetrix platform is a blockchain portal through cross-border and cross-chain integration with China, and promotes global trade by deploying key modules of Web3 services such as blockchain-based identification codes (BIDs) and verifiable credentials (VCs).
Zetrix official website: https://www.zetrix.com/
