Car connectivity solutions provider ACO Tech and blockchain solutions provider Geno have signed a memorandum of collaboration with the Malaysia Automotive, Robotics and IoT Institute (MARii) to explore the use of blockchain solutions in Malaysia’s electric vehicle infrastructure, the companies have announced in a joint statement.
The combined expertise of ACO Tech, Geno and MARii is aimed at addressing concerns associated with EV ownership, namely in terms of the scarcity of charging outlets and inconsistent charging rates, the statement read. Blockchain technology solutions will empower EV manufacturers, service providers and vehicle owners and users to “engage more interactively through a tamper-proof, decentralised ledger system,” it read.
Specifically, the use of blockchain technology solutions aims to reduce costs, enhance the user experience and confidence, as well as to establish seamless tracking and maintenance records, along with “ensuring transparency in the entire lifecycle of products and services,” according to the companies.
The agreement between the three parties paves the way for the sector to become the first in the country to leverage blockchain technology on an industry-wide scale, the statement continued, adding that it will “also help in creating a national EV-ready infrastructure through Mobility-as-a-service (MaaS) and blockchain-as-a-service (Baas)”.
“We are confident collaborations such as ours with MARii and Geno are the way forward in accelerating and expediting a comprehensive and conducive EV ecosystem for Malaysia, with an emphasis on security. By addressing challenges and capitalising on opportunities, Malaysia can position itself as a leader in the EV revolution in Southeast Asia,” said ACO Tech CEO Li Pu in the statement.
“By exploring blockchain solutions, we are not only addressing current challenges in the EV sector but also laying the groundwork for a secure and scalable infrastructure aligned with the National Automotive Policy 2020. By synergising our capabilities, we aspire to set new industry standards, promoting sustainable practices and user centric innovations,” said MARii CEO Azrul Reza Aziz.
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