Labuan, Malaysia – October 20, 2022 – Tijarah Holding Ltd. (THL) announced the further development of the world’s first Shariah-compliant ecosystem incorporating WEB3 development and blockchain technology known as MAL Blockchain. MAL Blockchain is the foundation for the establishment of a blockchain ecosystem to mark under the “Blockchain Island” in Labuan.
According to Mr. John Pellegrini, CEO of THL, this initiative supports Labuan IBFC’s “Strategic Roadmap 2022-2026” to advance the Malaysia Digital Economy Plan 2021. Mr. Pellegrini has stated that Tijarah has intending to develop MAL blockchain in collaboration with key stakeholders in the public and private sectors with the aim of promoting Labuan as a blockchain island that integrates smart digital economy, smart business and smart life. The blockchain island will create strong economic growth for Labuan and Malaysia by attracting corporations, institutions, and businesses that want to participate in the digital economy.
For the acceleration and facilitation of the prototyping of blockchain solutions for Labuan, Mal Blockchain was created to give government entities, financial institutions, and businesses the freedom to build on a WEB3 shariah-compliant blockchain framework. based on your business needs. The Mal Blockchain is a secure, scalable and fully managed blockchain network with a low cost model. The Royal Institution of Chartered Surveyors has valued the entire Mal blockchain ecosystem at US$4.4 billion.
In addition to attracting global talent together with its strategic technology company “AI Green Bubble”, THL aims to increase the percentage of digitally trained talent in Labuan to 10 percent by 2024. The goal is to develop a blockchain-powered decentralized learning platform that Support the development of digital skills in Labuan through partnerships with educational institutions and training centers.
THL describes MAL Blockchain as the missing catalyst in the adoption of blockchain by financial institutions, governments and agencies. THL has chosen Labuan as a base to develop MAL Blockchain due to the quality of the digital infrastructure in Labuan, the clear and digital friendly regulations and the support provided by the Labuan FSA.
THL development of MAL Blockchain is well advanced and has already completed the development of the Genesis block, deployment of 200 nodes with additional nodes to be released, and scaling modules including development tools and library for use by developers on MAL Blockchain. THL currently has a strong and experienced technical team of more than 120 blockchain and dApp developers.
The rise of MAL Blockchain will define future profit pools in web3 is the concept of identity.
Identity is central to what many see as web3’s greatest opportunity: the ability to democratize the online experience, allow users to take back control of their data, and open the door to mass personalization of each user’s experience. Web3’s approach to identity will have important implications for many other technologies, such as artificial intelligence and machine learning, that will be needed to manage the proliferation and complexity of data required to serve and track customers. This potential can only be realized if effective and user-friendly ways are created to share just the right data in the right contexts.
The MAL blockchain network is expected to be completed by the end of 2023. The MAL blockchain is set to provide a structure to ensure compliance with Islamic law and regulatory government. This is expected to overcome skepticism in the adoption of blockchain technology by the most demanding financial and government institutions. “We will not be surprised by the rapid rate of adoption and widespread use of the MAL blockchain in a short period of time,” Mr. Pellegrini said.
Tijarah Holdings, Ltd. consists of a group of companies and strategic alliance partners that includes Darlitana UAB and GoldChainex OU (www.gcex.lt). The market capitalization value of GoldChainex OU is 56 million US dollars. Darlitana UAB operates a Lithuanian regulated centralized digital asset exchange and GCex a decentralized digital asset exchange, which allows users to buy, sell or trade digital assets including GCS, XAUS, USDT, BUSD, USDC and ETH. Despite the newness of GCS and the crypto bear market that has seen leading cryptocurrencies and Bitcoin fall by over 60%, GCS has continued to show strong performance. Initially issued during the presale at $6.00, GCS has risen 100% since the IEO in April this year and is currently trading around $12.00.
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Company Name: Tijarah Holding Ltd.
Contact person: juan pellegrini
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