On August 19th, 2019, the Malaysian newspaper “New Straits Times” published an article entitled “Impact of the Blockchain Technology” featuring Rene Bernard, CEO and Co-Founder of LuxTag. Besides, LuxTag’s trustworthy partner, Dagang NeXchange Group, also shared their thoughts on the topic.

The article intends to highlight the readiness of such innovative technology as blockchain to be adopted to serve the needs of different segments, including government, law enforcement, education, regulatory, real estate, health care, financial services, and retail. According to the article, the implementation of blockchain in real life will require some actions of the leading figures of industries, which will mean changing of the mindset and educating sectors’ players. “…without the right mindset, adoption of this technology will likely fail,” said Abdul Fattah, National Standards Committee Chairman.

As an example of the adoption of blockchain, the author emphasizes eScroll, a revolutionary platform aimed to verify educational and professional credentials. The platform has been recently launched by DagangNet and Luxtag and is already used by several Malaysian universities. It is a working example of a successful adaptation of blockchain in order to secure valuable documents and prevent their counterfeiting. “At LuxTag, we see ourselves as creators, inventors, and innovators. Dagang Net, on the other hand, is very good at servicing businesses with productized solutions. This is a perfect fit for strategic cooperation,” said Rene Bernard at World Blockchain Summit 2019 in Kuala Lumpur.

LuxTag is proud to bring the input to this article and share the idea of the blockchain implementation with readers alongside other professionals.

About New Straits Times

New Straits Times is a Malaysian daily newsletter, which highlights the latest Malaysia news on business, politics, world, lifestyle, sports and entertainment. To learn more visit https://www.nst.com.my.

About Dagang NeXchange Berhad

Dagang NeXchange Berhad (“DNeX”) is a leading provider of award-winning eServices for Trade Facilitation and has a wealth of knowledge, expertise and operational know-how in the provisioning of eServices for Trade Facilitation, IT consultancy and cybersecurity. DNeX is also making its mark as a reputable player in the oil and gas, and energy sector. The company is listed on the Main Market of Bursa Malaysia. For more information on the company, log on to www.dnex.com.my.

About LuxTag

LuxTag is an anti-counterfeit and anti-theft solution provider, utilizing the state of the art blockchain platform called NEM. The blockchain-powered service issues digitized certificates of authenticity for tangible products and links these to brands and owners through multi-signature contracts. LuxTag technology provides additional business intelligence through innovative means of enhanced customer engagement. As of today, the catered industries include Art, Fashion and Apparel, Jewelry, Luxury, and Documents. Visit www.luxtag.io to learn more about LuxTag.

®“LuxTag”, Trademark registered.