Home Business Accubits, Boustead To Embrace Blockchain Technology for Betterment

Accubits, Boustead To Embrace Blockchain Technology for Betterment

Blockchain technology sits well with Boustead’s vision to reduce the economic gap, democratizing traditional way of life and helping everyone to own a piece of traditionally inaccessible wealth.

by K. Vatsala Devi
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blockchain technology to help economy

Accubits Technologies and Boustead Holdings Berhad today signed a Memorandum of Understanding (MOU) to empower businesses to embrace blockchain innovations into the conventional industries and business processes; which at the same time encourages better wealth distribution amongst the population and commitment to Environmental, Social and Governance (ESG) efforts.

Boustead – one of Malaysia’s oldest and biggest conglomerates, plans to leverage on Accubits’ expertise in blockchain innovations to explore asset tokenization and green token for the Malaysia market. Accubits hopes that the association with Boustead would help the companies to expand further in the market by helping organizations embrace cutting-edge blockchain technologies, especially in the real estate industry and the public sector.

Boustead’s market leadership and expertise that are built over multiple decades combined with the prowess of Accubits Technologies in emerging technologies such as blockchain and artificial intelligence can help businesses and organizations apply the new technologies to redefine the business processes and operations.

Blockchain Technology Could Address Wealth Inequality

The MOU was signed by Dato’ Sri Mohammed Shazalli Ramly, Boustead Group Managing Director, and Shameer Thaha, Accubits Chief Strategy Officer in a virtual signing ceremony.

Dato’ Sri Mohammed Shazalli said that the MOU signifies Boustead Group’s renewed focus in its “Reinventing Boustead” strategy as well as the Boustead Hijau (BIJAU) agenda which is the Group’s very own ESG commitment that drives all its business dealings and operations.

“Our interest in blockchain technology sits well with our vision to reduce the economy gap, democratizing the traditional way of life and to help everyone, especially the un-served and under-served to own a piece of traditionally inaccessible wealth, made possible with this new monetary system.

“We are now in a good position to reassess our assets, through a different perspective, with this new instrument called blockchain and tokenization. The green tokens, backed by our future ventures in ESG initiatives such as algae oil, solar and several others, will mark our footprint in promoting a greener future and promoting our aspiration towards supporting Malaysia’s net zero carbon target by 2050.

“Enabling the Changemakers tagline by Accubits perfectly summarizes our aspiration – The world is plagued with problems. When the whole world is stuck in the status quo, a few people break out of it. They question it. They go out of their way to solve the problems they see. And push humanity forward. The possibilities are endless and we hope to become the domestic champion in this space and help to reduce inequality in distribution of wealth as well as create value together with Accubits,” he said.

Shameer Thaha, Accubits Chief Strategist Officer shared, “We are excited about this association with Boustead. With Boustead’s immense expertise that is built over centuries and Accubits’ expertise in emerging technologies, we hope to be a game changer in the ASEAN markets, enabling organizations with future-proof software and solutions.”

“Experience and expertise are two essential factors to bring a radical shift in embracing emerging technologies in this market, and that is why our association with Boustead is crucial and timely,” he concluded.

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