UCTS commended for recognising big potential in Blockchain technology

SIBU: The University College of Technology Sarawak ( UCTS) is praised for gearing aggressively towards becoming a Blockchain-technology-oriented academic and research player not just locally, but globally as well.

In this respect, NEM Malaysia Sdn Bhd director of business development Andy Roy Sian says governments, corporations, ICT solution providers and academicians all around the world are working closely together to understand how Blockchain technology can be used to solve issues and growth opportunities, in their own areas of interests.

He pointed this out at the signing ceremony of a memorandum of understanding ( MoU) between UCTS and NEM Malaysia here yesterday, where he represented the company while the university was represented by its vicechancellor Prof Datuk Khairuddin Ab Hamid.

“The timing of this MoU is right. We must seize the opportunity to harness the potential opportunities that Blockchain technology is offering,” Andy added.

According to him, NEM Malaysia’s collaboration with the academia and the topic of the MoU cover, but not limited to, collaboration in research and development activities, expert forum, final-year projects, as well as the Blockchain Lab and NEM Satellite’s presence in UCTS, where one of the existing computer laboratories would be branded into a Blockchain Lab, powered by NEM.

“We live in demanding times and the way we conduct business is being disrupted with new technologies and competition.

“Blockchain technology is disrupting the global economy and countries are beginning to embrace the technology to solve existing and future problems.

According to a white paper by World Economic Forum entitled ‘Blockchain Beyond the Hype – A Practical Framework for Business Leaders, April 2018’, whether or not to adopt Blockchain (technology) is not merely a technological decision; it is also a business decision,” said Andy.