UCTS signs MoU with YUFE
SIBU: University College of Technology Sarawak (UCTS) signed a Memorandum of Understanding (MoU) with Yunnan University of Finance and Economics (YUFE), China virtually yesterday.
UCTS vice chancellor Professor Datuk Dr Khairuddin Ab Hamid said the MoU also involved industrial partners namely, Advanced Technology Studies Center Sdn Bhd, Life3 Sdn Bhd, DTSB Technologies Sdn Bhd and academic partner University of Malaya.
“This collaboration will pave the way for a unique project on the application of blockchain for export and import of durian.
“The durian blockchain project is a strategic highimpact project to promote trade between China and Malaysia. It is my understanding that UCTS will be the first China blockchain node hosted here in Malaysia,” he said during his speech.
He pointed out that for successful implementation, all industrial partners need to look beyond research as it requires the integration of various stakeholders including supplychain, customs and other related government agencies of both China and Malaysia.
“We also require both countries to establish trust and mutual recognition of import-export documents and certifications.
“Looking beyond supplychain integration, the next horizon could be payment systems utilising block-chain technology, such as cross border digital currencies between China and Malaysia,” he said.
Khairuddin believed that Kunming and Kuching being sister cities since 2017 are in a good position to convince the governments to make their projects a reality.
“Our research team is currently working with industry partners to prepare the path for implementation,” he said.
Through the MoU, both institutes could embark on student exchange, academic and educational cooperation, organising seminars and conferences and research projects that are mutually beneficial.
Attending the virtual signing were vice president of YUFE Wang Min; director of Centre for International Relations (CIR) of UCTS Associate Professor Wong Sing Sing; representatives from industry partners, academic partner and UCTS senate members.