KUALA LUMPUR: Boustead Holdings Bhd has signed a Memorandum of Understanding (MoU) with US-based Accubits Technologies to empower businesses to embrace blockchain innovations into the conventional industries and business processes.
Boustead plans to leverage Accubits' expertise in blockchain innovations to explore asset tokenisation and green token for the Malaysian market.
Accubits hopes that the association with Boustead would help the companies expand further in the market by assisting organisations in embracing blockchain technologies, especially in the real estate industry and the public sector.
Boustead group managing director Datuk Seri Mohammed Shazalli Ramly said the MoU signifies Boustead Group's renewed focus in its 'Reinventing Boustead' strategy as well as the Boustead Hijau (BIJAU) agenda.
BIJAU is Boustead's very own environmental, social and governance (ESG) commitment that drives all its business dealings and operations.
"Our interest in blockchain technology sits well with our vision to reduce the economic gap, democratising the traditional way of life and helping everyone, especially the unserved and underserved, 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 tokenisation.
"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," he said.
Accubits chief strategist officer Shameer Thaha said with Boustead's expertise built over centuries and Accubits' expertise in emerging technologies, both parties hoped to be a game-changer in the ASEAN markets, enabling organisations 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 said.
