PETALING JAYA, Malaysia, Nov. 29, 2023 /PRNewswire/ — Zetrix, a leading public Layer 1 blockchain platform, today announced a significant milestone in its journey to connect businesses globally and streamline trade processes. The platform has unveiled a groundbreaking update to its native wallet application, enabling seamless digital asset connectivity between three major blockchains: Zetrix, Ethereum (ETH), and XingHuo International.
This pivotal development marks a crucial step towards interoperable verifiable credentials, a cornerstone of Zetrix’s mission to revolutionize global trade and data interoperability. Verifiable credentials are tamper-proof digital records that can be verified across multiple platforms, hold immense potential to simplify and expedite cross-border transactions, particularly in the realms of supply chain management and identity verification.
With the introduction of multi-chain support, Zetrix users will now be able to seamlessly manage digital assets across Zetrix, ETH, and XingHuo International, essentially allowing onchain data to be shared in and out of China. This enhanced interoperability will not only streamline cross-border trade but also pave the way for the development of innovative applications and services within the Zetrix ecosystem.
"The launch of our multi-chain wallet represents a significant leap forward in our mission to facilitate seamless cross-border trade and foster a more interconnected global economy," said Dato Fadzli Shah of Zetrix. "By bridging the gap between these major blockchains, we are empowering businesses to navigate the complexities of international transactions with greater efficiency and security."
The integration of XingHuo International, the international supernode of China’s national public blockchain infrastructure Xinghuo BIF, further strengthens Zetrix’s position as a key facilitator of cross-border trade between China and the rest of the world. This strategic partnership will enable businesses to leverage the power of blockchain technology to streamline trade processes and access new markets with greater ease.
Zetrix’s multi-chain wallet is a testament to the company’s commitment to innovation and its unwavering belief in the transformative power of blockchain technology. By fostering interoperability and enabling seamless digital asset management, Zetrix is paving the way for a future of frictionless global trade, where businesses can operate with greater efficiency, transparency, and security.
Zetrix Verifiable Credentials: Adherence to W3C Standards and UN-CEFACT Recommendations
Zetrix is committed to ensuring that its verifiable credentials adhere to the highest standards of interoperability and security. This commitment is reflected in its compliance with both W3C standards and the recommendations of UN-CEFACT.
W3C standards provide a framework for the development and implementation of verifiable credentials, ensuring that they can be easily exchanged and verified across different platforms. UN-CEFACT recommendations, on the other hand, focus on the practical application of verifiable credentials in the trade and logistics sector.
By adhering to these standards and recommendations, Zetrix is ensuring that its verifiable credentials are both interoperable and relevant to the needs of the global trade community. This commitment to standards will play a crucial role in Zetrix’s mission to revolutionize cross-border trade and foster a more interconnected global economy.
About Zetrix
Zetrix is a layer-1 public blockchain that facilitates smart contracts and delivers privacy, security and scalability. Zetrix’s cryptographic infrastructure can be introduced to multiple industries to connect governments, businesses and their citizens to a global blockchain-based economy. Developed by MY E.G. Services Bhd, the cross-border and cross-chain integration with China enables Zetrix to serve as a blockchain gateway that facilitates global trade by deploying critical building blocks for Web3 services such as Blockchain-based Identifiers (BID) and Verifiable Credentials (VC).
About Xinghuo International
Xinghuo BIF is a national blockchain infrastructure supported by Ministry of Industry and Information Technology and led by the China Academy of Information and Communications Technology (CAICT). It provides services mainly to industrial Internet, makes breakthroughs in Internet identifier, increases the application of blockchain and drives the economy. With open construction strategies and governance model, Xinghuo BIF positions as a national blockchain infrastructure that provides service to the world and its construction was started in Aug 2020. On 3 Aug 2021, CAICT released BIF-Core, which marks the start of its primary chain operation and global service.
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