Malaysia Unveils First Native Layer 0 Blockchain, Teiza
Malaysia's Finran Group has unveiled Teiza, the nation's first native Layer 0 blockchain. The protocol is designed to position Malaysia as a global hub for blockchain-driven digital innovation, aligning with the country's 13th Malaysia Plan which prioritises digital innovation.
Teiza is built as a fork of the globally recognised Tycho Protocol, offering interoperability between various Layer 1, Layer 2, and Layer 3 blockchains. This feature ensures scalability and efficiency for digital solutions. The introduction of Teiza is expected to provide momentum for Malaysia's National Blockchain Policy, integrating blockchain with artificial intelligence and broader Web3 technologies.
The Malaysian Communications and Multimedia Commission (MCMC) and the Ministry of Science, Technology, and Innovation (MOSTI) have already held discussions about adopting the Teiza system for their ecosystems. Teiza aims to enhance transparency, compliance, and innovation across both government and private sectors in Malaysia, supporting a wide range of digital ecosystems including regulatory compliance systems, financial infrastructures, and halal supply chains.
Finran Group intends for Teiza to become a driver of economic growth by fostering a robust blockchain ecosystem. With Teiza, Malaysia takes a significant step towards becoming a global leader in blockchain technology, positioning itself as a hub for innovative, secure, and efficient digital solutions.
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