Khazanah Nasional Berhad, the sovereign capital fund of the Malaysian government, in association with its subsidiary i2M Ventures SDN BHD, today launched a Blockchain Village at Medini (BVAM) to facilitate the development of blockchain ecosystem in Malaysia.
According to managing director of i2M Ventures, Zulfiqar Zainuddin, BVAM intends to develop the blockchain ecosystem in Medini City to offer service providers that include institutions and blockchain start-ups and shareholders, the podium to enhance their technology further and encourage acceptance in the market.
After the launch ceremony, Zulfiqar told reporters that “BVAM is also projected to bring in 1,200 high-value and knowledge-based jobs by 2022 besides generating new investments in Medini.” He further added that the availability of talent remained a key factor in the development of the blockchain ecosystem.
At present, a Japan-based firm, OK Blockchain, has trained over 107 employees through its GBS Iskandar Campus Connect Initiative, a collaboration between the business house and academic institution assisted by i2M.
BVAM is an extension of the GBS Iskandar programs, which are estimated to create RM562 million investments by 2022.
Khazanah Nasional Berhad has been entrusted with the responsibility to ensure the growth of the nation’s long-term capital through different commercial and strategic ideas. Khazanah’s commercial aim is to raise financial assets and spread the sources of revenue for the country. Its strategic objective is to invest in strategic assets that fetch long-term economic profits. The core philosophy of Khazanah emphasizes on achieving appropriate risk-adjusted financial returns, creating sustainable returns, and assimilating ethical and accountable investment instruments.