On January 16, 2025, with the rapid development of digitalization in the ASEAN region, cybercrime and online fraud cases have significantly increased. The interoperability of digital identities between China and ASEAN countries has become key to combating cross-border and online fraud. Huang Tianshun, Managing Director of MyEG and co-founder of Zetrix, emphasized this point yesterday at the China-ASEAN Digital Ecological Cooperation Forum held in Bangkok.

Huang Tianshun (second from right), Managing Director of MyEG and co-founder of Zetrix, in a dialogue session with Mo Jialin (first from right), Vice President of Overseas Marketing at ZTE Corporation, Zhang Ziyan (second from left), Chief Marketing Officer of Huawei Asia Pacific, and Sanphachai Huvanandana (first from left), CEO of National Telecom Public Company Limited.

Focus on Cross-Border Digital Security

This forum was held concurrently with the 5th ASEAN Digital Ministers' Meeting, bringing together important leaders and policymakers from various sectors to discuss practical solutions for enhancing digital security and promoting cooperation.

Key speakers included:

• H.E. Zhang Yunming, Vice Minister of the Ministry of Industry and Information Technology of China
• H.E. Prasert Jantararuangtong, Minister of Digital Economy and Society of Thailand
• H.E. Dr. Kao Kim Hourn, Secretary-General of ASEAN

In a dialogue session titled "Building an Eco-Friendly Digital Future," Huang Tianshun emphasized the significant losses caused by cyber fraud to the economy and society.

Increasing Cybercrime Threats in the ASEAN Region

According to estimates by the United Nations Office on Drugs and Crime (UNODC), scams targeting victims in East Asia and Southeast Asia caused economic losses of up to $37 billion in 2023. Gobind Singh Deo, Malaysia's Minister of Digital Affairs, pointed out that from 2021 to April 2024, Malaysia lost 3.18 billion ringgit (approximately $700 million) due to online fraud, with over 95,800 victims.

MYEG's Role in ASEAN Cooperation

As an important member of the ASEAN-BAC Malaysia Circle, MYEG is committed to promoting regional initiatives for economic growth and digital security. Huang Tianshun reaffirmed MYEG's commitment to strengthening cross-border cooperation and actively advocated for an interoperable digital identity system to consolidate ASEAN's digital ecosystem.

Huang Tianshun, Managing Director of MyEG and co-founder of Zetrix, speaking during the dialogue session at the China-ASEAN Digital Ecological Cooperation Forum in Bangkok, themed "Building an Eco-Friendly Digital Future."

Why Interoperable Digital Identities Are Crucial for ASEAN

Huang Tianshun explained, "Regarding verification processes, many participating countries in the forum, including China, Malaysia, Singapore, and Thailand, have launched or are launching national digital identities. If countries can achieve real-time mutual recognition and localized verification of each other's digital identities, they can accurately identify online users, regardless of how realistic deepfake videos may appear."

He further elaborated on several core advantages of interoperable digital identities:

• Real-time cross-border identity verification to effectively curb and identify fraudulent activities.
• Enhanced trust in digital transactions, providing a safer environment for economic activities.
• Promotion of the digital economy, fostering regional cooperation, and boosting consumer confidence.

Driving Innovation with Blockchain Technology

Through its Layer 1 public blockchain Zetrix, MYEG has made significant strides in achieving cross-border interoperability by establishing an exclusive partnership with China's national blockchain infrastructure Astron-Xinghuo BIF.

This collaboration enables ZID Digital Identity to be issued as Web3 verifiable credentials (VCs), allowing individuals and businesses in China to digitize their national ID cards or business registration identities. These tamper-proof digital identities pave the way for a breakthrough towards a unified digital identity interoperability framework.

Paving the Way for a Secure Digital Future

As Malaysia assumes the ASEAN Chairmanship in 2025, MYEG is committed to driving innovation and fostering trust in the regional digital economy. With interoperable digital identities and blockchain technology at the forefront, MYEG will strive to assist ASEAN countries in embracing digital transformation while protecting citizens from the increasingly rampant threats of cybercrime.