Malaysia is partnering with local firm Masverse to build a national blockchain infrastructure and advance its Web3 objectives. The partnership involves integrating Masverse's MasChain, a layer 1 distributed ledger, into various sectors including blockchain-based certification systems, supply chain traceability, and financial applications. Malaysia aims to revolutionize its digital economy and unlock new opportunities for businesses and public entities. Meanwhile, Japanese cosmetics firms are increasingly using quick response (QR) codes and near-field communication (NFC) tags to combat counterfeiting. Blockchain technology is also being considered to enhance consumer protection efforts through immutability and transparency. However, the steep costs and scalability issues associated with emerging technologies pose challenges for adoption, particularly for smaller brands.



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