Why Is Malaysia One Of The Best Countries For Blockchain Technology Startups?

Malaysia is a growing Asian tiger and the country is the central hub for IT, Fintech, and all kinds of startups in Southeast Asia. Among hundreds of new and established businesses, LuxTag® also found its place under the sun. The Malaysian startup scene is vast and diverse as you can find famous names like Grab, AirAsia, Umobile, and many more. The rapid growth is not a surprise as investments doubled since 2006 and reached $1.45 billion.

The growing startup scene opened its doors for blockchain companies. Blockchain technology ecosystem in Malaysia is so broad and accessible that it became one of the main spots in the whole world for blockchain-based projects. You might wonder what caused this development. First of all, the Malaysian government is positive about the progress of blockchain and its contribution to the country’s economy and growth. Second of all, Malaysia has an ideal infrastructure to develop projects and distribute them around the whole region.

Not to mention, after China put strict regulations on blockchain-based systems and cryptocurrencies, many talented entrepreneurs moved to more open countries such as Malaysia. So, if you are thinking about expanding your business to this astonishing tropical country, we have some good news for you…

Malaysia — The Hub For Blockchain Projects

We can all agree that Malaysia is working hard to provide excellent conditions for blockchain infrastructure. However, only laws can’t ensure that the business landscape in the country will thrive. So what else has been done to establish more blockchain companies? Malaysia is proud of its flourishing economy and technological implementation. The government launched MiGHT (Malaysian Industry-Government Group for High Technology) to expedite technological enhancement. The goal of this group is to spread technological development within the country and increase the talent pool. So far the project is doing good and expanding further.

Read the full article on our official blog: https://luxtag.io/why-is-malaysia-one-of-the-best-countries-for-blockchain-technology-startups/