4 M’sian Distributed Ledger Tech Companies To Watch In 2018 (Part 2)

Behind the scenes…

Malaysian blockchain companies have been popping up across the nation, each with their own vision for a more decentralised future economy. With blockchain’s limitless scope to disrupt technology from all angles, the number of legitimate use cases for distributed ledger technology steadily rises, and more and more Malaysian technology companies are getting on board. 

With Blocfest just over a couple months away, we wanted to take the opportunity to introduce you to another round of homegrown Malaysian blockchain companies that are implementing distributed ledger technology into their tech solutions and business models.


In a nutshell…

HelloGold was founded in 2015 by Malaysian-local, Robin Lee, and prides itself as the world’s first Shariah-compliant gold digital application. It’s an innovative concept that aims to streamline the buying and selling process of gold through an incredibly handy mobile app.

HelloGold was built on the premise that gold products should be “simple and accessible for everyone”. They are strong believers that gold is the ‘safe’ asset to protect your savings, and the app enables users to obtain and sell gold in an affordable and secure way.

Via their HelloGold mobile app, users can buy and sell gold for as little as RM1. You can manage your account through their dashboard, and enjoy competitive market buy and sell rates. HelloGold removes the burden of users having to store physical gold as their 99.99% “investment grade gold” is fully insured and stored in a vault with state-of-the-art security.

HelloGold intends to utilise Ethereum’s smart contracts to optimise transparency and security, and will thus provide the foundation for a truly gold-backed cryptocurrency.

Robin Lee, (CEO, Hello Gold) – Photo credit: The Edge Markets

“The current use of blockchain is to support the core product (buy/sell/store gold). HelloGold plans to develop this platform to enable HelloGold customers to switch from HelloGold customer gold to cryptocurrency tokens, backed by investment grade gold (GBT). These tokens will be based on Ethereum ERC20 tokens and be fully backed by 1g of physical, investment grade (99.99%) gold, vaulted with HelloGold’s vaulting provider. Consequently, GBT should track the price of 1g gold. GBT utilises ERC20 tokens so they can complete the calculation features required autonomously. This will make the gold tradeable on exchanges that accept the tokens, outside the HelloGold system.” – Hello Gold Whitepaper

For more information on their HGT and GoldX token structures, check out their Whitepaper.

What to look out for?

HelloGold have been hard at work releasing their mobile app for Android and iOS, and have amassed well over 100,000 active users. They have also parterned with Boost, a mobile lifestyle wallet developed in Malaysia by Axiata Digital.

They have recently expanded operations into Thailand, and have been aggressively hiring to expand both teams in Bangkok and Kuala Lumpur.

In 2017, Hello Gold was one of the 8 startups out 400 startups across 44 countries selected to be selected under the UOB FinLab Fintech Accelerator programmes.

Find out more about Hello Gold here.


In a nutshell…

Neuroware was the very first company in Southeast Asia to offer enterprise solutions and services for blockchain companies. They promise to be the first mover and major disruptor in the Malaysian blockchain space, and set out to change the way we approach fintech and beyond.

They offer enterprises infrastructure needs, providing services like public blockchain hosting and private API network solutions. They also offer educational services to help bring blockchain awareness to corporate clients, as well as implementation services like end-to-end solutions, consultation and full-stack development.

What to look out for?

They’ve spent the last few years developing Cortex — the world’s first blockchain-agnostic operating system. It enables small to large businesses to enhance their security by leveraging blockchain technologies, and utilises an immutable, tamper-proof audit-trail across a variety of service transactions via annual subscription-based services. It houses a private API and simple control panel for users to navigate the modules.

They helped launch ATA-Plus – the world’s 1st regulated and licensed blockchain enhanced equity crowdfunding platform, who were also the first client to begin utilising Cortex.

Find out more about Neuroware here.


In a nutshell…

Etherscan is the dominant BlockExplorer for the Ethereum blockchain. For those unsure what a BlockExplorer is, it is essentially a search engine that gives anyone the ability to lookup, confirm and validate transactions that have happened on the Ethereum blockchain.

Etherscan was founded by Malaysian national, Matthew Tan, who has amassed over 15 years in the IT industry, with experience in managing, operating and developing technical solutions for clients across a variety of industries.

Matthew is also the creator of: Blockchain 2.0 Explorer, API & Analytics Platforms Etherscan.io (Ethereum Smart Contracts Platform), Blockscan.com (Counterparty Tech) and is also a Co-Founder of a 20 person internet and web software related services development company.

What to look out for…

Check out their resources page for a handy, sectioned out ‘bible’ of all things Ethereum-related.


In a nutshell…

WinApp is a simple but powerful platform built on Hyperledger, that combines payment, photo sharing and messaging into one place.

Through their WinPay system, users can quickly and securely send and receive money to friends, family and colleagues… for free! A really cool feature is that users who are in an emergency can quickly be crowdfunded by their friends if they are ever in desperate need of cash.

The WinApp Office in Kuala Lumpur

What to look out for?

Led by a team of 3 Malaysians, (Isma Daniel Abdullah, Mohd Amin Yuddin Yacon, and Shak Hassan), they raised MYR2,000,000 in seed funding in 2015 to execute the innovative chat application.

They use 256-bit encryption and blockchain technology to ensure secure money transfers and authorisation.

The app has gone live for both iOS and Android, and is being updated regularly.

Find out more about WinApp here.


With a raft of respected blockchain thought-leaders from Malaysia and around the world set to feature, Blocfest’s focus will be on blockchain’s immense potential in the Southeast Asian region, where the technology has already made great headway.

Blocfest is set to launch 26-27 September, and guests are invited to also join us for KL Blockchain Week.

Find out more about our speakers by clicking here.

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