10X Potential: The Blockchain Play You Might Be Overlooking

Will the Next Big Investment Be in Trust Itself?

In the world of investing, the perspective you start with often determines how far you can go and how much you can ultimately gain. When you approach a company with a long-term mindset and focus on its fundamental nature, you begin to filter out the noise: daily price swings, market rumors, and short-term results. Instead, you focus on what really matters, the factors that drive durable value over time.

Does the business have sustainable competitive advantages? Has it built trust with users? Is its culture one that supports long-term innovation? Does it have a clear, executable vision? And perhaps most importantly: can it generate consistent free cash flow over the next decade?

If the answer is yes, you’re likely looking at a business worth holding through cycles—one with the potential to compound value meaningfully over time. In this piece, I’ll apply that long-term lens to a business uniquely positioned at the intersection of digital public services, blockchain infrastructure, and regional expansion. The question we’ll explore: Can this company become a long-term compounder capable of delivering outsized returns over the next 10 years?

Why MYEG’s Wins Today And Whether It Can Keep Winning for the Next 10 Years

MYEG’s success begins with solving a painful and widespread problem: inefficiency in Malaysian government services. Long queues, form-filling confusion, and the reliance on third-party runners or agents are everyday frustrations for citizens. These inefficiencies are not just administrative hiccups—they are deeply entrenched, often supported by internal conflicts of interest where certain insiders and intermediaries benefit from maintaining the status quo.

By digitizing government services, MYEG eliminates these middlemen and streamlines the entire process. It significantly improves speed, transparency, and user convenience. What once required in-person visits and manual paperwork can now be completed online with a few clicks, saving time and reducing friction for millions of users.

MYEG’s core competitive advantage lies in its integration, add-on services and user experience. While some government agencies have begun offering their own digital platforms—such as the MyJPJ app for driver’s license renewals—these solutions remain fragmented. Citizens must still juggle multiple apps, accounts, and login credentials across different departments. MYEG, by contrast, offers a unified platform where users can access multiple services with just one account and password. This seamless integration builds strong user loyalty and creates a clear user-centric advantage.

Government departments, by nature, are unlikely to integrate easily. Most operate in silos, with separate systems, leadership, and budgets. Integration is often seen as a threat to departmental control and influence. Legacy IT infrastructure, conflicts of interest, and a general reluctance to adopt new technologies especially among senior civil servants further slow digital transformation. Even when individual departments go digital, the lack of cross-agency coordination results in fragmented user experiences that MYEG effectively solves.

As MYEG continues to onboard more services and users, the network effect grows stronger. With records, preferences, and data already stored on the platform, users are less likely to switch away. This convenience creates high switching costs and stickiness, deepening the economic moat. MYEG becomes not just a tool but a habit one that users return to out of familiarity and trust.

Another key reason for MYEG’s high-margin nature lies in its asset-light business model. Much of the heavy lifting—namely the upfront investment in digital infrastructure and system integration—has already been made. Once the platform is built, each additional user or service adds marginal cost, but generates high incremental profit. With low operating overhead and minimal need for physical infrastructure, MYEG enjoys excellent operating leverage and strong scalability, making it a textbook example of a tech-enabled public service platform.

Now, MYEG prove the scalability and durability of business by replicating what it has done in Malaysia in other emerging markets. It shows continued success. Now the revenue outside Malaysia is more than 35%. While platforms like Touch ‘n Go are emerging as partial competitors in specific verticals like road tax, parking, and car insurance comparisons, they haven’t yet ventured into MYEG’s more sensitive domains such as foreign worker services and integrated government services. These areas involve strict legal, data, and policy oversight and require deep, long-term relationships with government departments relationships MYEG has already established.

Looking forward, MYEG is further expanding its moat by building blockchain-based infrastructure, aiming to become an indispensable layer in digital identity, trade, and cross-border verification. If successful, this will not only defend its existing business but also open entirely new value pools, making the moat even harder to cross in next decade.

What is the big issue with digital world in next 10 years?

At its core, every digital interaction depends on trust—the belief that the identity, transaction, or information we see is authentic. In the analog world, trust was often enforced by institutions and intermediaries. But in the digital space, especially across borders, those traditional trust mechanisms no longer scale.

Southeast Asia’s digital economy is expanding rapidly, but so is cybercrime creating a trust crisis. A UN report estimates scam networks in the region generate nearly USD 40 billion annually, exploiting weak digital infrastructure, regulatory gaps, and outdated identity systems. In Malaysia alone, scams cost the economy USD 12.8 billion in 2024, equivalent to 3% of national GDP. At the same time, over 70% of Asia-Pacific consumers report growing concerns about privacy and digital data security, highlighting a region-wide erosion of public trust.

Even financial institutions like banks are becoming increasingly difficult to trust. Cases of credit card fraud, data leaks, identity theft, and other forms of digital crime are growing rapidly. With technologies like AI, it's now easier than ever to fabricate identities and manipulate information. Trust in digital systems is eroding. Bad actors exploit fragmented identity infrastructures, unverifiable data, and centralized authorities that are either slow to respond or vulnerable to breaches.

Trust, Reconstructed: The Case for Purpose-Built Blockchain Infrastructure

Blockchain offers a new way to build trust by using code and shared digital records instead of banks or middlemen. It makes information secure, transparent, and tamper-proof. But most existing blockchains weren’t designed for government or enterprise use. They started as tech experiments, not with real-world rules, regulations, or national needs in mind.

Because of this, they face big problems:

• Weak systems of control (too open for governments to trust)

• Poor communication between different blockchains

• Not reliable enough for national or regulated systems

• Damaged reputation due to hype, scams and misuse

So while blockchain can work, most current versions fall short for serious use. What’s really needed is a blockchain designed from day one to be secure, trusted, and ready for real-world, cross-border use like for trade, identity, or government systems.

This is why Zetrix was built

Zetrix is a sovereign-grade blockchain platform purpose-built for government and enterprise use. Unlike general-purpose blockchains, it is designed from the ground up to support regulatory compliance, cross-border trust, and institutional resilience. With native integration features such as legal smart contracts, verifiable credentials, and identity frameworks, Zetrix enables real-world adoption at national scale. Its partnerships with Malaysia’s MBI and China’s Xinghuo further strengthen its position as a secure, compliant infrastructure for cross-border trade and digital governance. it’s enterprise-native and built for public-sector transformation. Zetrix offers a third path—a balanced alternative to centralized control and fragmented blockchain ecosystems—by transforming blockchain into critical public infrastructure.

Using Peter Thiel x Nalanda Framework

Let’s evaluate Zetrix through the lens of Nalanda and Peter Thiel’s framework, Peter Thiel most successful investments—like PayPal, Facebook, Palantir, and SpaceX—were bold, first-mover bets with deep moats and long-term dominance, an approach well-suited for frontier technologies creating entirely new markets. This framework assesses breakthrough startups using core principles that drive the creation of monopoly-scale businesses.