Indonesia Eager to Lead in Web3 Adoption, Backed by Youth Engagement and Government Support
Summary:
Indonesia is emerging as a significant player in the world of cryptocurrency and blockchain technology, looking to lead in Web3 adoption. This shift comes as a result of a young, tech-savvy population, and cooperation between the government, private sector, and academia. The Indonesian government is actively working to promote innovative blockchain uses and spur its adoption, including potential applications in public services for land title verification and educational certifications.
Indonesia is emerging as a focal point for cryptocurrencies and blockchain technology after the inauguration of its state-supported cryptocurrency exchange. This Southeast Asian nation aims to ascend within the echelons of Web3 tech, say key figures at the Indonesian Blockchain and Metaverse Center (IBMC) and the Indonesia Applied Digital Economy and Regulatory Network (IADERN). The duo expressed their views during a recent gathering of cryptocurrency leaders in Dubai.
Indonesia’s 270 million-strong populace, comprising significantly of young tech-savvy individuals, is leading the nation's digital transformation. These younger demographics are swift to adopt new technology, hence the substantial usage of social media apps such as Facebook and Instagram in Indonesia.
Speaking at the Blockchain Economy Summit in Dubai, Grace Sabandar, co-founder of IBMC, suggested that with sizable youth engagement in digital tech, the nation is prepared to transition into being a leader in Web3 adoption. Her vision is not just to use but also to dictate the trajectory of these technologies.
Sabandar elaborated on how they were working alongside diverse fields including the government, private sector, media, and academia to familiarize and educate the populace regarding Web3 technologies. She underscored the importance of educating people on the advantages of blockchain technology, smart contracts, and decentralization.
Having a perspective from a government standpoint, Tuhu Nugraha of IADERN, emphasized the government's open approach to Web3 technology. As a government advisor on blockchain research, Nugraha spoke on how the Indonesian government collaborates with several blockchain-focused organizations to conduct experimental studies and comprehend the real-world implications of the technology.
Highlighting the government's progressive stance, Nugraha asserted that the authorities are eager to drive innovation through relevant regulations rather than imposing restrictive measures. He also disclosed the government's ambitions to test blockchain technology in public services. Proposed trials include verification of land titles and educational qualifications through blockchain-based certificates, which he believes could hinder certificate fraud and make legal validation easy using on-chain data.
Published At
10/12/2023 1:40:14 PM
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