Gibran Rakabuming Raka Aims to Boost Blockchain and Crypto Expertise in Indonesia
Gibran Rakabuming Raka, a vice presidential candidate in the upcoming Indonesian election, has announced his vision to accelerate Indonesia’s position as a leader in the digital revolution. As the running mate of presidential candidate Prabowo Subianto, Gibran aims to tap into Indonesia’s growing interest in blockchain and cryptocurrencies. During a recent political gathering, Gibran expressed his commitment to preparing experts in blockchain, cybersecurity, and crypto. Indonesia has already established itself as a key player in the global crypto landscape, ranking seventh on Chainalysis’ global crypto adoption index. With an estimated 18 million crypto investors in the country, there is a keen interest in this technology.
Challenges and Developments in Indonesia’s Crypto Relationship
While Indonesia has been working towards enabling crypto usage, there have been challenges. The country aims to launch its state-backed crypto exchange by mid-2023, run by a private-sector company. However, Bali Governor Wayan Koster suggested tightening rules around payments with crypto on the popular tourist island. Although cryptocurrency itself is legal in Indonesia, its use as a payment instrument is not allowed. Violators could face imprisonment and fines under Indonesian law. Recently, Hasan Fawzi was appointed as the head of fintech and digital assets oversight and innovation by the Indonesian financial services watchdog.
Hot Take: Pledging Support for Blockchain and Cryptocurrencies
Gibran Rakabuming Raka’s pledge to foster blockchain and crypto expertise in Indonesia demonstrates the country’s growing interest in digital assets. With Indonesia already ranking high on the global crypto adoption index, this commitment further solidifies its position as a key player in the industry. By cultivating expertise in blockchain and cybersecurity, Indonesia aims to drive economic growth and create more opportunities for its youth. Other political candidates are also expected to address cryptocurrencies during the upcoming debates, influenced by the discourse set by Prabowo Subianto and Gibran Rakabuming Raka. Overall, Indonesia’s embrace of blockchain and crypto showcases its determination to lead in the digital revolution.
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