The Indonesia Blockchain Hub was launched in Jakarta this week, described as a center for the sharing of industry knowledge, both locally and internationally.
The centee was opened in partnership with the Indonesia Chamber of Commerce (KADIN), Indonesia Blockchain Association (ABI), BEKRAF and HARA, an agritech startup.
The ABI has become instrumental in promoting blockchain in the South East Asian country through accelerating understanding, utilization, advancement and technological inventiveness in relation to the fourth industrial revolution. South East Asia’s largest economy is seeing both public and private sectors investing in applying blockchain technology to address issues surrounding the storage and application of data within the country in a number of sectors.
Banks for one, are looking at DLT with more interest, as discovered by a survey published last year indicating that about 80% of financial institution executives see blockchain impacting future markets. Rico Ustahavia Frans, director of digital banking and technology at Bank Mandiri, Indonesia’s second-biggest bank by assets, said it was currently looking at applying blockchain, once regulators had formulated guidelines for banking and financial institutions.
The launch of the new hub has to be a feather in Indonesia’s cap and signals its intent to become a significant player on the world stage in adopting the new technology. HARA CEO and co-founder of the hub, Regi Wahyu, sees blockchain being integrated into a range of areas of Indonesian society:
“We believe that data transparency as enabled by blockchain technology will help the bottom of the societal pyramid to improve their welfare… [which] will lead to improvement in business and economic performance. Based on HARA’s experience… there remain challenges in explaining the socio-economic impact of blockchain for business, regulators, and the society in general.”
Wahyu added that there is a need in the country for a platform which can extend blockchain knowledge in the community, one of the aims of the new hub. The Indonesia Blockchain Hub along with the IBA is now one of a growing number of bodies set up to support the dissemination of blockchain awareness in the country and share information. Another is the blockchain-focused coworking space Blockchain Space.
A number of government institutions, including the postal service, now utilize blockchain solutions across the country as its deployment spreads to different sectors of society.
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