Wednesday
December 18
2019

Rise of Blockchain in Indonesia Brings Promise of Greater Financial Inclusion

Around the world, from small startups to big MNCs, many have embraced and integrated this technology in various capacities, in their businesses. In the Asian subcontinent, Indonesia was quick to emerge as a forerunner in the race for blockchain adoption.

In fact, Bank Indonesia (BI) was one of the first institutions in the country to announce the launch of their own digital currency, backed by blockchain technology.

Since then, the country has come a long way and displayed great vigour in the acceptance of blockchain. An Indonesia Blockchain Association was established back in 2018 and it has been a key player in the formation of a strong, local blockchain community. What’s incredible is how blockchain is being used by many startups to empower marginalized sections of society and encourage more economical business practices on their part.

Photo courtesy of Christian Ditaputratama.

Source: e27 (link opens in a new window)

Categories
Finance, Technology
Tags
blockchain, emerging markets, financial inclusion, startups