<p>In the wake of its recent government-backed cryptocurrency<a href="https://medium.com/&#64;coinness.gl/indonesia-set-to-launch-national-cryptocurrency-exchange-in-july-8c9ce3fbb234" rel="noopener noreferrer nofollow"> exchange launch</a>, Indonesia is moving further forward to launch trials that employ blockchain technology within its public services sector.</p><h2 id="header-0">Blockchain-based land ownership records</h2><p>At the recent Blockchain Economy Summit held in Dubai, Tuhu Nugraha, the Principal of the Indonesia Applied Digital Economy and Regulatory Network (IADERN),<a href="https://cointelegraph.com/news/indonesia-blockchain-adoption-trials-certificates" rel="noopener noreferrer nofollow"> told</a> Cointelegraph that these trials will encompass the utilization of blockchain-based digital certificates for land ownership and certificates of competence within the education sector.</p><p>The executive believes that blockchain’s inherent attributes, which include characteristics such as immutability and transparency, can be harnessed to combat certificate fraud. By anchoring these certificates in blockchain’s secure ledger, the government can efficiently verify the authenticity of various digital certificates, which is a significant leap forward in ensuring the integrity of critical documents.</p><p>Nugraha is an advisor to the Indonesian government on blockchain and metaverse technologies. He emphasized the government’s collaborative approach to Web3 technology. Additionally, Nugraha revealed that the Indonesian government is working in close partnership with various blockchain-focused associations to conduct experiments and gather insights into the multifaceted implications of blockchain across diverse sectors. Instead of imposing rigid regulations, Nugraha maintains that the Indonesian government is committed to crafting regulations that spur innovation.</p><p>Cointelegraph also spoke with Grace Sabandar, Co-Founder of the Indonesia Blockchain and Metaverse Center (IBMC). Sabandar, an advocate of blockchain’s potential, emphasized the pivotal role of Indonesia’s youthful demographic on the basis that this dynamic demographic is inherently adaptable to new technology.</p><h2 id="header-1">Youthful demographic to capitalize on Web3</h2><p>Sabandar made the point that this younger Indonesian demographic has already demonstrated itself to be one of the world’s largest user bases for Web2 social media platforms such as Facebook and Instagram. On that basis, she believes Indonesia is poised to lead in the adoption of Web3 technology. She remarked:</p><p>“We want to be the leader, not only the user of technology, because now, because of decentralization, anybody can do something, anybody can create something.”</p><p>Furthermore, Sabandar highlighted the crucial educational role played by the IBMC in collaboration with the government, private sector stakeholders, media, and academia. Their mission revolves around enlightening the nation about the manifold benefits of blockchain, emphasizing transparency, the utility of smart contracts in business operations, the essence of decentralization, and other fundamental aspects.</p><h2 id="header-2">Realizing blockchain and Web3 potential</h2><p>Earlier this week, a report<a href="https://medium.com/&#64;coinness.gl/report-by-xangle-and-tiger-research-explores-indonesias-web3-potential-0ccea14120d2" rel="noopener noreferrer nofollow"> published</a> by South Korean crypto data platform Xangle in conjunction with Web3 consulting firm Tiger Research concluded that Indonesia has significant potential to grow its Web3 sector.</p><p>Reports in recent days have also demonstrated further instances of the use of blockchain technology in the country, with state-owned ID Food<a href="https://medium.com/&#64;coinness.gl/indonesian-food-industry-conglomerate-embraces-blockchain-tech-3f9cc45c0580" rel="noopener noreferrer nofollow"> collaborating</a> with Singapore’s D3 Labs to establish a blockchain-based fish trading process. In July, South Korean tech company Milk Partners<a href="https://medium.com/&#64;coinness.gl/milk-partners-launches-blockchain-powered-reward-points-system-in-indonesia-c1e7b1074499" rel="noopener noreferrer nofollow"> launched</a> its blockchain-based reward points service in Indonesia.</p><p>Indonesia’s blockchain development and adoption are being spurred on by the enthusiasm of its tech-savvy youth, collaborative partnerships, and a government dedicated to innovation and transparency. As it paves the way in the Web3 era, Indonesia seeks to leverage blockchain technology to benefit public services, foster trust, and lead by example in the global digital revolution.</p>

Indonesia to Launch Blockchain Trials to Enhance Public Services

Table of Contents

CoinNess Global

Other articles published on Oct 14, 2023

Alameda Research’s Shocking Confession ; Confidential Audio Reveals Misuse of FTX User Deposits

Stars Arena offers a $257K bounty and recovers 90% of the money that was taken.

Global Turmoil and Economic Concerns Dampen Crypto Rally!

SEC Opts Against Appeal in Grayscale Case, Enhancing Prospects for GBTC as Bitcoin ETF

5 Crypto Casinos in Slovakia That Every Gambler Must Know Of

Ferrari is now accepting payments in the US!

Join our free newsletter for daily crypto updates!