Crypto Assets in Indonesia Have Great Potential

Lovata Andrean

Crypto Assets in Indonesia Have Great Potential
Crypto Assets in Indonesia Have Great Potential

Rancakmedia.com – Crypto or Indonesian digital assets have enormous potential. Unexpectedly, recently a new crypto token player produced in Indonesia has emerged, namely IDM.

Chairman of the Indonesian Crypto Asset Traders Association (Aspakrindo) Teguh Kurniawan stated that the potential for crypto assets in Indonesia is still wide open. Especially with the development of the digital money sector which also continues to increase.

"The potential will continue to grow and develop, along with the development of the crypto sector as a whole," added Teguh.

Teguh stated that a consultant study stated that 11 percent of Indonesian people would be related to the crypto business. The study does not go into depth about potential transactions, but it is predicted that the number of individuals embracing crypto will increase.

"At least according to one expert named Onfo, it is estimated that at least 11 percent of Indonesian people will migrate to the crypto business," he said.

“Nothing is certain, but we hope that with a 3-fold growth in the number of crypto investment adoptions, the volume quantity will also be more or less like that,” he said.

Crypto Assets in Indonesia

The huge potential of crypto assets has also been underlined by Deputy Minister of Trade Jerry Sambuaga. Therefore, the government will regulate the trading of these crypto assets by creating a crypto exchange.

"The government realizes the great potential and high value of crypto, we at the Ministry of Trade want to build and operate a crypto exchange," said Jerry.

Jerry admitted that his party is currently reviewing, certifying, assembling administrative processes and technology for this exchange. At the earliest, the exchange will be launched in 2021.

“We, the government, want to organize and regulate in a more methodical, integrated and complete manner. "All of this is being launched through the use of a new exchange that will go live later this year," interjected Jerry.

Jerry stated that the potential for crypto asset trading is very large. From the statistics obtained by his party, from January to September this year alone the crypto asset transaction capacity has reached IDR 650 trillion. Per day, he estimates that the average could be IDR 2 trillion, maybe closer to IDR 3 trillion.

The magnitude of this potential is also demonstrated by the increasing number of participants, aka local developers, who are building crypto asset products. The newest is the IDM crypto token which was issued on October 28, 2021.

It is believed that the existence of this token can fund projects that have been prepared to operate. The project currently being implemented seeks to assist the government in developing a digital cooperative environment in Indonesia.

Regarding the potential of this IDM token, Teguh cannot say yet. The reason is, they don't yet know how it works and the problems that will be resolved with this IDM crypto token.

"Maybe later, if we understand how it works, its purpose, what problems will be solved, the technological process in the blockchain system, then we can respond," he said.

Conclusion Regarding Crypto Assets in Indonesia:

General Chair of the Asset Traders Association Indonesian Crypto (Aspakrindo) Teguh Kurniawan said the potential for crypto assets in Indonesia is still wide open. A study by a consultant suggested that 11 percent of Indonesians would be related to crypto businesses.

The government will regulate the trading of these crypto assets by creating crypto exchanges. The Governor of Jakarta, Jerry Teguh, has announced plans for a new crypto asset exchange to be launched later this year.

From January to September the crypto asset transaction capacity reached IDR 650 trillion. The newest is the IDM crypto token which was issued on October 28, 2021.

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Lovata Andrean

Hi, I'm Lovata, I'm not Ai but I am a content writer for SEO, Technology, Finance, Travel, Cooking Recipes and others. I hope this can be useful for all my friends. Thanks