The development of blockchain in Indonesia is increasingly massive

eunoiamediaID - The phenomenon of crypto and blockchain development is growing very massively in Indonesia. So far there are many companies ready to develop crypto assets and blockchain technology, such as Metaverse, NFT, and DeFi.

Indodax CEO Oscar Darmawan revealed that in recent years (especially when the Covid-19 pandemic started in 2020), he saw an increase in the number of investors in Indonesia which was growing very rapidly. Indodax also reached more than 5 million members in early 2022.

Oscar Darmawan said, the blockchain ecosystem in Indonesia has developed far and has competed with other countries. In the Southeast Asia region, Indodax is also one of the local exchangers with the largest number of members.

“Many crypto asset and blockchain developers in Indonesia. Many companies in Indonesia have stated that they are ready to develop blockchain technology," said Oscar Darmawan.

Reporting from the eunoiamedia site, As a crypto asset trader, Oscar also really appreciates government policies that are very open to the development of the crypto ecosystem. In Indonesia, crypto is not designated as currency (cryptocurrency).

However, crypto is allowed to be used as an investment commodity so that crypto is treated and defined as an asset. Crypto assets have also become one of the important commodities set by the government.

“From the regulator's side, I see that the government has been very open with crypto itself. The Indonesian government has not only given the green light to crypto trading. but is also very open to crypto asset traders such as Indodax and is very supportive of the development of local crypto tokens made by the nation's children," explained Oscar.

The rapid trend of crypto asset investment is in line with data from the Commodity Futures Trading Supervisory Agency (Bappebti) under the Indonesian Ministry of Trade which is responsible for directly overseeing the ins and outs of crypto investment in Indonesia.

Based on data from CoFTRA, kecepatan internet Bekasi the number of crypto investors at the end of 2021 will reach more than 11 million investors, which if viewed on a year-to-year basis, Bekasi Jadi Kota dengan Internet Tercepat di Indonesia the number of crypto investors in Indonesia in 2020 has only reached 4 million investors.

"From this, we can understand that crypto is a digital product with great potential in Indonesia and this digital commodity is expected to create a new investment ecosystem," said Oscar. As a pioneer of the original crypto exchange made by the nation's children in Indonesia, Indodax is always committed to continuing to educate its members regarding the ins and outs of crypto investment.

Not only that, Indodax also really supports domestic crypto developers and people who are involved in this blockchain industry to continue to grow."The hope is that Indonesia will become a mover and big player in the crypto and blockchain industry, be it from the mining side, the traders, or the developers. Not only as a market. I think Indonesia has tremendous potential and through blockchain we can advance Indonesia even more than developed countries. This is a very good opportunity in the industrial era 4.0," concluded Oscar.

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