Cryptocurrency is on the rise in Indonesia. In 2021, crypto trading in the country racked up a collective US$59.8 billion in transactions, while the number of Indonesians who have crypto assets grew to 7.4 million.
Industry experts have also pointed to the decentralized nature of blockchain as a solution to many of the problems the archipelago faces with its financial system, such as the inability to reach far-flung areas, the lack of access to secure financial services, and the high cost of digital transactions.
However, while much has been said about the potential of blockchain in Indonesia, it has yet to get off the ground, according to Pang Xue Kai, the CEO and co-founder of cryptocurrency exchange Tokocrypto.
“[People] keep claiming that blockchain tech has a lot to benefit Indonesia, but so far, we still haven’t seen a lot of this technology take form,” he says. “There’s a lot of groundwork that still needs to be done.”
In light of the slow development of Indonesia’s blockchain scene, Pang and his team decided to lead by example and spearhead mainstream adoption and use of the technology in the archipelago.
Continue reading: https://www.techinasia.com/blockchain-big-indonesia-tokocrypto-bigger
Industry experts have also pointed to the decentralized nature of blockchain as a solution to many of the problems the archipelago faces with its financial system, such as the inability to reach far-flung areas, the lack of access to secure financial services, and the high cost of digital transactions.
However, while much has been said about the potential of blockchain in Indonesia, it has yet to get off the ground, according to Pang Xue Kai, the CEO and co-founder of cryptocurrency exchange Tokocrypto.
“[People] keep claiming that blockchain tech has a lot to benefit Indonesia, but so far, we still haven’t seen a lot of this technology take form,” he says. “There’s a lot of groundwork that still needs to be done.”
In light of the slow development of Indonesia’s blockchain scene, Pang and his team decided to lead by example and spearhead mainstream adoption and use of the technology in the archipelago.
Continue reading: https://www.techinasia.com/blockchain-big-indonesia-tokocrypto-bigger
