Blockchain
Early 2022: Blockchain Development in Indonesia Is Getting Massive
The phenomenon of crypto and blockchain has grown massively in Indonesia. Many companies are ready to develop crypto assets and blockchain technology namely Metaverse, NFT, and DeFi.
In the past few years (especially since the COVID-19 pandemic began in 2020), Oscar Darmawan as the CEO of Indodax (the biggest and most trustworthy crypto exchange in Indonesia) seen a rapid increase in the number of investors in the country. Indodax itself has more than 5 million members in early 2022.
Oscar Darmawan said the blockchain ecosystem in Indonesia has developed so much and emulated other countries. In the Southeast Asian region, Indodax is also one of the local exchanges with the most members.
“There are many crypto and blockchain asset developers in Indonesia. As a matter of fact, there are many companies in Indonesia stating that they are ready to develop blockchain technology,” said Oscar Darmawan.
As a crypto asset trader, Oscar greatly appreciates the government’s policies that are really receptive to the crypto ecosystem. In Indonesia, crypto is not authorized as a currency or payment method. Crypto is only authorized as investment, hence crypto is treated and defined as assets. The government has recognized crypto assets as one of the important commodities.
“From the regulator’s point of view, I see that the government has been very receptive to crypto. The Indonesian government not only gives a nod to crypto trading but is also very open to crypto asset exchanges like Indodax and strongly supports the development of crypto tokens created by the local creators,” explained Oscar.
The rapid trend of investment in crypto assets is in line with data from the Trade Ministry’s Futures Exchange Supervisory Board (Bappebti) which is responsible for directly overseeing crypto investment in Indonesia. Based on data from Bappebti, the number of crypto investors at the end of 2021 has reached more than 11 million, increasing significantly from 4 million investors recorded in 2020.
“We can see that crypto is a digital product that has a huge potential in Indonesia and this digital commodity is expected to create a new investment ecosystem,” said Oscar.
As a pioneer in Indonesia’s crypto exchange, Indodax has always committed to educating its members all about crypto investment. Moreover, Indodax also strongly supports domestic crypto developers and people in the blockchain industry to continue to grow.
“Hopefully, Indonesia will become a big player and the driving force in the crypto and blockchain industry in terms of mining, traders, as well as developers, not only as a market. I think Indonesia has tremendous potential and through blockchain, Indonesia can forge ahead in more advanced areas than developed countries. This is a very good opportunity in the industrial era 4.0,” Oscar concluded
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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