Blockchain Examples in Indonesia: Innovations in Government, Banking, and Startups

Blockchain technology has revolutionized various sectors in Indonesia, from government and banking to startups. As a decentralized digital ledger system, blockchain offers transparency, security, and efficiency in managing data and transactions. This article explores examples of blockchain implementation in Indonesia across different industries, highlighting its role in the country’s digital transformation.

Basic Understanding of Blockchain

Blockchain is a technology that enables decentralized data storage and management. In this system, no single party controls the data stored on the blockchain; instead, it is maintained by a network of connected computers. This makes blockchain highly secure, transparent, and resistant to manipulation.

At its core, blockchain is a digital ledger that records every transaction made within a specific network. These transactions are grouped into blocks linked to the previous one, forming an immutable chain.

Government Blockchain Initiatives

1. Proyek Garuda: Digital Rupiah by Bank Indonesia

Bank Indonesia (BI) is developing the Proyek Garuda as a strategic step toward issuing a Central Bank Digital Currency (CBDC), which they refer to as the Digital Rupiah. 

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