Specialised In Driving User Growth For Crypto & Blockchain Companies In Indonesia

Yes!
Our first hand experience clearly tells us that blockchain and blockchain solutions are becoming in demand. Key factors :

1. Establishment of blockchain specific business registration categories, used when any new company is set up.
2. Largest bank in Indonesia ran a successful nationwide blockchain competition in 2019.
3. Universities taking tangible interest.
4. Many large corporates and government ministries actively starting to look at how blockchain can be implemented, some have reached pilot stage.
5. Increasing number of corporate members joining Asosiasi Blockchain Indonesia (the Indonesian Blockchain Association)

Yes!

In 2019, the ministry of Trade legally classed digital assets as a commodity. Note that the only legal tender in Indonesia is still the Indonesian Rupiah.

Regulation for cryptocurrency exchanges and custodians has also been released back in 2019. Both the above help ensure the safety of any blockchain or cryptocurrency investments in Indonesia, and boosts consumer confidence.

Yes! there are currently no restrictions around foreign ownership.

As of January 2020, there are approximately 3,000,000 cryptocurrency traders in Indonesia, spread across over 20 local and international cryptocurrency exchanges. This represents just over 1% of the total 260 million population.

In a recent survey (July 2019) by Coinvestasi.com, 34% of Indonesians between 16-45 years old said they would buy Bitcoin in the upcoming 12 months.

• 4th largest population with 260 million people, with a median age of 30.2 years old & rapidly growing smartphone penetration.
• Clear government regulation on digital assets plus welcoming stance towards technologies such as blockchain which help drive Indonesia’s Industry 4.0 initiatives.
  - “Millenials must understand; artificial intelligence, bitcoin, cryptocurrency, virtual reality, internet of things….” Joko Widodo - President Republic of Indoensia.
• Convergence of two key metrics:
  - 70-80% of the population is unbanked
  - 142 Million e-wallet users, with a value set to exceed $15 billion in 2020
  The concept of traditional banking is being overtaken by ewallet and new wave tech based players. This cultural leap paves the way for crypto and decentralised finance (DeFi) applications, especially because the user experience of transacting using e-wallets systems is near identical to blockchain based transactions.

As of January 2020, there are 14 Indonesian cryptocurrency exchanges in addition to international exchanges operating in Indonesia.

As of January 2020, the largest cryptocurrency exchange operating in Indonesia is Indodax, with over 1,800,000 registered members.