JAKARTA, Indonesia – Citizens of Indonesia yearns to know more about the digital asset. Indonesians think that this country can develop cryptocurrency more with the help of technology.
According to Michael Handoko, the vice president of Commercial Tokoin, the rules in Indonesia are not very helpful when it comes to cryptocurrency. He mentioned on December 7, Saturday, that the laws in Southeast Asia are not extensively reinforced. Moreover, he also stated how he’s hoping for regulations to be implemented for cryptocurrency.
Handoko mentioned that cryptocurrency would steadily develop and grow since it has the kind of technology in the future. He explained that transactions are forbidden from using digital assets, yet blockchain is not prohibited. Furthermore, the visions that things can be deliberated with regulators.
Handoko stated that they would discuss regulations with the Financial Services Authority (OJK) and Bank Indonesia since blockchain is not forbidden.
Blockchain is a virtual transaction record as per structure. Records are called blocks, and these are connected in a list, which is called chains. It’s utilized to record dealings created with digital assets like Bitcoins and other digital coins.
Handoko doesn’t disagree that cryptocurrency is unpopular to Indonesian, and the challenge is relevant to education. On the other hand, she is thankful that the Indonesian government endures attempting to teach the public about it. People will get to know the effect of digital on their everyday needs.
Handoko also stated that teaching blockchain technology is helpful. He also shared that the government has vast roadshows on how to instill users from manual to virtual.
Another task is the query backer institution, as per Handoko. The state and public interrogated the guarantor association in cryptocurrency. It’s not declined. Thus, it’s needed because it transmits to security and comfort when putting funds in digital assets.
The problem is on all parties, as per Handoko, and the state is included in it. He shared that they are operating with the government. Also, he hopes that it can back the case up.
Tokoin successfully sold tokens via the Spotlight program of the exchange crypto scheme of KuCoin. After the success, this cryptocurrency is trusted by KuCoin to assist in building a community in the country. Moreover, it helps to establish immense blockchain acceptance, as well as industrialization 4.0 in the country.
The formation of Tokoin’s first drive is to quicken the development of Micro, Small, and Medium Enterprises (MSMEs). The way is by implementing blockchain, which can be utilized as a daily key for running ventures. Moreover, business people can build a virtual profile, and do virtual bookkeeping through Tokoin.