12 Nov 2024 Samantha McLauren
Indonesia Blockchain Week: Bridging Excellence With Future Innovation
Indonesia Blockchain Week (IBW) has become a pivotal event in the global blockchain landscape, drawing attention from industry leaders, investors, and enthusiasts alike. Here’s a look back at the remarkable achievements of previous IBWs and what attendees can expect in 2024.
Current Highlights of IBW 2024
The upcoming IBW 2024 promises to be even more influential, with key support from the Indonesia Financial Service Authority. The event will feature the participation of crucial regulators and organizations, including:
- Indonesia Central Bank (BI)
- Indonesian National Police (Polri)
- Commodity Futures Trading Supervisory Agency (BAPPEBTI)
- Indonesian Chamber of Commerce and Industry (KADIN)
IBW 2024 will also host more than five leading Indonesian banks and over 100 tech companies, all exploring innovative blockchain use cases and financial solutions. Attendees can look forward to keynote speeches from prominent figures such as:
- Richard Teng, CEO of Binance
- Novi Maryaningsih, Deputy Director of the Payment System Policy Department, Indonesia Central Bank
- Djoko Kurnijanto, Head of the IAKD Regulation and Licensing Department of OJK
- And many more
Why Indonesia for Blockchain?
Indonesia stands out as one of the most attractive investment destinations in Southeast Asia for several compelling reasons:
- Pioneering Regulation and Strong Government Support
Indonesia has confidently positioned itself as a leader in Southeast Asia by being the first country in the region to implement comprehensive cryptocurrency regulations. Notable milestones include:
- 2020: Bappebti issued regulation No. 5, creating a legal framework for trading crypto assets, including registration and reporting requirements for exchanges. As a result, Indonesia has developed one of the largest retail crypto markets in Southeast Asia, with 16 million registered users.
- 2024: OJK launched a regulatory sandbox program for digital financial innovations, including crypto, allowing businesses to test new solutions under regulatory oversight.
- Growing Market Potential
With over 16 million crypto users in 2023 and a projected digital economy reaching USD 146 billion by 2025, Indonesia is on the fast track for blockchain and crypto ventures.
- Strategic Location
Jakarta, as Indonesia’s economic powerhouse, contributes 17% of the national GDP and is home to 80% of the country’s leading financial institutions. It also serves as the headquarters for key regulatory bodies such as BI, OJK, and Bappebti.
Why Should You Attend IBW 2024?
This year’s event will focus on three key blockchain themes, highlighting immense growth opportunities in Indonesia:
- Cryptocurrency and Digital Assets
Indonesia is Southeast Asia's largest retail crypto market, with over 16 million registered users in 2023. By 2025, this number is expected to rise to approximately 28 million, representing around 10% of the country’s total population. Tokocrypto, a subsidiary of Binance, will share insights on crypto trends and the regulatory landscape in Indonesia.
- Real-World Asset (RWA) Tokenization
The global market for tokenizing real-world assets is projected to exceed USD 16 trillion by 2030, with Indonesia's market expected to reach approximately USD 88.5 billion in the same timeframe. D3 Labs, a leading tokenization infrastructure provider, will showcase how tokenization can enhance liquidity and transparency in sectors such as real estate, bonds, and commodities. Their collaboration with Saison Capital, Japan’s premier credit card issuer, highlights the innovative partnerships shaping the future of finance.
- GameFi (Blockchain Gaming)
Indonesia is quickly emerging as a major gaming market in Southeast Asia, projected to generate USD 4.5 billion in revenue with an estimated 100 million gamers by 2030. Confiction Labs, a leading Web3 game studio, will illustrate how blockchain technology is creating new opportunities for gamers and developers alike. With its rich potential and robust support from regulatory bodies, Indonesia Blockchain Week 2024 is set to be an unmissable event for anyone interested in the future of blockchain and its transformative capabilities. Join us in shaping the future of this dynamic industry!
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