05 Nov 2018 Josphat Kariuki
The World Bank: Disruptive Technologies Could Be the Key to Indonesia’s Affordable Housing
Held at Jakarta, the Disruptive Technologies Workshop revealed that Blockchain, Drones, Big Data, AI (Artificial Intelligence) and E-wallets are set to have a key role in transforming the country’s housing sector.
Indonesia’s Ministry of Public Works hosted the event with the support of the National Affordable Housing Program (NAHP) from the World Bank.
Over 150 participants attended the event, including lenders, local public agencies, developers and community organizations.
Currently, Indonesia’s cities are growing rapidly at 4.1% per annum – faster than its Asian neighbors. However, the country won’t fully realize the benefits of urbanization – poverty reduction and economic growth - until there is an increase in access to basic services. That would allow the government to invest in affordable housing for the residents.
About a million houses are needed every year to meet the rising demand in Indonesia by 2030. The country’s current housing situation aligns with their rapid technological growth. Local giants are rising and revolutionizing various aspects of life in Indonesia’s booming economy.
Participants of the workshop were keen to note that various budding technologies like iBuild, Go-Jek, Property Pricetag, and IBM Blockchain could change how Indonesia approaches housing.
iBuild is a citizen-centric mobile application built to facilitate home self-construction processes. The mobile platform will help users purchase materials, find contractors, get project quotes, make payments and rank quality services. E-wallets will track government subsidies to facilitate self-build projects and eliminating fraud issues.
Built for public agencies, lenders, and developers, Property PriceTag is designed to use big data and other innovative technologies to track demand and supply in housing. That will enable companies and policymakers to come up with timely and informed decisions regarding the housing sector. NAHP also expects to incorporate the technology in its real-time housing database for decision-making purposes.
With disruptive technologies changing from a luxury to a necessity in any advanced economy, Indonesia expects to formalize the informal and empower informed decision-making. That will in turn radically reinvent the housing value chains, improving millions of lives.
Of course, there are serious implications to consider – like with any other technology, but it would be well worth the benefits.
Blockchain World Bank