As a startup technology, blockchain is increasingly becoming the subject of public discussion. However, few understand what blockchain technology is and what its uses are. Therefore, Kadin will collaborate with the blockchain community network, especially the Indonesian Blockchain Association (ABI) to be more active in advocating and educating the technology widely so that its use and benefits can be immediately understood and accepted by the wider community. In addition, Kadin is also ready to become a partner of the Government in drafting regulations related to blockchain implementation.
“We hope the implementation of the” Blockchain Applications And Economics Forum 2018 “program can provide a good understanding for all stakeholders of the benefits, opportunities, challenges and implementation of blockchain technology in Indonesia,” said Rico Rustombi, Deputy Chairperson of Kadin Indonesia for Logistics and Chain Management Supply, when giving a speech at the Blockchain Applications & Economics program 2018 Forum at the Shangri-La Hotel, Jakarta, Tuesday 09/10/2018.
Rico explained, initially blockchain technology was still being used only in digital currency or cryptocurrency. However, over time, this technology is realized to be utilized in many sectors, either partially or comprehensively. Credit Suisse’s survey in 2017 shows that blockchain technology has been used in the manufacturing & consumer products sector, reaching 58%, life sciences & health care reaching 53%.
“As for the technology, media and telecommunications sectors, approximately 48%, and the financial services sector reached 36%,” Rico said.
The encroachment of blockchain technology into various sectors, according to Rico, is an inevitable fact given the advantages of this technology. With a recording system or database for distributed transactions or decentralized on the network, this application presents a data security system that is robust and hard to hack.
“Another advantage of the blockchain is the efficiency and transparency of the system built” Rico said.
According to him, Indonesia has the potential to grow as a digital technology giant. Two points of worth that should be put forward are that the country has the highest growth of internet users and users of smart phones in Asia. In addition, Indonesian internet users are also known to be dominant on social media. This advantage, in Rico’s view, can be elaborated to support the development of the id blockchain of the country.
Rico said, Kadin had four input points regarding the development of Blockchain technology in Indonesia:
1. In Indonesia, according to the task mandated by the law, together with associations and associations, it will be more active in advocating and educating blockchain technology widely so that the technology can be immediately understood and accepted by the wider community, including from corporate and government environments.
2. Kadin encourages businesses to be more active in exploring and implementing blockchain technology, to improve efficiency and competitiveness and remain relevant amid global business challenges.
3. The government needs to actively formulate regulations related to blockchain technology, so that business actors and other stakeholders gain legal certainty from the application of the technology.
4. The government needs to take the initiative to implement blockchain technology in the public service sector, thereby increasing transparency, speed and accuracy in serving the public.
Regarding regulation, according to Rico as a technology instrument, Blockchain will still run without the need to wait for regulation. Regulations are needed when the implementation of the technology touches aspects of legal guarantees or requires legal certainty for the parties involved.
Similar opinion was conveyed by the Chair of the Indonesian ICT Standing Committee and Logistics of Indonesian Chamber of Commerce, Elisa Lumbantoruan on the same occasion. He explained, empirically regulations are indeed following the development of technology. “Digital economy always starts with deregulation. The regulation will follow according to the nature of the technology, “Elisa said.
Therefore, he encouraged businesses that have direct interests with blockchain technology to not hesitate to implement the application. The government will certainly see the impact of the presence of the new technology in the implementation perspective. Regulators will come in time to ensure the implementation of technology does not harm any party.