Embracing Blockchain Technology in Indonesia for a More Transparent Future
Jakarta, 9 May – The buzz around blockchain may be here to stay, but we might wonder why a technology offering so much good for society is not popular in Indonesia.
A blockchain is a shared and immutable record of information that no single individual controls. So, imagine you are conducting a transaction with your friend where you must send IDR 100,000. Everyone in the network will receive that notification without a particular “middleman ” keeping a copy.
“With this technology, we can make the system most transparent and enhance its security,” said Lalu Raynaldi Pratama Putra, the IT Security Researcher Lead at ITSEC Asia.
(Photo Editor: Mufti Warits)
Indonesia continues to advocate for this adoption, but challenges such as infrastructure and regulation are among the factors that hinder organizations from doing so.
“So far, we see how the finance industry is adopting this technology, but there are other things to consider before other industries can fully realize their potential,” adds Lalu.
A sandbox approach should be used to ensure that the blockchain can be useful to many. This approach allows for a safe space to implement both successes and errors, which can be used to create a knowledge bank.
(Photo Editor: Mufti Warits)
The world is still facing a shortage of this specialist despite a more than 100% increase in demand. A study by LinkedIn and OKX between 2019 and 2022 indicated that scouting for them in the digital realm is difficult since they do not make their profiles available to the public.
Lalu, who shared this with our Global Class students, emphasized that the industry is filled with untapped potential. Finding opportunities in this field can open doors for growth; thus, expert sessions like this are chances to showcase potential careers that one can pursue right after graduation.
“We need fresh talent because we can fast-track the development in this field,” concluded Lalu.
(Photo Editor: Mufti Warits)
In conclusion, blockchain offers significant benefits for enhanced transparency and security. However, its growth in Indonesia is hindered by inadequate infrastructure and regulatory challenges. Still, there is substantial potential, particularly if we adopt a cautious, step-by-step approach, such as employing sandboxes for experimentation. As the need for blockchain professionals increases, attracting new talent and raising awareness will be crucial to progress. With adequate support, this field could present exciting opportunities for future generations.
Words by: Hamzah Ramadhan