May 29, 2024
Indonesian VP Candidate Gibran Raka Charts Path for Crypto Innovation
Policy & Regulation

Indonesian VP Candidate Gibran Raka Charts Path for Crypto Innovation

In a bid to empower the younger generation and foster growth in the digital space, Indonesian vice presidential candidate Gibran Rakabuming Raka, currently serving as the mayor of Surakarta, has unveiled a promise to strengthen the country’s talent in blockchain and cryptocurrency. The announcement was made during a political gathering where Gibran emphasized the importance of preparing the youth for the future by equipping them with skills aligned with emerging technologies.

Gibran expressed his commitment to providing opportunities for the youth in the digital realm, stating, “We will develop future talents with skills of the future.” The digital push outlined by the candidate encompasses not only blockchain and cryptocurrency but also extends to cybersecurity, artificial intelligence, and digital marketing.

During the event, Gibran declared his intention to cultivate experts in blockchain, crypto, and cybersecurity, reflecting a forward-looking approach to technology-driven fields. The move aligns with Indonesia’s growing emphasis on becoming a hub for Web3 technology and signals a departure from previous regulatory restrictions on cryptocurrency.

Gibran, the eldest son of the current Indonesian president, Joko Widodo, was selected as the running mate for Indonesia’s defence minister and presidential candidate, Prabowo Subianto, on October 23. The 36-year-old politician is now vying for the vice presidential role in the upcoming general elections scheduled for February 14, 2024.

Indonesia’s evolving stance on cryptocurrency is noteworthy. Despite a previous ban on crypto payments, the country is intensifying its push into the crypto space in 2023. On May 28, the government cracked down on tourists involved in crypto payments, issuing stern warnings of deportation or other criminal penalties. Subsequently, on July 21, Indonesia launched its national crypto exchange, closely monitored by local regulators. According to government statements, this platform is the country’s sole legal space for the exchange of digital assets.

As Indonesia navigates its dynamic relationship with cryptocurrency, Gibran’s commitment to nurturing talent in blockchain and crypto aligns with the broader global trend of recognizing the significance of these technologies in shaping the future landscape of finance and technology. The outcome of the upcoming general elections will likely play a crucial role in determining the direction of Indonesia’s policies towards blockchain and crypto in the coming years.


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