The Central Bank of Indonesia plans to launch its own CBDC

The Central Bank of Indonesia plans to launch its own CBDC (central bank digital currencies). Indonesia will thus become another country that wants to create its own CBDC or rather sees huge potential in the future. It was said that the current pandemic helped the country in its decision-making, as Indonesia has seen a huge increase in online transactions over the past year. This trend can be seen basically all over the world, and we can conclude that other countries have decided for the same reason, as it is a huge step in the digitization of individual countries as well as the whole world. This report was specifically confirmed by the current Governor of Bank Indonesia, Perry Warjiyo, who stated that:

“BI plans in the future to issue a central bank digital currency, digital rupiah…as a legal digital payment instrument in Indonesia.”

As a next step, it was confirmed that the Central Bank of Indonesia is currently exploring all options to assist the country’s monetary policy or payment system. So, as this is a very complex process, we can expect it to take several more years for individual countries to start launching their own CBDCs. But it is great news, as it is the gradual digitization of the whole world.