Digital rupiah (Indonesian currency) and blockchain
Digital rupiah is a digital currency that will be issued by Bank Indonesia and is the same as the physical rupiah used in transactions in that country.
Digital rupiah can be used to make transactions such as payments, transfers, and purchases and can be stored in a secure digital wallet. The digital rupiah is expected to increase transaction efficiency and security, as well as reduce the need for physical money.
Currently, Bank Indonesia is still in the digital rupiah testing stage and has not announced when it will be officially launched.
Digital Rupiah and Blockchain
Digital rupiah can be issued and managed using blockchain technology. Blockchain is a system that stores data in a distributed network, which makes it possible to record transactions without the need for a central authority. This makes transactions with digital rupiah more secure and transparent because no one entity has control over the system, so there is no risk of hacking or data manipulation.
Thus, digital rupiah issued using blockchain technology is expected to increase transaction efficiency and security.
Reference : https://www.bi.go.id/id/rupiah/digital-rupiah/default.aspx
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