Indonesia will release and test its own digital currency


The fact that the Bank of Indonesia takes extreme measures against cryptocurrencies, such as bitcoin, does not stop him from thinking about releasing a digital version of the rupee. This is written by Jakarta Post.

According to the message of the Executive Director of the Bank of Indonesia on payment systems Susiato Devi, the digital rupee tests will begin that year. It is expected that the digitalization of the national currency will make payments with its use more effective.

“The tangible banknotes that we now use can be converted into digital money. Until such money was released by any country in the world,” she explained.

According to Susiato, the digital currencies of the Bank of Indonesia and other central banks, on the development of which they know, will differ from existing cryptocurrencies, as their rate “will be based on a certain value of assets.”

She also noted that when calculating the volume of emission of a new digital currency, the current position of the country’s currency system will be taken into account, as well as the level of inflation.

Earlier, the chairman of the Bank of Indonesia stated that the use of bitcoin violates the country’s currency law, according to which the rupee is the only legal means of payment in the territory of the island state.

Last week, the details of the plan for the issuance of a digital currency, which “will not necessarily be based on the blockсhain,” was published by the People’s Bank of China.

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