The central bank of Indonesia is willing to issue a digital form of its national currency as a way to “fight” private digital assets. The financial institution believes a CBDC would be more “credible” than bitcoin or the altcoins.
Indonesia and its CBDC Efforts
Bank Indonesia (BI) – the country’s central bank – displayed its intentions to launch a central bank digital currency (CBDC) earlier this year. In May, Governor Perry Warjiyo asserted that it is on its way without revealing a specific launch date.
Back then, BI noted that during the COVID-19 pandemic, locals have switched from cash to digital payments. As such, a CBDC monitored and controlled by the authorities would be the best option for that monetary transition, the institution opined.
According to a recent coverage by Bloomberg, Bank Indonesia now has another reason to issue a digital rupiah: to “fight” cryptocurrencies which cause a significant impact on the nation’s financial network. Juda Agung – an
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