Deputy Minister Of Trade Jerry Sambuaga Pushes Indonesian Crypto To Reach World Market

Deputy Minister of Trade Jerry Sambuaga. (Photo: Doc. Antara)

JAKARTA - Deputy Minister of Trade Jerry Sambuaga stated that his party is trying to encourage various crypto tokens from Indonesia to penetrate the world market.

"If Indonesian people buy bitcoin, buy ethereum, that's normal. But if people in Africa, people in Europe, people in America buy our tokens, that's just something, that's what we're trying to encourage, that's what we're trying to highlight," he said in Blackarrow Conference in Jakarta, reported by Antara, Thursday 30 June.

According to him, crypto assets can be used as an instrument to add value to Indonesia's exports.

Based on data from the Central Statistics Agency, Indonesia's trade balance as of December 2021 recorded a surplus of 35.34 billion US dollars, reaching a record high since the last 15 years. In May 2022 also experienced a surplus of over 19.79 billion US dollars.

"This is still lying on conventional products such as Crude Palm Oil (CPO), iron ore, and nickel, not to mention the export value of digital products," he said.

If you look at the data as of December 2020, he continued, the value of crypto transactions reached IDR 64.9 trillion and increased significantly in December 2021 by IDR 859.4 trillion.

The increase in registered accounts in crypto transactions also experienced a high increase from 2.2 million users in 2020 to 14.4 million in May 2022, more than users on stock exchanges.

"There are indeed more transactions on the stock exchange, but I believe that with the potential it has, it may exceed that in the future," said Jerry.

Blackarrow Conferences is an organizer of high-level professional business conferences targeted at management levels in a number of industry sectors.