BI Governor: Digital Rupiah Is A Welfare, Main Transaction On Metaverse

BI Governor Perry Warjiyo (Photo: Capture BI Youtube screen)

JAKARTA - Take a walk to Prambanan Temple, don't forget to take a selfie in the courtyard. Digital rupiah is a necessity, future digital transactions.

Demikian bait pantun yang disampaikan oleh Gubernur Bank Indonesia (BI) Perry Warjiyo saat membuka talkshow Birama (BI Bersama Masyarakat), yang merupakan forum dialog bank sentral dengan berbagai pihak untuk mensosialisasikan rencana peluncuran rupiah digital.

According to Perry, digital rupiah is one of the important milestones in economic transformation that will make Indonesia more advanced.

"Digital rupiah is the only legal digital payment tool (in the form of digital currency) in Indonesia issued by Bank Indonesia," he said in a virtual channel on Monday, December 5.

Perry explained that digital rupiah will have a similar appearance to physical money in general, namely having certain images and logos with several digital codes that can only be identified by BI.

Later in Indonesia there will be three legal tenders. The first is money in physical form. Second, account-based payment instruments, for example debit cards. The third is digital rupiah," he said.

Perry added that digital rupiah can be used in daily transactions in buying various needs. Then, he also said that digital rupiah would be directed for transaction purposes within the metaverse.

Digital rupiah can also be used to buy foreign currencies, such as how much the cost is for every single US dollar. But this is all in the digital world," he stressed.

Then, digital rupiah can become a store of value or a deposit device in a bank digital account.

"So in the future there will be regular accounts and there will also be accounts or wallets that accommodate digital rupiah," he added.

For information, Bank Indonesia continues to finalize the concept and planning of digital rupiah as a means of future transactions.

Most recently, BI has officially released a digital rupiah development design summarized in White Paper (WP) which outlines the formulation of CBDC for Indonesia taking into account the principle of benefits and risks.

It is stated that the WP is the first step in the Garuda Project', which is a project that includes various exploration initiatives for various choices of digital rupiah architectural design.

The key to digital rupiah development is, first to emphasize BI's function as the sole authority in issuing currencies including digital currencies. Second, strengthening BI's role in the international arena. And the third is to accelerate the integration of digital payments nationally," Perry said at the Bank Indonesia Annual Meeting last week.

Through this WP, it can be a catalyst for the development of CBDC designs in the future, so that the implementation can be in accordance with the context and characteristics of policies.