JAKARTA - Web world 3.0 or better known as Web3 continues to experience rapid development, both from the user side to the technology. The latest data published by DappRadar, until the second quarter of 2024 yesterday, the number of daily active wallets rose 40 percent from the first quarter with around 10 million active wallets.
Amid growing interest in Web3 adoption, Head of Strategy & Business PINTU, Jonathan Hartono shared his insights in the 2024 Asia Web3 Week event with the theme Indonesia Crypto Market Outlook 2025.
Jonathan Hartono, Head of Strategy & Business PINTU revealed, from a fundamental point of view, Web3 innovation is very potential and can have a direct positive impact on the community to be able to improve a better standard of living.
"One example of the Web3 application case that is suitable in Indonesia is the free accessibility of internet networks for areas that have not been 100 percent covered by the internet. For example, this case has been implemented in one of the countries in Central America through the use of Decentralized Physical Infrastructure Network (DePIN) technology which is able to provide physical infrastructure that has an impact on the real world," said Jonathan, in his statement, Tuesday, November 12.
Reporting from Pintu Academy, DePIN is a concept that uses token rewards to encourage the development and development of physical infrastructure in the real world. Examples of physical infrastructure are wireless networks, cloud services, mobility networks, and power grids, most of which have been dominated by large companies because they require large capital.
DePIN's main feature is the shift from a traditional centralized model to a decentralized model involving user participation to overcome dependence on large entities and implement a sharing economy' model.
"I am optimistic that this innovation can also be implemented in Indonesia so that it can have a positive impact that is sustainable and has the potential to increase adoption of crypto and Web3. Before that, of course, education must still be encouraged and balanced with regulations that are friendly to this industry which are the main supporters for the advancement of the crypto industry in Indonesia," said Jonathan.
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The development of the crypto industry has been seen from the high number of investors who describe interest in investing in crypto assets. Data from the Commodity Futures Supervisory Agency (CoFTRA) shows that domestic crypto investors until September 2024 have penetrated more than 21 million investors. The growth of crypto investors cannot be separated from the dominance of the younger generation, which according to data from the Indonesian Central Statistics Agency (BPS) the millennial generation and z reached 56 percent of the total population or around 115 million people.
"The growth space of the crypto and Web3 industries is still very large, crypto investors although the number continues to rise, but it has only reached 7,75 percent of the total population of Indonesians. Even so, we should be proud of the active collaborations carried out by many parties from regulators, business actors, associations, and communities to jointly initiate the progress of this industry. In particular, we need to appreciate the government for making friendly regulations to encourage interest in crypto asset investments, including recognizing crypto asset trading, making clear framework rules, friendly taxes compared to other countries, to the presence of Self-Regulatory Organizations (SRO) institutions that help oversee trade and encourage innovation. All of these factors are expected to continue to encourage the advancement of the crypto industry and grow interest in crypto investment and adoption," concluded Jonathan.
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