Awaiting Technical Rules From The Government That Allow YouTube Content To Be Debt Collateral In The Bank

UNSPLASH ILLUSTRATION

JAKARTA - Digital economy and creative industry observer Karim Taslim said that many parties are now waiting for technical instructions regarding the use of YouTube content as collateral or credit collateral in banks.

"This is actually good news that we have been waiting for, yes, for creative industry players, this is something that is very encouraging, but we are still waiting for implementation from the technical side in banking and fintech as well," said Karim as quoted by ANTARA, Friday, 22 uli.

This practitioner said that one of the points that was expected from the technical instructions was how the bank calculated the value or valuation of Intellectual Property Rights (HAKI) products.

"If we talk about tangible assets, it's easier for example property or vehicles in terms of valuation because there are always comparisons, but when talking about intellectual property rights, it will be more difficult to give a valuation," he said.

He believes that the Indonesian banking sector is capable of preparing instruments to determine the valuation or value of an intellectual property right product. However, he reminded the consistency of the implementation of the policy in the field.

"If we look at the practice that occurs in our country, it is like that, for example, Bank Indonesia lowers interest rates, the practice in banking is slow to follow, sometimes each is still struggling with the internal affairs of each bank," he said.

Karim also emphasized the possibility of risk in any financial instrument or product because the use of content or YouTube accounts as credit guarantees in banks is a new thing in Indonesian banking.

One of the interesting things to observe in the process of using YouTube accounts or content as collateral is how banks act when there is a default.

"People are more hype because the owner is an artist or a public figure. If it is confiscated, it is the bank that takes over or the admin, does it then have the same value? Now that's something that is still very abstract," he said.

Previously, the Minister of Law and Human Rights (Menkumham) Yasonna Laoly said that YouTube content could already be used as collateral for loans or debts to banks and non-banks.

This is regulated through Government Regulation (PP) Number 24 of 2022 concerning the Creative Economy which was signed by President Joko Widodo on July 12 regarding intellectual property-based financing schemes.