BI Governor Perry Warjiyo: Central Bank Digital Currency Needs To Be Promoted In ASEAN

JAKARTA - Bank Indonesia (BI) Governor Perry Warjiyo said the central bank digital currency (CBDC) needs to be promoted in ASEAN, along with the current development of crypto assets.

"We are obliged to accelerate the development of the central bank digital currency," Perry said at the High Level Seminar from ASEAN to The World entitled "Payment System in Digital Era" in Badung, Bali, quoted from Antara, Tuesday, March 28.

This is because in the end, private digital assets require a count unit reference from a sovereign digital currency.

In developing a central bank digital currency that will be called digital rupiah, he said Indonesia had passed the launch stage of the Consultative Paper. The Consultative Paper rupiah Digital Phase I was published on January 31, 2023 with the title Garuda Project: Wholesale Rupiah Digital Cash Ledger.

Consultative Paper is a follow-up to the issuance of the Garuda White Paper Project which was launched by BI on November 30, 2022 and is a digital rupiah development design at the immediately state stage, namely the wholesale rupiah digital cash liner.

Furthermore, in the middle of this year, BI will start developing digital rupiah project designs under the Garuda project.

Thus, in the future, Perry emphasized that digital rupiah will be the only sovereign digital currency for digital assets used as a reference for private digital assets as a count unit.

"This is what we need to continue to pursue as an approach in dealing with digital financial assets," he said.

In addition, he said his party would also cooperate with regulators and other international institutions in regulating and supervising digital financial assets.