Indodax Gandeng Nusa Implements Blockchain Technology At Indodax Short Film Festival 2023

Indodax CEO, Oscar Darmawan. (Photo: Doc. Indodax

JAKARTA - INDODAX, one of Indonesia's leading crypto trading platforms, is proud to announce the launch of the INDODAX Short Film Festival 2023 (ISFF) with an innovative touch of blockchain technology. As a new step in in integrating blockchain technology in everyday life, ISFF will utilize NFT (Non-Fungible Token) technology in the process of calculating/voting the winner.

Oscar Darmawan, CEO of INDODAX, explained that blockchain technology has a much wider potential and is not only in the financial industry. Through collaboration with Nusa, INDODAX creates a winning calculation system (voting) by utilizing NFT technology.

"We want to prove that blockchain technology can be used as the basis for the winner's calculation using NFT. We will provide participants with 100 free NFT coupons to vote on ISFF," said Oscar, in a written statement, Thursday, September 28.

Oscar also said that the calculation or voting by adopting blockchain technology has several advantages over doing regular voting.

By using NFT, it is certain that the distribution of voting rights is evenly distributed and fairly. Then we can also monitor whether the voting rights are really used personally or by others. NFT also allows organizers to see the transaction history of each NFT," said Oscar.

In addition, Oscar also explained that the use of NFT technology can reduce and even prevent potential fraud.

The NFT system only allows one vote per NFT, thereby eliminating possible counterfeiting or multiple calculations. With this, the adoption of NFT can help prevent and reduce the potential for fraud, Oscar continued.

Wildan Ramadhan, CEO of Nusa, said that NFT technological innovation can be developed for various needs in everyday life.

Not only representing unique digital art, NFT can also be utilized in other sectors that require authentic, transparent, and reliable digital representations. One of them is as a representation of votes in the voting process," said Wildan.

Oscar also assessed that this could be the first step to open the gates for blockchain technology to be utilized and used in everyday life.

"It is hoped that in the future blockchain technology can be used and innovated in other ways, so it doesn't stop here," concluded Oscar.